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Semiconductor quantum dots is among the fields of solid state physics that have experienced the greatest progress in the last decade. Recent years have witnessed the discovery of many striking new aspects of the optical response and electronic transport phenomena. The advent of various techniques for fabricating well-controlled nanostructures and the development of powerful methods of microimaging a single quantum dot have accelerated the discovery of new phenomena in semiconductor physics. This book surveys this progress in the physics, optical spectroscopy and application-oriented research of semiconductor quantum dots. It focuses especially on excitons, multi-excitons, their dynamical relaxation behaviour and their interactions with the surroundings of a semiconductor quantum dot. Recent developments in fabrication techniques are reviewed and potential applications discussed. This book will serve not only as an introductory textbook for graduate students but also as a concise guide for active researchers.