As a result of important advances over the last decade, block copolymer melts have become an excellent model system for studying fundamental phenomena associated with molecular self assembly. During this time, good quantitative agreement has been achieved between theory and experiment in regards to equilibrium phase behaviour, and with it has emerged a thorough understanding in terms of simple intuitive explanations. The theoretical contributions to this effort are largely attributed to mean-field calculations on a standard Gaussian model. Here, we review this present understanding of block copolymer phase behaviour, the model and its underlying assumptions, the mean-field approximation and its limitations, and the attempts to incorporate fluctuation corrections. Rather than following the traditional rigorous derivations, we present slightly more intuitive and transparent ones in such a way to stress the close connection between the related calculations. In this way, we hope to provide a valuable introduction to block copolymer theory.