PHYSICS OF PRECISION EXPERIMENTS WITH ZS

We review the status of precision tests of the electroweak Standard Model. Radiative corrections play an important role for the interpretation of precision measurements and provide a window for the observation of new physics. Implications of recent results from LEP and hadron colliders are discussed. So far the agreement between experimental data and standard model predictions is almost perfect. In order to establish possible deviations from the Standard Model we have to wait for the next step in accuracy. This will be achieved during this year with about 10(6) Z's per experiment.