Due to fundamental similarities between the yeast Saccharomyces cerevisiae and multicellular organisms at the molecular level, and the powerful range of experimental tools available for this yeast, S. cerevisiae is proving an ideal model system for studies on protein synthesis and targeting. The topics covered are: - Messenger RNA stability and translation.- The translation apparatus. - Translational control andfidelity. - Protein targeting to the mitochondrion. - Nuclear transport. - The secretory pathway. - Protein folding and degradation. - Protein splicing. Modern and often novel molecular, genetic and biochemical approaches as well as most recent data are provided. The reader will gain a comprehensive view of the current status of the field.