This subject is currently one of the most exciting areas of research in condensed-matter physics. Direct investigation of fundamental dynamical processes in semiconductors, exploiting the remarkable recent development of pulses with pulse widths less than 5fs, has led to new insights into fundamental physics and ultra-high-speed electronic and opto-electronic devices. This new edition presents the recent developments: femtosecond dynamics demonstrating quantum kinetics and higher-order correlations, measurement of the amplitude and phase of ultrafast nonlinear and linear signals, femtosecond coherent emission dynamics, and ultrafast dynamics of microcavities and lower-dimensional structures such as quantum wires and dots.