The precision data on Z boson decays from LEP-I and SLC colliders are
compared with the predictions based on the Minimal Standard Theory. The Born
approximation of the theory is based on three most accurately known
observables: G_mu -- the four fermion coupling constant of muon decay, m_Z --
the mass of the Z boson, and alpha(m_Z) -- the value of the running fine
structure constant at the scale of m_Z. The electroweak loop corrections are
expressed, in addition, in terms of the masses of higgs, m_H, of the top and
bottom quarks, m_t and m_b, and of the strong interaction constant
alpha_s(m_Z). The main emphasis of the review is focused on the
one-electroweak-loop approximation. Two electroweak loops have been calculated
in the literature only partly. Possible manifestations of new physics are
briefly discussed.Comment: 80 pages, 16 figures, accepted in Reports on Progress in Physic
