We review recent theoretical developments in heavy quarkonium physics from
the point of view of Effective Field Theories of QCD. We discuss
Non-Relativistic QCD and concentrate on potential Non-Relativistic QCD. Our
main goal will be to derive QCD Schr\"odinger-like equations that govern the
heavy quarkonium physics in the weak and strong coupling regime. We also
discuss a selected set of applications, which include spectroscopy, inclusive
decays and electromagnetic threshold production.Comment: 162 pages, 30 figures, revised version, references added. Accepted
for publication in Reviews of Modern Physic