This is the second in a series of miniworkshops and Adriatico conferences devoted to the exciting field of strongly correlated electron systems including quantum Hall effect, metal insulator transition, heavy fermions and high Tc superconductivity. In spite of enormous efforts made by physicists worldwide to solve these difficult problems, many important issues are still widely open and this topic remains the most active field in condensed matter physics. The review talks and reports on original research given by the experts in the field represent a state-of-the-art summary of this fast-moving field.