This textbook presents the basic elements needed to understand and engage in research in semiconductor physics. It deals with elementary excitations in bulk and low-dimensional semiconductors, including quantum wells, quantum wires and quantum dots. The basic principles underlying optical nonlinearities are developed, including excitonic and many-body plasma effects. The fundamentals of optical bistability, semiconductor lasers, femtosecond excitation, optical Stark effect, semiconductor photon echo, magneto-optic effects, as well as bulk and quantum-confined Franz-Keldysh effects are covered. The material is presented in sufficient detail for graduate students and researchers who have a general background in quantum mechanics.