There has been dramatic progress in the development of electron correl
ation techniques for the accurate treatment of the structures and ener
gies of molecules. in this review, we give brief and somewhat qualitat
ive descriptions of the different methods that have been developed in
recent years. We also discuss the range of applicability as well as th
e limitations of the methods with a few selected examples. We focus pa
rticular attention on electron correlation methods which start from a
Hattree-Fock wave function since such single configuration-based appro
aches are most easily extended to larger molecules. Multiconfiguration
-based correlation techniques are considered briefly. We also present
a fairly thorough account of the recent developments and applications
using novel quantum Monte Carlo approaches.