Since the first attempts to calculate the helium ground state in the early
days of Bohr-Sommerfeld quantization, two-electron atoms have posed a serie
s of unexpected challenges to theoretical physics. Despite the seemingly si
mple problem of three charged particles with known interactions, it took mo
re than half a century after quantum mechanics was established to describe
the spectra of two-electron atoms satisfactorily. The evolution of the unde
rstanding of correlated two-electron dynamics and its importance for doubly
excited resonance states is presented here, with an emphasis on the concep
ts introduced. The authors begin by reviewing the historical development an
d summarizing the progress in measuring the spectra of two-electron atoms a
nd in calculating them by solving the corresponding Schrodinger equation nu
merically. They devote the second part of the review to approximate quantum
methods, in particular adiabatic and group-theoretical approaches. These m
ethods explain and predict the striking regularities of two-electron resona
nce spectra, including propensity rules for decay and dipole transitions of
resonant states. This progress was made possible through the identificatio
n of approximate dynamical symmetries leading to corresponding collective q
uantum numbers for correlated electron-pair dynamics. The quantum numbers a
re very different from the independent particle classification, suitable fo
r low-lying states in atomic systems. The third section of the review descr
ibes modern semiclassical concepts and their application to two-electron at
oms. Simple interpretations of the approximate quantum numbers and propensi
ty rules can be given in terms of a few key periodic orbits of the classica
l three-body problem. This includes the puzzling existence of Rydberg serie
s for electron-pair motion. Qualitative and quantitative semiclassical esti
mates for doubly excited states are obtained for both regular and chaotic c
lassical two-electron dynamics using modern semiclassical techniques. These
techniques set the stage for a theoretical investigation of the regime of
extreme excitation towards the three-body breakup threshold. Together with
periodic orbit spectroscopy, they supply new tools for the analysis of comp
lex experimental spectra.