The high redshift observations of galaxies now becoming available from the Hubble Space Telescope and from large ground based telescopes are opening fresh windows on galaxy formation. Semianalytic models of galaxy formation provide us with a powerful tool to interpret and understand these exciting new data. In this review, we explain the philosophy behind this class of model and outline some of their remarkable successes, focussing our attention on the formation of elliptical galaxies and on the properties of galaxies at high redshift. Now that the recent discovery of star forming galaxies at z=3 has made possible the construction of the cosmic star formation history, which is in good agreement with our model predictions, it appears that a coherent, broadbrush picture of galaxy formation is beginning to emerge.
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