In addition to the well-known Landauer-Buttiker scattering theory and the nonequilibrium Greens function technique for mesoscopic transports, an alternative (and very useful) scheme is quantum master equation approach. In this article, we review the particle-number (n)-resolved master equation (n-ME) approach and its systematic applications in quantum measurement and quantum transport problems. The n-ME contains rich dynamical information, allowing efficient study of topics such as shot noise and full counting statistics analysis. Moreover, we also review a newly developed master equation approach (and its n-resolved version) under self-consistent Born approximation. The application potential of this new approach is critically examined via its ability to recover the exact results for noninteracting systems under arbitrary voltage and in presence of strong quantum interference, and the challenging non-equilibrium Kondo effect.
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