This is the report of the Ultraviolet-Optical Working Group (UVOWG) commissioned by NASA to study the scientific rationale for new missions in ultraviolet/optical space astronomy approximately ten years from now, when the Hubble Space Telescope (HST) is de-orbited. The UVOWG focused on a scientific theme, The Emergence of the Modern Universe, the period from redshifts z = 3 to 0, occupying over 80% of cosmic time and beginning after the first galaxies, quasars, and stars emerged into their present form. We considered high-throughput UV spectroscopy (10-50x throughput of HST/COS) and wide-field optical imaging (at least 10 arcmin square). The exciting science to be addressed in the post-HST era includes studies of dark matter and baryons, the origin and evolution of the elements, and the major construction phase of galaxies and quasars. Key unanswered questions include: Where is the rest of the unseen universe? What is the interplay of the dark and luminous universe? How did the IGM collapse to form the galaxies and clusters? When were galaxies, clusters, and stellar populations assembled into their current form? What is the history of star formation and chemical evolution? Are massive black holes a natural part of most galaxies? A large-aperture UV/O telescope in space (ST-2010) will provide a major facility in the 21st century for solving these scientific problems. The UVOWG recommends that the first mission be a 4m aperture, SIRTF-class mission that focuses on UV spectroscopy and wide-field imaging. In the coming decade, NASA should investigate the feasibility of an 8m telescope, by 2010, with deployable optics similar to NGST. No high-throughput UV/Optical mission will be possible without significant NASA investments in technology, including UV detectors, gratings, mirrors, and imagers.