  We develop a new, dynamical field theory of isotropic randomly branched
polymers, and we use this model in conjunction with the renormalization group
(RG) to study several prominent problems in the physics of these polymers. Our
model provides an alternative vantage point to understand the swollen phase via
dimensional reduction. We reveal a hidden Becchi-Rouet-Stora (BRS) symmetry of
the model that describes the collapse ($\theta$-)transition to compact
polymer-conformations, and calculate the critical exponents to 2-loop order. It
turns out that the long-standing 1-loop results for these exponents are not
entirely correct. A runaway of the RG flow indicates that the so-called
$\theta^\prime$-transition could be a fluctuation induced first order
transition.
