  The theory of matrix models is reviewed from the point of view of its
relation to integrable hierarchies. Determinantal formulas, relation to
conformal field models and the theory of Generalized Kontsevich model are
discussed in some detail. Attention is also paid to the group-theoretical
interpretation of $\tau$-functions which allows to go beyond the restricted set
of the (multicomponent) KP and Toda integrable hierarchies.
