  We analyze the smallest Dirac eigenvalues by formulating an effective theory
for the QCD Dirac spectrum. We find that in a domain where the kinetic term of
the effective theory can be ignored, the Dirac eigenvalues are distributed
according to a Random Matrix Theory with the global symmetries of the QCD
partition function. The kinetic term provides information on the slope of the
average spectral density of the Dirac operator. In the second half of this
lecture we interpret quenched QCD Dirac spectra at nonzero chemical potential
(with eigenvalues scattered in the complex plane) in terms of an effective low
energy theory.
