  The functional renormalization group provides an efficient description of the
interplay and competition of correlations on different energy scales in
interacting Fermi systems. An exact hierarchy of flow equations yields the
gradual evolution from a microscopic model Hamiltonian to the effective action
as a function of a continuously decreasing energy cutoff. Practical
implementations rely on suitable truncations of the hierarchy, which capture
nonuniversal properties at higher energy scales in addition to the universal
low-energy asymptotics. As a specific example we study transport properties
through a single-level quantum dot coupled to Fermi liquid leads. In
particular, we focus on the temperature T=0 gate voltage dependence of the
linear conductance. A comparison with exact results shows that the functional
renormalization group approach captures the broad resonance plateau as well as
the emergence of the Kondo scale. It can be easily extended to more complex
setups of quantum dots.
