  In this conference report a summary is given on the recent theoretical work
that has contributed to improve the theoretical predictions for testing the
standard model in present and future experiments. Precision calculations for
the $Z$ resonance are reviewed and the status of the standard model is
discussed in the light of the recent top discovery and of the results from
precision experiments. Furthermore, theoretical progress for the Higgs search,
for $W$ physics at LEP II, and for the anomalous magnetic moment of the muon is
summarized. New Physics beyond the minimal model is briefly discussed, in
particular the mimimal supersymmetric standard model in view of the recent
electroweak precision data.
