Quantum Affine Algebras, Graded Limits and Flags

In this survey, we review some of the recent connections between the representation theory of (untwisted) quantum affine algebras and the representation theory of current algebras. We mainly focus on the finite-dimensional representations of these algebras. This connection arises via the notion of the graded and classical limit of finite-dimensional representations of quantum affine algebras. We explain how this study has led to interesting connections with Macdonald polynomials and discuss a BGG-type reciprocity result. We also discuss the role of Demazure modules in this theory and several recent results on the presentation, structure and combinatorics of Demazure modules.