Over the past ten years, the asymptotic theory of one-parameter
semigroups of operators has witnessed an explosive development. A number
oflong-standing open problems have recently been solved and the theory
seems to have obtained a certain degree of maturity. These notes, based
on a course delivered at the University of Tiibingen in the academic
year 1994-1995, represent a first attempt to organize the available
material, most of which exists only in the form of research papers. If A
is a bounded linear operator on a complex Banach space X, then it is an
easy consequence of the spectral mapping theorem exp(tO"(A)) =
O"(exp(tA)), t E JR, and Gelfand's formula for the spectral radius that
the uniform growth bound of the wt family {exp(tA)h o, i. e. the infimum
of all wE JR such that II exp(tA)II:::: Me for some constant M and all t
2: 0, is equal to the spectral bound s(A) = sup{Re A: A E O"(A)} of A.
This fact is known as Lyapunov's theorem. Its importance resides in the
fact that the solutions of the initial value problem du(t) =A () dt u t,
u(O) = x, are given by u(t) = exp(tA)x. Thus, Lyapunov's theorem implies
that the expo- nential growth of the solutions of the initial value
problem associated to a bounded operator A is determined by the location
of the spectrum of A.