These notes review a consistent and exact theory of quantum resonances and decay. Such a theory does not exist in the framework of traditional quantum mechanics and Dirac's formulation. But most of its ingredients have been familiar entities, like the Gamow vectors, the Lippmann-Schwinger (in- and out-plane wave) kets, the Breit-Wigner (Lorentzian) resonance amplitude, the analytically continued S-matrix, and its resonance poles. However, there are inconsistencies and problems with these ingredients: exponential catastrophe, deviations from the exponential law, causality, and recently the ambiguity of the mass and width definition for relativistic resonances. To overcome these problems the above entities will be appropriately defined (as mathematical idealizations). For this purpose we change just one axiom (Hilbert space and/or asymptotic completeness) to a new axiom which distinguishes between (in-)states and (out)observables using Hardy spaces. Then we obtain a consistent quantum theory of scattering and decay which has the Weisskopf-Wigner methods of standard textbooks as an approximation. But it also leads to time-asymmetric semigroup evolution in place of the usual, reversible, unitary group evolution. This, however, can be interpreted as causality for the Born probabilities. Thus we obtain a theoretical framework for the resonance and decay phenomena which is a natural extension of traditional quantum mechanics and possesses the same arrow-of-time as classical electrodynamics. When extended to the relativistic domain, it provides an unambiguous definition for the mass and width of the Z-boson and other relativistic resonances.