Abstract
Buckminsterfullerene compounds exibit remarkable physics at low temperatures, e.g. high temperature superconductivity in alkali-fullerenes, and ferromagnetism in TDAE- C60. Here we review recent theoretical studies of electron correlations in these compounds. In particular, we discuss models of electron-vibron interactions, electron-electron interactions, and intermolecular hopping. We show that the origin of novel electronic phases lies in local degeneracies of C60; a direct consequence of the high molecular symmetry.