EXTREMAL MAPPINGS OF FINITE DISTORTION (Tadeusz Iwaniec, Syracuse University) I will present recent joint work with K. Astala, G.J. Martin and J. Onninen. In this work we refine the connections between the theory of mappings of finite distortion and the calculus of variation. Our primary aim is to extend the study of extremal quasiconformal mappings by considering integral averages of the distortion function instead of its L-infinity norm. We identify many new and unexpected phenomena concerning existence, uniqueness and regularity for the extremal problems. The principal advantage of minimizing over the family of homeomorphisms in the above variational problems lies in the fact that the inverse maps are also extremal for their own energy integrals. Sometimes this associated problem for the inverse mapping is easier to solve than the original one as it may involve minimizing a convex functional. There are many natural reasons for studying such problems. We eventually hope to lay down the analytical foundations for approaches to compactifying the moduli spaces, such as Teichmuller spaces, where it is our expectation that a compactification will be by mappings whose distortion function lies in some natural integrability class.