In this series of lectures directed towards a mainly mathematically oriented audience I try to motivate the use of operator algebra methods in quantum field theory. Therefore a title as ``why mathematicians are/should be interested in algebraic quantum field theory'' would be equally fitting. Besides a presentation of the framework and the main results of local quantum physics these notes may serve as a guide to some frontier research problems in mathematical physics with applications in particle and condensed matter physics for whose solution operator algebraic methods seem indispensable. The ultraviolet problems of the standard approach and the recent holographic aspects belong to this kind of problems.