We study the evolutionary game dynamics of a two-strategy game. In infinite populations, the well-known replicator equations describe the deterministic evolutionary dynamics. There are three generic selection scenarios. The dynamics of a finite group of players has received little attention. We provide a framework for studying stochastic evolutionary game dynamics in finite populations. We define a Moran process with frequency dependent fitness. We find that there are eight selection scenarios. And for a given payoff matrix, a number of these sceanrios can occur for different population size. Our results have interesting applications in biology and economics. In particular, we obtain new results on the evolution of cooperation in the classic repeated Prisoner\'s Dilemma game. This is joint work with Drew Fudenberg and Martin Nowak.