In this Chapter, we give a brief review of the state of the art of theoretical and experimental studies of synthetic magnetic fields and quantum Hall effects in ultracold atomic gases. We focus on integer, spin, and fractional Hall effects, indicate connections to topological matter, and discuss prospects for the realization of full-fledged gauge field theories where the synthetic magnetic field has its own dynamics. The advantages of these systems over traditional electronic systems are highlighted. Finally, interdisciplinary comparisons with other synthetic matter platforms based on photonic and trapped-ion systems are drawn. We hope this chapter to illustrate the exciting progress that the field has experienced in recent years.