Marvel Cinematic Universe
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Phase One
Marvel Studios divides their films into "phases" where individual movies contain pieces of a bigger story arc that makes preparations for an Avengers movie that brings the heroes and their stories together.
In phase one, the Avengers initiative and its core members are introduced.
In phase one, the Avengers initiative and its core members are introduced.
Iron Man (2008)
Director: Jon Favreau
Screenplay: Mark Fergus & Hawk Ostby and Art Marcum & Matt Holloway
Release: May 2, 2008
Screenplay: Mark Fergus & Hawk Ostby and Art Marcum & Matt Holloway
Release: May 2, 2008
Thor (2011)
Director: Kenneth Branagh
Story: J. Michael Straczynski and Mark Protosevich
Screenplay: Ashley Edward Miller & Zack Stentz and Don Payne
Release: April 21, 2011
Story: J. Michael Straczynski and Mark Protosevich
Screenplay: Ashley Edward Miller & Zack Stentz and Don Payne
Release: April 21, 2011
Director: Joe Johnston
Screenplay: Christopher Markus & Stephen McFeely
Release: July 22, 2011
Screenplay: Christopher Markus & Stephen McFeely
Release: July 22, 2011
The Avengers (2012)
Director: Joss Whedon
Story: Zak Penn and Joss Whedon
Screenplay: Joss Whedon
Release: May 4, 2012
Story: Zak Penn and Joss Whedon
Screenplay: Joss Whedon
Release: May 4, 2012

Phase Two
After saving the world in New York City, the team scatters and each hero must face new adventures on their own. However, a new threat, a cosmic villain Thanos, approaches.
Thor: The Dark World (2013)
Director: Alan Taylor
Story: Don Payne & Robert Rodat
Screenplay: Christopher Yost, Christopher Markus & Stephen McFeely
Release: November 8, 2013
Story: Don Payne & Robert Rodat
Screenplay: Christopher Yost, Christopher Markus & Stephen McFeely
Release: November 8, 2013
Director: Joe and Anthony Russo
Screenplay: Christopher Markus & Stephen McFeely
Release: April 4, 2014
Screenplay: Christopher Markus & Stephen McFeely
Release: April 4, 2014
Guardians of the Galaxy (2014)
Director: James Gunn
Screenplay: Nicole Perlman, Chris McCoy & James Gunn
Release: August 1, 2014
Screenplay: Nicole Perlman, Chris McCoy & James Gunn
Release: August 1, 2014

Phase Three
Pretty much everything is unknown at this point.
Ant-Man (2015)
Director: Edgar Wright
Screenplay: Edgar Wright & Joe Cornish
Release: November 6, 2015
Screenplay: Edgar Wright & Joe Cornish
Release: November 6, 2015
Doctor Strange (2016)
Details unknown. In Januray 2013, Marvel Studios' President of Production Kevin Feige confirmed in an interview that the character Doctor Strange, who has had a movie in pre-production for a long time, will be a part of Phase Three. It remains unclear, however, whether he'll have a movie of his own or an appearance in somebody else's movie.
Marvel Cinematic Universe refers to those movies based on Marvel Comics property that share the same continuity and are developed independently by Marvel Studios. This is a huge, bold, risky and all around awesome attempt to bring comic-style crossover continuity to films in order to introduce storylines that need a lot ground work.
The universe is created by sharing characters, their actors, plot elements and settings in several different movies. However, not all superhero movies based on Marvel heroes are in this continuity. For example, the Fantastic Four and the Spider-Man both hang out in New York but not in the same universe - they don't team up and events present in one hero's movie don't effect the other hero's movie. These movies are not developed by Marvel themselves but other studios who have bought the licence for these characters. On the other hand, in The Avengers we see Iron Man, the Hulk, Captain America, Thor and others gather to save New York City - which according to Hollywood logic means saving the world.
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