The present paper contains an attempt to formulate a theory, based on fast electrons hypothesis, of the chromospheres of flare stars. At the same time we shall undertake a survey of observations on the emission lines of flare stars and comparisons with the theory. The general discussion in the introduction concerning the ‘civilian right’ of fast electron hypothesis is followed by sections in which the following problems are tackled: ‘the anatomy’ of the light curve of the flare in UV Cet-type stars or its division into two components; the sources of radiation, ionizing hydrogen and other elements, and the estimation of their power in cold dwarf stars with emission lines; conditions for the excitation of emission lines in the chromospheres of those stars; the problem of duration of luminescence of flare stars in the emission lines (observations and theory); the electron temperature and electron concentration in the chromospheres of flare stars; the problem of the luminescence of emission lines in the quiescent star; the degree of ionization and the role of inelastic collisions of the electrons in the chromosphere of flare stars; the profiles of emission lines, their broadening and intensification during the flare; the dependence of the infensity of emission lines on the flare amplitude; the nature and peculiarities of two types of the Haro flares; the impact of radiation dilution and the spectral class of the star on the equivalent width of the emission lines; the possibility of exciting the forbidden lines; the problem of generation of the emission lines of neutral and ionized helium; the possibility of the Lyman-alpha emission in flare stars, the expected parameters of such emission — the radiation power, the equivalent width and profile of the Lyman-alpha line; the possibility of the presence of the strongest (after the α-line) emission line — of doublet 2800 Mgii in the spectra of flare stars, the expected value of the intensity and equivalent width of that line.