The theory of relativity is a physical theory introduced by Albert Einstein in the early 20th century that fundamentally changed our understanding of space, time, and gravity. It consists of two main parts: special relativity and general relativity. Special relativity states that the laws of physics are the same in all inertial frames and that the speed of light is the same for all observers. On the other hand, general relativity states that gravity is caused by the curvature of spacetime by mass and energy. This has vast implications for our understanding of the universe and has contributed to our current models of cosmology and astrophysics. It has even influenced the development of technologies like GPS which takes into account the time dilation effects predicted by the theory of relativity.

The Theory of Relativity, as introduced by Albert Einstein, primarily focuses on the concepts of space and time, contradicting the Newtonian physics. Its two components, Special and General relativity have some pretty fundamental ramifications. The former stipulates that the laws of physics and the speed of light are consistent across all inertial frames of reference. The latter offers an explanation for gravitational phenomena by attributing it to the warping of spacetime due to mass and energy. This theory has revolutionised our understanding of the universe in a myriad of ways. It forms the bedrock for our current cosmological models and is a key contributor in the field of Astrophysics. Beyond academic insights, it has pragmatic implications too. For instance, the GPS technology that we use today is built upon its principles, specifically the time dilation aspect of the theory.