Earth’s tropical and subtropical rainbands, such as Intertropical Convergence Zones (ITCZs) and monsoons, are complex systems, governed by both large-scale constraints on the atmospheric general circulation and regional interactions with continents and orography, and coupled to the ocean. Monsoons have historically been considered as regional large-scale sea breeze circulations, driven by land-sea contrast. More recently, a perspective has emerged of a Global Monsoon, a global-scale solstitial mode that dominates the annual variation of tropical and subtropical precipitation. This results from the seasonal variation of the global tropical atmospheric overturning and migration of the associated convergence zone. Regional subsystems are embedded in this global monsoon, localized by surface boundary conditions. Parallel with this, much theoretical progress has been made on the fundamental dynamics of the seasonal Hadley cells and convergence zones via the use of hierarchical modeling approaches, including aquaplanets. Here we review the theoretical progress made, and explore the extent to which these advances can help synthesize theory with observations to better understand differing characteristics of regional monsoons and their responses to certain forcings. After summarizing the dynamical and energetic balances that distinguish an ITCZ from a monsoon, we show that this theoretical framework provides strong support for the migrating convergence zone picture and allows constraints on the circulation to be identified via the momentum and energy budgets. Limitations of current theories are discussed, including the need for a better understanding of the influence of zonal asymmetries and transients on the large-scale tropical circulation.