The yeast Saccharomyces cerevisiae is one of the most important organisms in biotechnology.[4] Development of cloning vectors for yeast was stimulated by the discovery of a plasmid that is present in most strains of S. cerevisiae. The 2 µm plasmid, as it is called, is one of only a very limited number of plasmids found in eukaryotic cells. [4]
Why is it popularly used?
Yeast cells are much easier to grow and manipulate than plant and animal cells.
The cellular biochemistry and regulation of yeast are very like those of higher eukaryotes.
There are many yeast homologues of human genes, e.g. those involved in cell division. Thus yeast can be a very good surrogate host for studying the structure and function of eukaryotic gene products.[3]
Image source: http://genome.jgi.doe.gov/public/Sacce1/yeast_2.jpg
The different kind of cloning vector derived from yeast are:
Image source: Table 9.1, Principles of gene manupulations,S.B. Primrose, R.M.Twyman and R.W.Old, sixth edition, blackwell science.2004