The TeV blazars Markarian 421 and Markarian 501 are excellent laboratories for studying the physical processes within the jets of active galactic nuclei due to their history of extreme variability. However, the potential for rapid variability in these objects makes it important for strictly simultaneous multi-wavelength data to be utilized for studying their broadband behavior. In this dissertation presentation, a summary of results from my work, aimed at further understanding the broadband spectral energy distributions (SEDs) of these objects, will be shown. The focus is to further understand the emission mechanism and origin of the flares in these sources by studying how their SEDs vary with flux and searching for potential correlations between X-ray, optical/UV, and TeV data. Studies of spectral hysteresis and hardness-intensity correlations observed in these sources are also discussed.