How do you replace a master cylinder on a 2001 ford taurus

Well, in essence you disconnect the brake lines, unbolt the MC and bolt the new one on, but you knew that.
What you need to know is you really must bench bleed the replacement unit, or you may never get it to go. What you need is a little bleed kit from aftermarket parts stores. This has hoses that screw in to the brake line fittings and route back into the reservoir, under the fluid level. Actuate the MC until no more bubbles....bolt the unit on the vehicle, (DO NOT let MC fluid run low, or start all over again), remove one of the bleeder hoses at a time and screw in the brake line.

Usually, you would bleed all of the brakes, next. You need all clean fluid at each wheel. and again: DO NOT let MC fluid run low, or start all over again.