Abstract
Recent theoretical developments in the study of the electronic structure and magnetic properties of itinerant magnets are reviewed. The discussion falls naturally into two parts. The first part deals with the apparent success of the local spin density functional calculations in predicting ground state properties such as the magnetic moment or equilibrium atomic volume with the help of no adjustable parameters. The second part deals with the conditions for the existence of localized moments in the disordered paramagnetic phase and examines the energetics of different local moment configurations within a parametrized tight-binding framework. The relevance of these results to current theories of itinerant magnetism is stressed.
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