"LDA+DMFT Approach to Magnetocrystalline Anisotropy of Strong Magnets"
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The new challenges posed by the need of finding strong rare-earth free magnets
demand methods that can predict magnetization and magnetocrystalline anisotropy
energy (MAE). In this talk, I will review the general status of electronic
structure approaches to this problem. I will then argue that correlated electron
effects, which are normally underestimated in band structure calculations, play
a crucial role in the development of the orbitalcomponent of the magnetic
moments. Because magnetic anisotropy arises from this orbital component, the
ability to include correlation effects has profound consequences on our
predictive power of the MAE of strong magnets.  I will show that incorporating
the local effects of electronic correlations with dynamical mean-field theory
provides reliable estimates of the orbital moment, the mass enhancement and the
MAE of YCo5.