The interrelation between the Faraday effect and the inverse Faraday effect in a magnetic medium and the terahertz inverse Faraday effect in single molecule magnets

The interrelation between the Faraday and the inverse Faraday effects when the magneto-dipole interaction of a sample with an electromagnetic wave is essential has been phenomenologically investigated. This investigation was carried out in the spirit of well-known Pitaevsky’s approach. The terahertz inverse Faraday effect in single molecule magnets has been theoretically studied, the conditions favorable for observing this effect have been formulated.