Density functional methods experience growing interest both in basic research and industrial applications. No doubt, this success story would have not been possible without the tremendous increase of computer power in the last decades. Yet, its origin actually goes back to the early days of quantum mechanics and the theoretical concepts derived from it, which altogether have paved the way for nowadays materials science. The capabilities of modern band structure methods to explore the electronic, structural, and magnetic properties of matter are illustrated with recent results on FeS₂ and VO₂.

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