Half-metallic ferromagnets with high Curie temperatures are important ingredients for spintronics applications. In this respect, diluted magnetic semiconductors and other stoichiometric ferromagnetic compounds have received enormous attention in theoretical and experimental research for the last few years. As the physics of these systems is extremely complicated, a theoretical understanding in the microscopic scale is an absolute necessity. Here, we present ab-initio calculations on diluted magnetic semiconductors and other half-metallic ferromagnets. Structural, electronic and magnetic properties of several III-V and II-VI semiconductors will be presented with the emphasis on several types of defects present in these systems. We will also present results on the calculations of Curie temperatures using Monte-Carlo simulations with effective Heisenberg Hamiltonian within the framework of ab-initio methods. Volume effects on the exchange interaction parameters and hence Curie temperatures will be presented too.

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