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This lecture explores how to compute the total magnetic moment of an atom by solving the Schrödinger equation for the atomic system and computing the magnetic moment for each state. It delves into the magnetic moments of electrons, nucleus, and ions, discussing the significance of filled shells and the negligible magnetic moment of the nucleus. The lecture also covers the Russell-Saunders Rule, Hund Rules, and the magnetic moments of rare earths and transition metal ions. It explains the total angular momentum of atoms and ions, the high spin and low spin configurations, and the types of magnetism such as diamagnetism, paramagnetism, and ferromagnetism.