Recently proposed-potential of Hausleitner and Hafner for liquid trans
ition metals is applied for the first time for the computation of effe
ctive pair potential, in the case of binary Ni33Y67 glass. Computation
s of effective pair potentials have been followed using two separate a
pproaches: partial pair potential approach and effective medium approx
imation approach. The computed potentials are then compared with that
obtained using partial potentials computed by Hausleitner and Hafner.
So obtained effective pair potentials are then employed to investigate
the vibrational dynamics of this glass in terms of longitudinal and t
ransverse phonon frequencies. Further, longitudinal and transverse pho
non modes, now called as phonon dispersion curves are then used to get
information about elastic and thermal properties of the binary transi
tion metal glass.