The effects of finite size on the thermodynamic properties of ferromag
rietic clusters have been calculated on the basis of a self-consistent
ly solved spin-wave spectrum for clusters of various sizes. The finite
size leads to an effective power law for the temperature dependence o
f the magnetization (M approximately T(alpha); 3/2 < alpha < 3), and t
o a neutron-scattering cross section with a wavevector broadened discr
ete spin-wave spectrum very different from that of the bulk. Predictio
ns of the implications of finite size are extended to the size range o
f nanoparticles. The effects should be readily observed in experiments
.