Small amounts of ellipticity in the nominally linearly polarized light used
in magnetic rotation spectroscopy play an important role in determining th
e character of the signals developed in these experiments. For example, ell
ipticity introduced by stress-induced birefringence can easily influence su
ch signals more than does a nonzero polarizer extinction ratio. In addition
, for nearly-crossed polarizers, an initial ellipticity allows one to probe
magnetic circular dichroism instead of the more commonly investigated magn
etic circular birefringence. A general expression for the magnetic rotation
spectroscopy signal is derived and compared to experimental results. An ex
pression for the detection sensitivity is developed by taking shot noise an
d rms laser power fluctuations to be the dominant noise sources. (C) 1999 O
ptical Society of America.