Intrinsic properties of magnetic nanoparticles are reviewed, with special e
mphasis on the effects of finite size on zero-temperature spin ordering, ma
gnetic excitations, and relaxation. Effects on zero-temperature spin orderi
ng include moment enhancement due to band narrowing in 3d transition metal
particles, surface spin disorder in ferrite particles, and multi-sublattice
states in antiferromagnetic oxide particles. Magnetic excitations include
discretized spin wave modes, and surface modes that have been detected by q
uasielastic neutron scattering. Thermally activated and quantum tunneling r
elaxation is discussed in the context of ideal single-domain particles, as
well as particles with surface spin disorder. (C) 1999 Elsevier Science B.V
. All rights reserved.