The concept of the layer-resolved optical conductivity sigma(IJ)(omega) app
lied by means of a conventional band structure method is introduced. It is
demonstrated that it allows for a detailed discussion of the magneto-optica
l properties of magnetic multilayer systems. In particular it is found that
the layer-projected optical conductivity sigma(I)(omega) of an atomic laye
r is influenced by only very few neighboring lavers. This property can be e
xploited within the Baukasten principle that aims to predict the magneto-op
tical properties of a complex layer system from the properties calculated f
or a closely related but simpler one.