The approaches to calculating the thermodynamic properties of undercooled m
elts are critically evaluated. It is shown by the example of the eutectic F
e-P alloy that the rough estimates relying on various models of melt struct
ure, primarily on the hole theory, provide inadequate results. Based on the
concept of associated solutions and the thermodynamic functions of the con
stituent components found by solving the inverse problem of chemical thermo
dynamics, a procedure is proposed for analyzing the thermodynamic behavior
of undercooled melts, in particular, near the glass transition. The thermod
ynamic quantities calculated by this procedure coincide with experimental d
ata to within the measurement accuracy. The procedure is used to calculate
the thermodynamic properties and viscosity of Fe-P melts between the glass-
transition temperature (similar or equal to 650 K) and 1873 K. The results
are in perfect agreement with experimental data.