The fundamental equations of the microscopic quantum hydrodynamics of fermi
ons in an external electromagnetic field (i.e., the particle balance equati
on, the momentum balance equation, the energy balance equation, and the mag
netic moment balance equation) are derived using the Schrodinger equation.
The form of the spin-spin interaction Hamiltonian is specified. To close th
e system of the balance equations for a multiparticle fermion system, the e
ffective one-particle Schrodinger equation must be introduced.