The interplay of magnetism and electronic correlations dominates the physical properties of many rare-earth elements and their compounds. The investigation of the mutual influence of the localized 4f electrons and itinerant band electrons represents a challenging task in theoretical as well as experimental physics. Research areas of current interest are the electronic structure as determined from calculations and spectroscopies, the magnetic properties in three- and low-dimensional systems, open questions concerning transport such as spin disorder resistivity, and the influence of structure and morphology. This volume provides an overview of recent results and developments. It will help to identify critical topics which may become the focus of future research activities.