Nanomagnetism and spintronics is a rapidly expanding and increasingly important field of research with many applications already on the market and many more to be expected in the near future. This field started in the mid-1980s with the discovery of the GMR effect, recently awarded with the Nobel prize to Albert Fert and Peter Grunberg. The present volume covers the most important and most timely aspects of magnetic heterostructures, including spin torque effects, spin injection, spin transport, spin fluctuations, proximity effects, and electrical control of spin valves. The chapters are written by internationally recognized experts in their respective fields and provide an overview of the latest status.