Abstract
A single band description of ferromagnetism in 3d transition metals is given based on a recent formal theory of strong correlations by the author. Correlations are assumed to be important leading to 'Hubbard split bands' and localized moments. Correlations and magnetic effects of the system are calculated selfconsistently. An effective Heisenberg Hamiltonian is obtained. The magnetic excitations of the system are spin waves, their dispersion relation is derived. The spin wave stiffness constant is compared with earlier theories. At the Curie temperature Tc long range magnetic order disappears, localized moments and short range order, however, still exist above Tc. Comparison with experiment is made.