Progress in Time-Dependent Density-Functional Theory
  The classic density-functional theory (DFT) formalism introduced by Hohenberg, Kohn, and Sham in the mid-1960s, is based upon the idea that the complicated N-electron wavefunction can be replaced with the mathematically simpler 1-electron charge density in electronic struc- ture calculations of the ground stationary state. As such, ordinary DFT is neither able to treat time-dependent (TD) problems nor describe excited electronic states. In 1984, Runge and Gross proved a theorem making TD-DFT formally exact. Information about electronic excited states may be obtained from this theory through the linear response (LR) theory formalism. Begin- ning in the mid-1990s, LR-TD-DFT became increasingly popular for calculating absorption and other spectra of medium- and large-sized molecules. Its ease of use and relatively good accuracy has now brought LR-TD-DFT to the forefront for this type of application. As the number and the diversity of applications of TD-DFT has grown, so too has grown our understanding of the strengths and weaknesses of the approximate functionals commonly used for TD-DFT. The objective of this article is to continue where a previous review of TD-DFT in this series [Annu. Rev. Phys. Chem. 55: 427 (2004)] left off and highlight some of the problems and solutions from the point of view of applied physical chemistry. Since doubly-excited states have a particularly important role to play in bond dissociation and formation in both thermal and photochemistry, particular emphasis will be placed upon the problem of going beyond or around the TD-DFT adiabatic approximation which limits TD-DFT calculations to nominally singly-excited states. Posted with permission from the Annual Review of Physical Chemistry, Volume 63 \c{opyright} 2012 by Annual Reviews, http://www.annualreviews.org. 
M. E. Casida and M. Huix-Rotllant
physics.chem-ph cond-mat.mtrl-sci