Application of the time-dependent local-density approximation to   conjugated molecules
  The time-dependent local-density approximation (TDLDA) is applied to the optical response of conjugated carbon molecules in the energy range of 0-30 eV, with calculations given for carbon chains, polyenes, retinal, benzene and C_60. The major feature of the spectra, the collective pi-pi* transition, is seen at energies ranging from below 2 to 7 eV, and is reproduced by the theory to a few tenths of an eV with a good account of systematic trends. However, there is some indication that TDLDA predicts too much fragmentation of the strength function in large molecules. Transition strengths are reproduced with a typical accuracy of 20%. The theory also predicts a broad absorption peak in the range 15-25 eV, and this feature agrees with experiment in the one case where quantitative data is available (benzene). 
K. Yabana and G.F. Bertsch