Exchange spring magnet
The magnetostatic energy is the energy stored in the field generated by a material's magnetic moments. The magnet's field reaches its maximum intensity if all the magnetic moments orient in one direction; this is what occurs in a hard magnet. In order to prevent building up the magnetic field, sometimes magnetic moments tend to form loops. That way, the energy stored in the magnetic field can be constrained; this is what occurs in a soft magnet. What determines whether a magnet is hard or soft is the dominant term of its magnetic energy. For hard magnets, the anisotropy constant is relatively large, making the magnetic moments align with easy axis. The opposite case applies to soft magnets, in which the magnetostatic energy is dominant.
Magnetic field
In 1831, Michael Faraday discovered electromagnetic induction when he found that a changing magnetic field generates an encircling electric field. He described this phenomenon in what is known as Faraday's law of induction. Later, Franz Ernst Neumann proved that, for a moving conductor in a magnetic field, induction is a consequence of Ampère's force law. In the process, he introduced the magnetic vector potential, which was later shown to be equivalent to the underlying mechanism proposed by Faraday.