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The Fe$_{n}$GeTe$_{2}$ systems are newly discovered two-dimensionalvan-der-Waals materials, exhibiting magnetism at room temperature. Thesub-systems belonging to Fe$_{n}$GeTe$_{2}$ class are special because they showsite-dependent magnetic behavior. We focus on the critical evaluation ofmagnetic properties and electron correlation effects in Fe$_{n}$GeTe$_{2}$($n$= 3, 4, 5) (FGT) systems performing first-principles calculations. Threedifferent ab-initio approaches have been used, viz., i) standard densityfunctional theory (DFT), ii) incorporating static electron correlation (DFT+U)and iii) inclusion of dynamic electron correlation effect (DFT+DMFT). Ourresults show that DFT+DMFT is the most accurate technique to correctlyreproduce the magnetic interactions and experimentally observed transitiontemperatures. The inaccurate values of structural parameters, magnetic momentsand exchange interactions obtained from DFT+U make this method inapplicable forthe FGT family. Correct determination of magnetic properties for this class ofmaterials is important since they are promising candidates for spin transportand spintronic applications at room temperature.

Unraveling effects of electron correlation in two-dimensional Fe$_{n}$GeTe$_{2}$ (n=3, 4, 5) by dynamical mean field theory