Theoretical calculations of molecular properties can assist experimental design of molecules
with interesting optical, electronic and structural properties which would help accelerate materials
discovery. Density functional theory (DFT) within the Kohn–Sham (KS) framework
has been the most widely used method for molecular properties calculations in the last three
decades because of its advantageous computational cost-to-accuracy ratio. However,
commonly used density functional approximations (DFAs) have been shown to be inadequate
for calculations involving transition metal compounds, metal clusters, conjugated molecules
and for describing noncovalent interactions. Random phase approximation is a post-KS
DFA that is accurate for describing noncovalent interactions without the need for empirical
parameters, does not diverge for small-, or even zero-gap systems and incorporates
Hartree–Fock (HF) exchange. The first part of this thesis aims at answering the question: can a
self-consistent generalized KS scheme be developed for the RPA energy functional which
also gives access to single particle energies within a variational Lagrangian formalism? To
this end, an orbital self-consistent scheme called the generalized KS semicanonical projected
RPA (GKS-spRPA) is developed, implemented and benchmarked for ground state as well
as single particle energies. The ionization energies and band-gaps that are calculated
using the GKS-spRPA suggest that it is better than the commonly used G0W0 method. The
second part of the thesis is concerned with the implementation and testing of static
polarizabilities within the GKS-spRPA method. The GKS-spRPA successfully solves the
overpolarization problem observed with the use of semilocal/hybrid DFAs for calculations
of static polarizabilities of pi-conjugated molecules. Calculations involving metallocenes, metal clusters and
a small molecule testset are used to show that the static polarizability calculated using the GKS-spRPA
method is more accurate than DFAs such as PBE, PBE0, CAM-B3LYP and wave function
based methods such as HF and the second-order Møller–Plesset perturbation theory (MP2).
Thus, this thesis conclusively shows that the GKS-spRPA within a Lagrangian framework,
is a method that provides not only accurate ground state energies but also a wide range of
molecular properties such as geometries, ionization potentials, electron affinities, dipoles and
polarizabilities with a reasonable computational cost of O(N 4 log(N )).