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This paper contains a description and explanation of selected basic phenomena characteristic of bulk semimagnetic semiconductors: giant Faraday rotation and giant Zeeman splitting, mean field approximation and its limitations, ion-ion interaction, its measurements and its influence on magnetic properties, etc. The basic part is followed by a discussion of a personal choice of new perspectives open by the introduction of diluted magnetic semiconductors in semiconductor quantum structures. In particular, the role of magnetic ions in characterization of semiconductor quantum structures and low-dimensional excitonic systems is analyzed. Particular attention is paid to magnetooptical phenomena and magnetooptical experimental methods in large gap II-VI semimagnetic semiconductors.
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