  Using a microscopic theory based on the density matrix formalism we
investigate quantum revivals and collapses of the charge polarization and
charge current dynamics in mesoscopic rings driven by short asymmetric
electromagnetic pulses. The collapsed state is utilized for sub-picosecond
switching of the current and associated magnetization, enabling thus the
generation of pulsed magnetic fields with a tunable time structure and shape
asymmetry which provides a new tool to study ultrafast spin-dynamics and
ratchet-based effects.
