  Magnetic switching of a single molecular magnet (SMM) due to spin-polarized
current flowing between ferromagnetic metallic electrodes is investigated
theoretically. Magnetic moments of the electrodes are assumed to be collinear
and parallel to the magnetic easy axis of the molecule. Electrons tunneling
through a barrier between magnetic leads are coupled to the SMM via exchange
interaction. The current flowing through the system as well as the spin
relaxation times of the SMM are calculated from the Fermi golden rule. It is
shown that spin of the SMM can be reversed by applying a voltage between the
two magnetic electrodes. Moreover, the switching is reflected in the
corresponding current-voltage characteristics.
