We review recent
developments in the framework of simplified quantum
chemistry for excited state and optical response properties (sTD-DFT)
and present future challenges for new method developments to improve
accuracy and extend the range of application. In recent years, the
scope of sTD-DFT was extended to molecular response calculations of
the polarizability, optical rotation, first hyperpolarizability, two-photon
absorption (2PA), and excited-state absorption for large systems with
hundreds to thousands of atoms. The recently introduced spin-flip
simplified time-dependent density functional theory (SF-sTD-DFT) variant
enables an ultrafast treatment for diradicals and related strongly
correlated systems. A few drawbacks were also identified, specifically
for the computation of 2PA cross sections. We propose solutions to
this problem and how to generally improve the accuracy of simplified
schemes. New possible simplified schemes are also introduced for strongly
correlated systems, e.g., with a second-order perturbative correlation
correction. Interpretation tools that can extract chemical structure–property
relationships from excited state or response calculations are also
discussed. In particular, the recently introduced method-agnostic
RespA approach based on natural response orbitals (NROs) as the key
concept is employed.