This work provides a complete analysis of eddy current problems, ranging from a proof of unique solvability to the analysis of a multiharmonic discretization technique.For proving existence and uniqueness, we use a Schur complement approach in order to combine the structurally different results for conducting and non-conducting regions.For solving the time-dependent problem, we take advantage of the periodicity of the solution. Since the sources usually are alternating current, we propose a truncated Fourier series expansion, i.e. a so-called multiharmonic ansatz, instead of a costly time-stepping scheme. Moreover, we suggest to introduce a regularization parameter for the numerical solution, what ensures unique solvability not only in the factor space of divergence-free functions, but in the whole space H(curl). Finally, we provide estimates for the errors that are due to the truncated Fourier series, the spatial discretization and the regularization parameter.