The Faraday effect usually is regarded as to be caused by one single pass of the incident wave through the volume of a material. This description neglects the magnetooptical interface effects and the magnetooptical consequences of multiple reflections within the medium. A matrix calculation model is presented for calculating consistentely magnetooptical reflection and transmission spectra. This method yields as well the magnetooptical effects of homogeneous materials as the magnetooptical effects of arbitrary successions of multilayer systems including coherent and incoherent multiple reflections and magnetooptical interface effects. The theorem of magnetooptical reciprocity is discussed and it is shown, that optical inhomogeneous materials generally yield six independent measurable magnetooptical effects. A physical model is constructed which can be used to determine free carrier density profiles of ion implanted and diffused semiconductors nondestructively by utilizing the magnetooptical properties of the free carrier plasma. Generalized dispersion relations which are as well valid between the magnetooptical reflection effects as between the magnetooptical transmission effects are given.