# Magnetic dipole moments

Is the magnetic dipole moment, the torque a material experiences when its placed in an external magnetic field?
I know that the magnetic dipole moment for a current carrying wire is U=IA.
The dipole moment is in the same direction of the Area, does this mean that the force it experiences will be in this direction when placed in an external magnetic field?
Where can i find the derivation of this formula?

Basically i just need help understand what the magnetic dipole actually is, i know its the current surrounding an area, but what significance is this? Why did it deserve a symbol?

Can anyone explain whats happening in this video as well please?

Thanks

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