Theoretical and experimental research on magnetic materials and magnetic devices intend to investigate novel materials and structures which can be used for the next generation spintronic devices. Moreover, it is essential to conduct fundamental research on new phenomena aiming for new generation of devices that can be faster, smaller, cheaper, and more reliable. Magnetic anisotropies have been widely used in spintronic devices. From the unidirectional exchange bias anisotropy that is used in magnetic read heads and giant magnetic resonance (GMR) sensors, to the interfacial perpendicular magnetic anisotropy (PMA) that is essential for magnetic tunnel junctions (MTJs). In the first chapter of this dissertation a short introduction to magnetization dynamics including experimental techniques is given. In the second chapter, the exchange bias anisotropy and the interfacial origin of relaxation in Ru/IrMn/CoFe/Ru exchange biased systems is discussed and investigated. The interfacial perpendicular anisotropy is observed in these systems and can be quantified using FMR technique. Such anisotropy can exist in a thin ferromagnetic film (such as NiFe) that is in proximity to a metallic (e.g.Ru) or insulating (e.g. SiO2) non-magnetic layer, which is the topic of the third chapter of this dissertation. In addition, experimental results confirm that spatial fluctuations of the uniaxial perpendicular anisotropy can push the easy axis of the magnetization in an orientation that is neither perpendicular to the film nor normal to it. The effect of the lateral fluctuation of the uniaxial anisotropy on the magnetic energy landscape and the magnetization dynamics of thin magnetic layers is reported in chapter four using micromagnetic simulations.