Effective field theories for strongly correlated fermions - Insights from the functional renormalization group

'There are very few things that can be proved rigorously in condensed matter physics.' These famous words, brought to us by Nobel laureate Anthony James Leggett in 2003, summarize very well the challenging nature of problems researchers find themselves confronted with when entering the fascinating field of condensed matter physics. The former roots in the inherent many-body character of several quantum mechanical particles with modest to strong interactions between them: their individual properties might be easy to understand, while their collective behavior can be utterly complex. Strongly correlated electron systems, for example, exhibit several captivating phenomena such as superconductivity or spin-charge separation at temperatures far below the energy scale set by their mutual couplings. Moreover, the dimension of the respective Hilbert space grows exponentially, which impedes the exact diagonalization of their Hamiltonians in the thermodynamic limit. For this reason, renormalization group (RG) methods have become one of the most powerful tools of condensed matter research - scales are separated and dealt with iteratively by advancing an RG flow from the microscopic theory into the low-energy regime. In this thesis, we report on two complementary implementations of the functional renormalization group (fRG) for strongly correlated electrons. Functional RG is based on an exact hierarchy of coupled differential equations, which describe the evolution of one-particle irreducible vertices in terms of an infrared cutoff Lambda. To become amenable to numerical solutions, however, this hierarchy needs to be truncated. For sufficiently weak interactions, three-particle and higher-order vertices are irrelevant at the infrared fixed point, justifying their neglect. This one-loop approximation lays the foundation for the N-patch fRG scheme employed within the scope of this work. As an example, we study competing orders of spinless fermions on the triangular lattice, mapping out a rich phase diagram with several charge and pairing instabilities. In the strong-coupling limit, a cutting-edge implementation of the multiloop pseudofermion functional renormalization group (pffRG) for quantum spin systems at zero temperature is presented. Despite the lack of a kinetic term in the microscopic theory, we provide evidence for self-consistency of the method by demonstrating loop convergence of pseudofermion vertices, as well as robustness of susceptibility flows with respect to occupation number fluctuations around half-filling. Finally, an extension of pffRG to Hamiltonians with coupled spin and orbital degrees of freedom is discussed and results for exemplary model studies on strongly correlated electron systems are presented