Ab initio calculations of response properties including the electron-hole interaction

We discuss the current status of a computational approach which allows to evaluate the dielectric matrix, and hence electronic excitations like optical properties, including local field and excitonic effects. We introduce a recent numerical development which greatly reduces the use of memory in such type of calculations, and hence eliminates one of the bottlenecks for the application to complex systems. We present recent applications of the method, focusing our interest on insulating oxides.