Magnetic resonance spectroscopy (MRS) of hydrogen and carbon allow the study of neurochemical alterations in neuropsychiatric disorders. This paper discusses the basic theory of MRS in order to provide an understanding of this complicated technical area. A variety of applications of hydrogen MRS in the study of neuropsychiatric disorders are reviewed; these applications can generate useful hypotheses about brain metabolism. Following that is a description of neurotransmitter cycling and how kinetic carbon MRS can be used to extend hydrogen MRS measurements to evaluate the rate of cycling and energy metabolism. The remainder of the article focuses primarily on steps that are necessary for MRS to become more widely used, making it clinically viable and allowing the study of large populations.