Over the past decade the experimental technique of THz time domain spectroscopy (㎔- TDS) has proved to be a versatile method for investigating a wide range of phenomena in the ㎔ or far infrared spectral region from 100 ㎓ to 5 ㎔. This paper reviews some recent results of the Ultrafast ㎔ Research Group at Oklahoma State University using ㎔-TDS as a characterization tool. The experimental technique is described along with recent results on ㎔ beam propagation and how ㎔ beam profiles arise from propagation of pulse fronts along caustics. To illustrate how spatio-temporal electric field measurements can determine material properties over a wide spectral range, propagation of ㎔ pulses through systems exhibiting frustrated total internal reflection (FTIR) are reviewed. Finally two potential metrology applications of ㎔-TDS are discussed, thin film characterization and non-destructive evaluation of ceramics. Although ㎔-TDS has been confined to the research laboratory, the focus on application may stimulate the adoption of ㎔- TDS for industrial or metrology applications.