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Earth's magnetic field (also known as the geomagnetic field) is the magnetic field that extends from the Earth's inner core to where it meets the solar wind, a stream of energetic particles emanating from the Sun. Its magnitude at the Earth's surface ranges from 25 to 65 microteslas (0.25 to 0.65 gauss). It is approximately the field of a magnetic dipole tilted at an angle of 11 degrees with respect to the rotational axis—as if there were a bar magnet placed at that angle at the center of the Earth. However, unlike the field of a bar magnet, Earth's field changes over time because it is generated by the motion of molten iron alloys in the Earth's outer core (the geodynamo).
The Magnetic North Pole wanders, but slowly enough that a simple compass remains useful for navigation. At random intervals (averaging several hundred thousand years) the Earth's field reverses (the north and south geomagnetic poles change places with each other). These reversals leave a record in rocks that allow paleomagnetists to calculate past motions of continents and ocean floors as a result of plate tectonics.
The region above the ionosphere, and extending several tens of thousands of kilometers into space, is called the magnetosphere. This region protects the Earth from cosmic rays that would strip away the upper atmosphere, including the ozone layer that protects the earth from harmful ultraviolet radiation. http://en.wikipedia.org/wiki/Earth%27s_magnetic_field