We consider the reduced model proposed by DeSimone, Kohn, Müller, Otto and Schäfer 2001 which is valid for sufficiently large and thin ferromagnetic samples. We analyze the model problem and recall the appropriate functional analytic framework. Existence and uniqueness of a minimizer in our functional setting is proven. Furthermore, we state the Euler-Lagrange equation and propose a conforming discretization scheme to solve the resulting system of equations.