|MadSci Network: Physics|
Yes there is a complete theory of electromagnetic forces. It is called "Quantum Electrodynamics". You can find a wealth of material on it by searching the Web in GOOGLE. Both electrostatic and magnetic forces arise by exchange of photons. It sounds unlikely but the theory is the most accurate theory ever devised and explains the results of experiments to many decimal places.
Try the links in the MadSci Library for more information on Physics.