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This paper presents a detailed small-signal and transient analysis of a full bridge zero-current-switched (FB-ZCS) PWM converter designed for high voltage, high power applications using an average model. The development shows the model follows directly from the converter's steady-state analysis and is produced by inspection of the converter's instantaneous waveforms. The method used in model development can be extended to other topologies that are not easily modeled by conventional methods. The derived model is implemented in a PSPICE subcircuit and used to produce the small-signal and transient characteristics of the converter. Results obtained in the analysis of the high voltage and high power design example are validated by comparison to the actual, switched-circuit simulations.