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An efficient finite-element reduced-order quasi-TEM model for the frequency-dependent characteristics of lossy multiconductor transmission lines is presented. Conductor losses are evaluated as functions of frequency through a magneto-quasi-static model. Numerically generated problem-matched basis functions reduce the problem size and, therefore, the CPU time required by frequency sweeps without appreciable loss of accuracy. The proposed approach is applied to complex coplanar waveguides and to multiconductor interconnects; its results are compared with quasi-analytical techniques and with the full-wave finite-element method.