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This paper treats the parametric converter from the circuit theory point of view. A linear time-varying capacitance is imbedded in an arbitrary linear passive and time-invariant network. First, we review the steady-state analysis of such a circuit. The formula for transducer power gain is next derived. Based on this formula, the maximum gain-bandwidth product is studied using Bode's relationship. We prove that for the noninverting type parametric converters, the optimum transducer power gain is that of Manley and Rowe, i.e., Â¿Â¿/Â¿. The maximum fractional bandwidth is given by C1/C0(Â¿0Â¿/Â¿0)1/2. Simple coupling circuits which approach the optimum situations are presented along with typical design examples.