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A wind farm typically consists of a large number of individual wind turbine generators (WTGs) connected by an internal electrical network. To study the impact of wind farms on the dynamics of the power system, an important issue is to develop appropriate wind farm models to represent the dynamics of many individual WTGs. This paper presents various dynamic models, including a detailed model and three reduced-order equivalent models, of wind farms with fixed-speed WTGs. These models are developed and compared by simulation studies in the PSCAD/EMTDC environment under different wind velocity and fluctuation conditions as well as gird fault conditions. Concluding remarks are provided on how to choose an appropriate wind farm model for power system dynamic and transient studies.