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A new large-signal circuit model of a heterojunction injection laser is presented. The model includes the current/voltage characteristics of the semiconductor heterojunction and the electro-optical dynamics of the active layer. It enables the laser and its electrical drive circuit to be analysed in a unified manner. The model can be easily implemented on general-purpose nonlinear circuit analysis programs, and does not require specialised laser analysis software. The model is illustrated with a number of simulated laser response characteristics.