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Modeling and analysis of power and power-electronic systems' transients using digital programs enables testing new design concepts in modern electric grid and many industrial and commercial products and applications. This paper gives an overview of dynamic average-value modeling techniques for representing static switching converters for the system-level studies. Concepts and desirable properties of averaged models for conducting large-signal time-domain transient studies and small-signal frequency-domain analysis for control design tasks are discussed. Basic approaches for developing average models for dc/dc and dc/ac converters are briefly reviewed and summarized. Finally, the desirable properties of the average-value models are demonstrated through an example system.