Recent advances in modelling techniques in power electronics, focusing on circuit-based models, are covered. Circuit-based dynamic phasor models for AC converters & grids and gyrator models for inductive power transfer (IPT) systems are extensively explained. First, power electronics models are reviewed. Conventional models such as state-space averaging, discrete state model, existence function model, DQ transformation, and dynamic phasor model are shortly reviewed with their limitations. Second, the general unified circuit-based dynamic phasor for AC power systems is extensively explained. The switched transformer model is adopted as a general equivalent circuit of converter. The circuit-based single & multi-phase AC models and quantum transformation model are explained. Then, the unified-general dynamic phasor model is provided with fruitful application examples. Third, the recently developed gyrator models for IPT systems are explained. The circuit-based static gyrator model is followed by the dynamic gyrator model for static and dynamic analyses of IPT systems, which is crucial for control of IPT. High order IPT systems are completely analysed with great ease. Lastly, the magnetic mirror model for IPT design is explained. Its application to open core plates and parallel core plates is shown. Through the proposed models, the power systems become regarded as conventional circuits.