This document discusses power system fundamentals and the per-unit system used for power system analysis. It begins with an introduction to power systems and covers topics like synchronous machines, transmission lines, power flow, and stability. It then describes the per-unit system for expressing voltages, currents, powers and impedances on a common base. Examples are provided for calculating per-unit values and transforming between bases. The per-unit equivalent circuits are developed for one-phase circuits and transformers.