Improved equivalent circuits and circuit analysis using the same for a multilayer capacitor are provided. In one aspect, the equivalent series capacitance C and part of the equivalent series resistance R of a basic equivalent circuit for a multilayer chip capacitor are replaced with a capacitance CO, and capacitances Cm and C1 and the resistance Rc1 to take into consideration abnormal characteristics in electromagnetic distribution that occur at the corners and edges of the internal electrodes in the multilayer chip capacitor. In one aspect, additional circuit elements, such as resistances Rp1 and Rp2, the capacitance Cp, the inductances Lm and L1, and the resistance RL1, are provided to take into consideration the skin effects of the internal electrodes within the multilayer chip capacitor, electromagnetic proximity effects, losses and parasitic capacitance of the dielectric material, as well as parasitic inductance of the external electrodes.