- A theoretical model is presented for the low-frequency magnetoelectric (ME) effect in three- layered magnetostrictive-piezoelectric laminates. The model considers both the laminate finite size and the detection circuitry loading (closed-circuit conditions). The model development is based on a system of electroelasticity and magnetoelasticity equations and takes into account the boundary conditions at the inner and outer surfaces of the laminate. An averaging method is used to estimate the effective parameters of the laminate materials. The ME voltage coefficient for transverse fields is obtained theoretically. The obtained solution allows us to set up the laminate equivalent electrical circuits and to find their electrical parameters in terms of the physical properties of the laminate and its geometry.