In this paper an attempt is made to study various electrical systems through the soundcard and thereby to develop a low cost scheme which can be used for identification and study of various SISO systems. The developed system acts as a signal generator as well as a signal analyzer. Pure sinusoids have been successfully generated by this approach. Study of impedances of a system has been successfully examined at various frequencies. This method can be extended for multiple channel soundcards and thereby in the analysis of MIMO systems also.