Code-switching is a very frequent behavior observable in multilingual speakers and a typical feature of their so-called multilingual competence. A literature review has shown that models of multilingual competence do not adequately take into account code-switching. This thesis focuses on analyzing how three prominent models of multilingual competence account for code-switching. The chosen models are: The language switches model (Williams & Hammarberg, 2005), which is a developmental model explaining language production, the multilingual processing model (Meißner, 2004), which is a model focused on intercomprehensive language processing, and the dynamic model of multilingualism (Herdina & Jessner, 2002), a dynamic model of multilingual language development. The models are evaluated according to the following, previously established, criteria: The general role and the properties of code-switching taken into account by the model, the focus of the model, and the view of other psycholinguistic aspects of multilingual competence. It is concluded that each chosen model represents a different part of language acquisition and that, through their review, a useful insight into the phenomenon of multilingual competence is gained