In this work, transcritical CO₂ refrigeration cycle and combined refrigeration-power cycle have been studied. Parametric steady state first-law and second-law analysis of the simple refrigeration cycle and combined power-refrigeration cycle have been carried out. The influence of various parameters like evaporator temperature, gas cooler outlet temperature, gas heater pressure and turbine inlet temperature on coefficient of performance (COP) and second-law efficiency has been studied. It has been found that COP and second-law efficiency of combined power cycle is significantly higher as compared to simple cooling-refrigeration cycle under all operating conditions. An optimum pressure for a given gas cooler pressure is also existed for the combined power-refrigeration cycle as like CO₂ refrigeration cycle.