Optical methods are powerful and non-destructive means to characterize highly doped transparent conducting oxide thin films. In order to describe the optical properties of high-mobility ZnO films we present a dielectric function composed of different analytic expressions to describe the different contributions to the dielectric function of the films. This allows for the correct description of measured optical spectra and reduces the complex functions to a set of fitting parameters. In a second step we compare the obtained parameters to theoretical models. The basic theories are nicely reproduced and the basic link between optical and electrical properties can be understood. The findings can help on the route to a complete presiction of optical properties from the basic material properties or vice versa. © 2012 Copyright Society of Photo-Optical Instrumentation Engineers (SPIE).