This paper presents a Matlab-based voltage stability toolbox (VST) designed to analyze bifurcation and voltage stability problems in electric power systems. VST combines proven computational and analytical capabilities of bifurcation theory, and symbolic implementation and graphical representation capabilities of Matlab and its toolboxes. The motivation for developing the package is to provide a flexible simutlation environment for an ongoing research conducted at the Center for Electric Power Engineering (CEPE) of Drexel University, Philadelphia, PA, and to enhance undergraduate/graduate power engineering courses. VST is a very flexible tool for load flow, small-signal and transient stability, and bifurcation analysis. After a brief summary of power system model and local bifurcations, the paper illustrates the capabilities of VST using the IEEE 14-bus system as an example and describes its successful integration into power engineering courses at Nigde University, Nigde, Turkey.