A phase-space asymptotic approach to wave propagation in homogeneous dispersive and dissipative media is discussed which has several advantages by comparison to conventional techniques, such as the stationary phase method, ordinary ray tracing, etc. This approach, which is based on the wave-kinetic theory [1,2], is used to examine in detail three types of one-dimensional canonic dispersive and dissipative media: cubic dispersive and quadratic dissipative, cubic dispersive and quartic dissipative, quintic dispersive and quartic dissipative. Purely dissipative media are also investigated. The analysis is also carried out using standard Fourier techniques for comparison purposes. For an arbitrary medium, exact solutions are impossible. Approximations must be made which give rise to new basic functions defined in integral form. The method of steepest descents [3], the WKB method [4], the method of dominant balance [4] and the FORMAC73 language [5] are utilized to find asymptotic series for these functions.