The electrochemical performance of mesocarbon microbeads (MCMB)-lithium manganese oxide (LMO) spinel cells is examined by cyclic voltammetry, galvanostatic cycling and electrochemical impedance spectroscopy. The loss in capacity in full-cells is attributed to occurrence of parasitic reactions at the two electrodes. The contribution of each electrode in full-cell degradation is ascertained through testing of MCMB and LMO half-cells, with the former exhibiting a faster rate of degradation as compared to the latter. Lithium diffusion coefficient of MCMB and LMO electrodes are determined using the galvanostatic intermittent titration technique at various stages of cycling. The experimentally measured parameters are used to simulate the electrochemical behavior of MCMB and LMO half-cells. The computed capacity and cell potential variation show good agreement with experimentally obtained data for half-cells at 1C and 2C currents. The MCMB half-cell simulations reveal that loss in discharge capacity occurs due to thickening of SEI film, increase in gas formation and loss in cyclable lithium. Simulations of LMO half-cells show that capacity loss with cycling is a result of reduction in active material, increase in surface resistance with inactive material deposition and loss in cyclable lithium.