The net flow of electrolyte induced by an ac electric potential applied to an array of asymmetric pairs of microelectrodes has recently been reported. The interaction between the oscillating electric field and the oscillating induced charge at the diffuse double layer on the electrodes results in a steady electro-osmotic velocity distribution on top of the electrodes. This slip velocity distribution is anisotropic and produces a net flow of fluid. This paper presents a theoretical analysis of the pumping phenomena based upon an electro-osmotic model in ac fields. The electrical equations are solved numerically using the charge simulation method. The bulk flow generated by the electro-osmotic slip velocity is calculated. The dependence of the fluid flow on voltage and frequency is described and compared to experiments.