This lecture introduces the concept of delay effects in transmission lines by using a simple model to explain why these effects occur. The instructor illustrates the behavior of a lossless transmission line using a circuit model and analyzes the time response to a step voltage, highlighting the gradual charging process of capacitors and the establishment of currents in inductors along the line. The lecture emphasizes how these delay effects cause a time lag in propagating disturbances along the line, leading to a discussion on wave behaviors and propagation speeds.