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In this work, we theoretically analyze a circuit quantum electrodynamics design where propagating quantum microwaves interact with a single artificial atom, a single Cooper-pair box. In particular, we derive a master equation in the so-called transmon regime, including coherent drives. Inspired by recent experiments, we then apply the master equation to describe the dynamics in both a two-level and a three-level approximation of the atom. In the two-level case, we also discuss how to measure photon antibunching in the reflected field and how it is affected by finite temperature and finite detection bandwidth.