We present a general method for calculating wave-packet evolution in the context of ultracold atoms in matter-wave interferometers. This method provides an efficient tool for analyzing the performance of atomic interferometers based on atom clouds initially prepared in a trap in a Bose-Einstein condensate (BEC) state or in a thermal distribution. Without having to solve explicitely the Gross-Pitaevskii or the Schrödinger equation, this provides a good estimation of dynamic wavepacket properties such as size and phase across the wave-packet, and slows to predict the coherence of the interferometer. We develop a generalized Thomas-Fermi approximation for a BEC in a harmonic trap, which is valid for any atom-atom interaction strength. In particular, this approximation also provides a good estimation of the transition from a three-dimensional to a one-dimensional BEC in an elongated trap. The approximation is followed by a theory of dynamic wave-packet evolution when the trap is fully or partially switched off and the atoms are split and propagate, for example, in free space or in a matter waveguide. The method is applied for studying two examples of interferometric effects: reduction of coherence of two-state interferometers due to imperfect spatial recombination of the two interferometer arms (the "Humpty-Dumpty effect") and phase diffusion due to number uncertainty in the two interferometer arms, which was previously studied thoroughly only for interferometric schemes where the BECs in the two arms stay trapped (for example, in a double-well potential). For both effects we extend the applicability of the theory to a wide range of interferometric scenarios that were not included in previous theories.