This paper proposes a method to calculate the stiffness and the damping coefficients of the coupled journal and thrust bearings. The Reynolds equations and their perturbation equations are transformed to the finite element equations by considering the continuity of pressure and flow at the interface between bearings. The Reynolds boundary condition is used in the numerical analysis to simulate the cavitation phenomena. The dynamic coefficients of the proposed method are compared with those of the numerical differentiation of the loads with respect to finite displacements and velocities of bearing center. It shows that the proposed method is more accurate and efficient than the differentiation method.