The 5-moment two-fluid plasma model uses Euler equations to describe the ion and electron fluids, and Maxwell's equations to describe the electric and magnetic fields. Two-fluid physics becomes significant when the characteristic spatial scales are on the order of the ion skin depth and characteristic time scales are on the order of the inverse ion cyclotron frequency. The two-fluid plasma model has disparate characteristic speeds ranging from the ion and electron speeds of sound to the speed of light. Explicit and implicit time-stepping schemes are explored for the two-fluid plasma model to study the accuracy and computational effectiveness with which they could capture two-fluid physics. The explicit schemes explored include the high resolution wave propagation method (a finite volume method) and the Runge-Kutta discontinuous Galerkin method (a finite element method). The two-fluid plasma model is compared to the more commonly used Hall-MHD model for accuracy and computational effort using an explicit time-stepping scheme. Simulations of two-fluid instabilities in the Z-pinch and the field-reversed configuration are presented in 3-dimensions.