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This lecture covers Bernoulli's theorem and its applications in fluid dynamics, focusing on pressure variation with section, perfect fluid behavior, and streamlines. It also discusses conservation laws, such as the conservation of mass and energy, and the Venturi tube principle. The instructor explains the dynamic and static pressures, the role of friction, and the derivation of Bernoulli's equation from the principles of continuity and Euler. The lecture concludes with practical examples and the significance of Bernoulli's theorem in understanding fluid flow.