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This lecture covers the concept of phase transitions, including phase and phase transition, concavity of entropy, convexity of internal energy, stability and entropy, stability and thermodynamic potentials, types of phase transitions, coexistence of phases, phase diagrams, critical point, and fluid phase. The instructor explains the criteria for stability of internal energy, coexistence of phases, and the Clausius-Clapeyron relation. The lecture also discusses latent heat of fusion and vaporization, Gibbs phase rule, and Gibbs phase experiment with real gases.