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This lecture covers the concepts of nucleation and growth, Ostwald ripening, LaPlace pressure, and Kelvin equation. It explains the phase equilibrium in multi-phase systems, the chemical potential of phases of finite size, and the size dependence of generic phase transitions. The instructor discusses the critical micelle concentration, self-assembly, and the temperature dependence of nucleation rate. The lecture also delves into the heterogeneous nucleation at interfaces and the melting point depression phenomenon.