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This lecture covers the fundamental theorems of circuits and systems, focusing on linear elements and power in circuits. It explains the superposition theorem with examples and the substitution of sources. The lecture also introduces Thévenin and Norton equivalents, discussing how to replace complex circuits with simpler ones. It explores methods to determine the resistance of Thévenin and Norton equivalents, including cases with dependent sources. Additionally, it addresses maximum power transfer in circuits and how to find the load resistance for maximum power. The session concludes with a practical exercise on Thévenin equivalents and the concept of maximum power transfer.