The course covers essential financial and life cycle costing concepts for rotating machinery. It begins with basic definitions and principles, followed by methods for economic analysis, including both non-discounting and discounting techniques. The LCC methodology outlines steps for data collection, computing costs, and comparing results. Practical applications of LCC in decision-making and optimization are discussed, along with implementation challenges and advanced modeling tools. The course emphasizes the importance of integrating economic analysis with technical evaluations.