This book addresses the concept and applications of Finite Time Thermodynamics to various thermal energy conversion systems including heat engines, heat pumps, and refrigeration and air-conditioning systems. The book is the first of its kind, presenting detailed analytical formulations for the design and optimisation of various power producing and cooling cycles including but not limited to: • Vapour power cycles • Gas power cycles • Vapour compression cycles • Vapour absorption cycles • Rankine cycle coupled refrigeration systems Further, the book addresses the thermoeconomic analysis for the optimisation of thermal cycles, an important field of study in the present age and which is characterised by multi-objective optimization regarding energy, ecology, the environment and economics. Lastly, the book provides the readers with key techniques associated with Finite Time Thermodynamics, allowing them to understand the relevance of irreversibilities associated with real processes and the scientific reasons for deviations from ideal performance. The book is aimed at a broad readership, and offers a valuable reference book for graduate students, scholars and professionals working in the areas of thermal science and engineering.