**Abstract**

Heat exchangers are the mainstay of thermal systems and have been extensively used in desalination systems, heating, cooling units, power plants, and energy recovery systems. This chapter demonstrates a robust theoretical framework for heat exchangers investigation based on two advanced tools, i.e., exergoeconomic analysis and Normalized Sensitivity Analysis. The former is applied as a mutual application of economic and thermodynamic analyses, which is much more impactful than the conventional thermodynamic and economic analyses. This is because it allows the investigation of combinatory effects of thermodynamic and fiscal parameters which are not achieved with the conventional methods. Similarly, the Normalized Sensitivity Analysis allows a one-on-one comparison of the sensitivity of output parameters to the input parameters with entirely different magnitudes on a common platform. This rationale comparison is obtained by normalizing the sensitivity coefficients by their nominal values, which is not possible with the conventional sensitivity analyses. An experimentally validated example of a plate heat exchanger is used to demonstrate the application of the proposed framework from a desalination system.

**Keywords:** exergoeconomic analysis, normalized sensitivity analysis, heat exchangers, theoretical framework
