The physical principles of water hammer are explained in this volume. The basic mathematical methods of solution of water hammer and ways of limiting its effects are covered. Detailed description is given of the method of characteristics and the corresponding programs for personal computers, which enables solution of water hammer in a wide variety of hydraulic systems encountered in practice. Examples are given of solution of water hammer of common pipe-line systems as well as calculation of the steady state of flow, the determination of discharge through a pipe-line, measurements of characteristics of valves, pumps, turbines, determination of the operating regime of a valve in order to ensure a desired pressure and discharge curve, etc. This book will be of interest to those civil, mechanical and petroleum engineers dealing with the design and operation of hydraulic systems.