Oxidation and reduction reactions, also called redox reactions, involve the transfer of electrons between reactants. In redox reactions, one reactant gets oxidized by losing electrons while another reactant gets reduced by gaining electrons. The reactant that loses electrons is the oxidizing agent, while the reactant that gains electrons is the reducing agent. Redox reactions can be identified by changes in oxidation numbers, which are assigned to track electron gains and losses. Balancing redox equations requires splitting the overall reaction into separate half-reactions for oxidation and reduction, then combining the half-reactions by adding electrons to balance charges.