A balanced ionic equation can be split into 2 half equations. For example:
Mg(s) + Cu^2+(aq) —> Mg^2+(aq) + Cu(s)
Mg(s) —> Mg^2+(aq) + 2e^-
magnesium atoms lose electrons - oxidisation
Cu^2+(aq) + 2e^- —> Cu(s)
copper ions gain electrons - reduction
Reduction and oxidisation happen at the same time, so the reactions are called redox reactions