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This lecture covers the concepts of oxidative addition and reductive elimination in organometallic chemistry, focusing on the coordination number and oxidation state changes at the metal center. It discusses ligand association and dissociation, the importance of geometry in transition metal complexes, and factors influencing these reactions. The lecture also explores insertion reactions, B-elimination products, and examples of these reactions with various ligands. Additionally, it explains the mechanism of migratory insertion and factors affecting the rate of insertion. The lecture concludes with exercises on identifying compounds that can undergo oxidative addition.