Identify the species that is oxidized and the species that is reduced in the reaction. Write out half reactions to show how many electrons are gained or lost by each species. Include the state of each species in the equation.
Fe(s) + Al3+(aq) -> Al(s) + Fe2+(aq)
Oxidized: Fe(s)
Reduced: Al3+(aq)
Oxidation Reaction: Fe(s) -> Fe2+(aq) + 2e-
Reduction Reaction: Al3+(aq) + 3e- -> Al(s)