The Nernst Equation is a mathematical formula used in electrochemistry to calculate the electric potential of an electrochemical cell under non-standard conditions. It relates the cell potential to the concentrations of the reactants and products involved in the redox reaction, allowing for the prediction of how changes in concentration affect voltage. This equation is essential for understanding how batteries and other electrochemical systems operate. It is expressed as E = E° - (RT/nF) ln(Q), where E is the cell potential, E° is the standard potential, R is the gas constant, T is the temperature in Kelvin, n is the number of electrons transferred, F is Faraday's constant, and Q is the reaction quotient.