This lecture covers dynamic memory allocation in C, focusing on the realloc function. The instructor explains how realloc changes the size of an allocated memory area, allowing for both increases and decreases in size. It is emphasized that realloc functions similarly to malloc, with the potential to move the pointer if necessary while maintaining data integrity. The lecture details the behavior of realloc, including what happens when it fails, such as returning NULL and leaving the old memory unchanged. The instructor also discusses the implications of reallocating memory, including the fact that the newly allocated memory is not initialized. The lecture provides examples of how to implement realloc, including the syntax and the conditions under which it operates. The importance of understanding realloc's functionality in the context of dynamic arrays is highlighted, ensuring that students grasp the nuances of memory management in C programming.