The one-loop effective action for a slowly varying electromagnetic fie
ld is computed at finite temperature and density using a real-time for
malism. We discuss the gauge invariance of the result. Corrections to
the Debye mass from an electric field are computed at high temperature
and high density. The effective coupling constant, defined from a pur
ely electric weak-field expansion, behaves at high temperature very di
fferently from the case of a magnetic field, and does not satisfy the
renormalization group equation. The issue of pair production in the re
al-time formalism is discussed and also its relevance for heavy-ion co
llisions.