The document discusses electromagnetic induction, which is the production of an electromotive force across a conductor when it is exposed to a varying magnetic field. It was discovered by Michael Faraday and Joseph Henry in 1831. Faraday's law of induction states that the induced electromotive force in a closed circuit is equal to the rate of change of the magnetic flux through the circuit. Applications of electromagnetic induction include electric generators, magnetic flow meters, induction motors, and transformers. Eddy currents in conductors can be reduced through the use of thin laminated sheets in devices like electromagnets.