From Wikipedia:

Electromagnetic or magnetic induction is the production of an electromotive force (emf) across an electrical conductor in a changing magnetic field.

Michael Faraday is generally credited with the discovery of induction in 1831, and James Clerk Maxwell mathematically described it as Faraday's law of induction. Lenz's law describes the direction of the induced field. Faraday's law was later generalized to become the Maxwell–Faraday equation, one of the four Maxwell equations in his theory of electromagnetism.

Electromagnetic induction has found many applications, including electrical components such as inductors and transformers, and devices such as electric motors and generators.

History

In Faraday's first experimental demonstration (August 29, 1831), he wrapped two wires around opposite sides of an iron ring or "torus" (an arrangement similar to a modern toroidal transformer). Based on his understanding of electromagnets, he expected that, when current started to flow in one wire, a sort of wave would travel through the ring and cause some electrical effect on the opposite side. He plugged one wire into a galvanometer, and watched it as he connected the other wire to a battery. He saw a transient current, which he called a "wave of electricity", when he connected the wire to the battery and another when he disconnected it. This induction was due to the change in magnetic flux that occurred when the battery was connected and disconnected. Within two months, Faraday found several other manifestations of electromagnetic induction. For example, he saw transient currents when he quickly slid a bar magnet in and out of a coil of wires, and he generated a steady (DC) current by rotating a copper disk near the bar magnet with a sliding electrical lead ("Faraday's disk").

Faraday explained electromagnetic induction using a concept he called lines of force. However, scientists at the time widely rejected his theoretical ideas, mainly because they were not formulated mathematically. 

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