This lecture covers the behavior of electric and magnetic fields on closed paths, the interaction of fields with electrons, the production of electric and magnetic fields by time-dependent fields, and the forces exerted on loads by these fields. It also explains the microscopic and intuitive interpretations of these phenomena, the induction of current in conductors moving in magnetic fields, and the opposition of induced currents to external flows. Additionally, it explores the applications of Faraday-Lenz law, the conversion of electrical energy into mechanical energy, and the quasi-static conditions under which magnetostatic equations can be applied.