If we drop a magnet through a coil, an emf is induced in the coil according to Faraday's law of electromagnetic induction. Here, such an experiment is done using expEYES kit. The plot of emf versus time has a specific shape with two peaks. A theoretical analysis of this graph is discussed here for both short and long cylindrical magnets. Mathematical expressions are derived for both. Knowing this equation, experiments to calculate the moment of a magnet can be devised. If we use a long conducting tube instead of a simple coil in this experiment, it can even help in measuring the eddy current damping coefficient k.