In this article we describe an experimental learning path about electromagnetic induction which uses an Atwood machine where one of the two hanging bodies is a cylindrical magnet falling through a plexiglass guide, surrounded either by a coil or by a copper pipe. The first configuration (magnet falling across a coil) allows students to quantitatively study the Faraday-Neumann-Lenz law, while the second configuration (falling through a copper pipe) permits learners to investigate the complex phenomena of induction by quantifying the amount of electric power dissipated through the pipe as a result of Foucault eddy currents, when the magnet travels through the pipe. The magnet's fall acceleration can be set by adjusting the counterweight of the Atwood machine so that both the kinematic quantities associated with it and the electromotive force induced within the coil are continuously and quantitatively monitored (respectively, by a common personal computer (PC) equipped with a webcam and by freely available software that makes it possible to use the audio card to convert the PC into an oscilloscope). Measurements carried out when the various experimental parameters are changed provide a useful framework for a thorough understanding and clarification of the conceptual nodes related to electromagnetic induction. The proposed learning path is under evaluation in various high schools participating in the project "Lauree Scientifiche" promoted by the Italian Department of Education. (Contains 15 figures and 2 footnotes.)