How Do You Calculate Induced Current in a Loop?

[saber1357]

Homework Statement

http://img27.imageshack.us/img27/1695/asdfgv.th.png

Homework Equations

Your guess is as good as mine

The Attempt at a Solution

I have no idea how to even begin this problem. What equations are relevant?

 

[Vuldoraq]

The current in the wire at the top is increasing. This means you have a changing magnetic (and elcetric) field around the wire. It follows there will be a changing magnetic flux through your loop. A changing magnetic flux will induce an current (given that certain conditions hold). You can calculate this induced emf using faradyas law of induction. Once you have an emf it is easy to find the current using the resistivity and ohms law.