Explain why, when the switch is closed and the magnet is oscillated vertically, the oscillations will dampen.
Here's my approach:
Assuming the bottom end of the magnet is the North pole, when this end moves downwards in the coil, the magnetic flux increases in the downwards direction. Thus, by Lenz's law, the resulting induced current must produce a magnetic field that is in the upwards direction inside the coil.
For this to happen, the current must be going counter-clockwise.
From here, I can't get to the conclusion that there will be an upwards force on the magnet when it moves downwards, and a downwards force on the magnet when it moves upwards.