keith - no you're just describing a ceramic top electric burner.
an induction burner *may* look like that but that's where the similarities end.
most of the ones i've seen look like a giant stir plate. they don't get hot - all the heat is created by magnetic force I believe.
they are really cool, super efficient and safer than either gas or electric. i have a friend that brews on one (has a higher power one i presume and uses marbles to maintain a rolling boil). but they are also pretty damned expensive, and as one poster mentioned, usually requires new cookware...