  In this paper, we present results of numerical lattice simulations of
two-flavor QED in three space-time dimensions. First, we provide evidence that
chiral symmetry is spontaneously broken in the chiral and continuum limit. Next
we discuss the role of an external magnetic field $B$ on the dynamically
generated fermion mass. We investigate the $B$-dependence of the condensate
through calculations with dynamical fermions using the non-compact formulation
of the gauge field, and compare the results with those of a comparable study
using the quenched approximation.
