Yes. There's not jumper though? That's crummy. Mine had one.
Condensor mikes are powered and automatically shelf or adjust sound levels so as not to send 'spikes' to the recorder/mixer. At least I think that's how they work. In live audio, you mostly see them for cymbals on drum sets, and vocal applications in the studio. Most pros still use normal dynamic mics for performing.
This might be a bit delicate for ya, but try taking some speaker wire apart (if you've got some) and wrap a single wire (the little tiny strands) around the two posts that are supposed to be jumpered to switch it to dynamic. Or you might be able to purchase jumpers at Radio Shack for all I know.