My oven won't turn on.......?

The broiler works, and the burners on the stove work, but the oven won't do anything when I turn it on. There is this part on the bottom of the oven that glows red when I turn it on, but it doesn't ignite. Is this something that can be fixed inexpensively or will it cost me the same to just buy a new oven? Any help would be appreciated greatly!!!