Did you ever say what version of Premiere Elements and what computer operating system?
For now assuming Premiere Elements 11, 12/12.1, 13/13.1, or 14 on Windows 7, 8, 8.1, or 10 64 bit
Go to Edit Menu/Preferences/Audio Hardware ASIO, and click on ASIO settings Tab to get at the Input and Output settings.
Input, make sure you have a check mark next to your microphone.
Screenshot from Premiere Elements 14 Windows 7 64 bit Edit Menu/Preferences/Audio Hardware (ASIO Settings)/Input Tab
Please consider, and supply more information so that we can customize a reply for you.
Any questions, please ask. What you describe in a normal happening.
Add On...I think you know already, but just in case, Tools Menu/Narration at top of Expert or Quick workspaces or Tools Tab/Narration at bottom of the Expert or Quick workspace.
OMG Im so stupid I was too lazy to look at the bottom thanks. I did say I use elements 13 but yea ok thanks!
Details of the Narration Tool and enabling it are important considerations that you brought forward with your question.
So good question and glad that you asked.
Please never hesitate to ask if questions or need clarification on your Premiere Elements workflows.
Thanks for the follow up.