It's Just Like Magic: The Economics of Harry Potter
Journal of Economics and Finance Education. Vol. 13 (2), Winter 2014: 90-98.
20 Pages Posted: 31 May 2013 Last revised: 23 Jan 2018
Date Written: May 31, 2013
Do the laws of economics apply in the magical world of Harry Potter? Even though J.K Rowling placed her characters in a world of magic, wizards remain subject to the implications of scarcity. As a result, the series is abundant with examples of basic economic principles. Given the popularity of the series, its use in the classroom is likely to inspire students to adopt the economic way of thinking for life. We demonstrate the pedagogical potential of the series by providing illustrations of trade-offs and opportunity costs, marginal thinking, the power of incentives, and the benefits of trade and commerce.
Keywords: Edutainment, Harry Potter, Principles of Economics, Economic Pedagogy
JEL Classification: A11, A13, A22, D01, D7, D72
Suggested Citation: Suggested Citation