Darwyyn Deyo, George Mason University Department of Economics, and Marta Podemska-Mikluch, Beloit College, have published It's Just Like Magic: The Economics of Harry Potter.
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.
Are economists just wild about Harry? Maybe if his adventures demonstrate the laws of the dismal science. Download the paper from SSRN at the link.