Economics wizards calculate cost to attend Hogwarts

Jul 20, 2011 By Jordan Reese

In honor of the release of the final Harry Potter film, Harry Potter and the Deathly Hallows: Part 2, two Lehigh University economics students decided to investigate what it would cost to attend the prestigious Hogwarts School of Witchcraft and Wizardry.

Their blog post, How Much Does It Cost to Go to Hogwarts?, attracted major media attention in outlets including the Washington Post, Time and the Huffington Post as the film opened to boffo box office business of $476 million worldwide.

Anjan Gupta '12 and Dan Maryanovich '12 are two members of The Economics Society at Lehigh who run the blog, Centives, a collection of interesting economics studies akin to the popular New York Times bestseller, Freakanomics. The undergraduates have written previously on whether law school is worth the price of admission and the economics of movie theater popcorn.

For this, their most popular entry, Gupta and Maryanovich made a few assumptions to arrive at their conclusion that a year at Hogwarts costs approximately $42,752.  The price includes tuition (based upon the average cost of England’s most prestigious—and real—boarding schools) as well as estimated costs for all the items detailed on page 51 of the first book, and the Philosopher’s Stone: robes, a plain pointed hat, dragon hide gloves and a winter cloak.

After just a few short days online, with a push from Lehigh’s Twitter account, the Centives blog received more than 18,000 page views and more than 400 re-tweets.

“The response has been unbelievable for us,” Gupta says. “We’re still getting thousands of views a day and we’ve been reading through Twitter posts about it from all over the world. Dan and I are talking to each other every day to see if we can build on this and continue to produce things that people would like to read.”

College of Business and Economics Dean Paul Richard Brown says the efforts of Gupta and Mayanovich “demonstrate the ingenuity and energy of so many of our students. The Harry Potter books and films are a global phenomenon, so it’s wonderful that Anjan and Dan applied their economics background and imagination to a subject that fascinates and delights so many.”

Explore further: The significance of digits: just how reliable are reported numbers?

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User comments : 5

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mrwolfe
not rated yet Jul 21, 2011
Crikey! It's costing $30k a year for my daughter to be at the school she's at, for another $12k she could be going to Hogwarts!
JennyWeasley
not rated yet Jul 21, 2011
Actually if you convert $42'752 to galleons,sickles and knuts it only costs 4245 galleons 8 sickles and 5 knuts to attend a year at Hogwarts.
Peace out muggles.
Quasi_Intellectual
not rated yet Jul 21, 2011
Actually, based on the "Exchange rate" provided by J.K. Rowling in 2001, where she stated that one Galleon were approximately 5 GBP, the cost would be around 5363 Galleons.

This is without taking the metal values of the coins into consideration, and provided the wizard-valuta are somewhat unaffected by the rise and fall of a certain dark wizard.
Shelgeyr
not rated yet Jul 21, 2011
Words cannot adequately express how happy I am that my own college activities did not end up as international news.
moviemaedchen
not rated yet Jul 22, 2011
Actually, it's unlikely that students pay any tuition. We never hear of tuition costs in the books, and even poor students have no trouble actually attending. There is a fund to cover materials only, for those without the money, but no tuition fund. And since it is the only magical school in Britain and schooling is mandatory, it's likely that it is subsidized by the Ministry. Comparing it to paid boarding schools is a false move, since the competitive environment between multiple schools does not apply.

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