“Swiftonomics: The Economics of Taylor Swift” is being conducted at a university to examine the impact of artists on the market in teaching students about economics.
The course, offered for the first time this semester at American University, was designed by two students for a course competition last spring and won. “Swiftonomics” was supposed to be a one-time offering, but plans were to make it available in the spring due to strong interest, WTOP reports.
“I think people think of economics as this scary thing with a lot of numbers and it’s very complicated, but when you take apart the things you love in the world, you can connect them and make it’s much simpler and more fun,” Mackenzie Shultz, one of the course’s designers, told WTOP.
The course is taught by Economics Department Chair Kara Reynolds. On the first day of class, she sent her students home with materials to make friendship bracelets, which have become a must-have for fans at Swift’s Eras Tour. But instead of bracelets based on songs, the bracelets feature words like “inflation” and “demand.”
In recent lessons, students have learned about the externalities and economic spillovers from the Eras Tour, such as the tendency for fans to stay in hotels or eat out while attending concerts. What is her music like? Students also consider the environmental impacts caused by concert attendees and show production.
The past three weeks of the course have also looked at the Ticketmaster scandal and the spike in attention to it after tickets to the Eras Tour were released online. The class also discussed how the Eras Tour might have helped prevent the United States from falling deeper into recession.
Teddy Gelman, a student in the class, told WTOP: “I urge everyone who thinks all this talk of the Eras Tour is unserious and fringe to reconsider and think about how real it is. How does it affect many areas of economic life?
The class not only attracts students studying economics but also students majoring in journalism and politics. Reynolds told the outlet that the class is also almost entirely female, which contrasts with most economics majors being male.
“Having a room of women who feel confident talking and giving their opinions is very rewarding for me as a faculty member,” Reynolds told WTOP.
Originally published in Latin Times.
TagsTaylor Swift, The Eras Tour, Ticketmaster