Entering your economics era: BSc Economics, Finance and Data Science students take centre stage at the Bank of England’s Swiftonomics event

Swiftonomics: the UK tour effect

Our student team – Maya, Nikita and Sofia – worked closely with Senior Teaching Fellow, Dr Maria Psyllou, to design a research project that used Taylor Swift’s UK tour as a real-world case study. Their findings were presented to an audience of nearly 300 attendees - from Swifties to economists - through an engaging poster exhibition titled Swiftonomics: The UK Tour Effect.

Utilising their learnings from their BSc Economics, Finance and Data Science programme so far, the students broke down how large-scale cultural events can create a far-reaching and impactful economic ripple effect, linking classroom theory to real scenarios.

"The Bank of England x Taylor Swift event was an amazing opportunity to represent the university as an ambassador, connect with fellow economics enthusiasts, and share our passion, while helping introduce new students to the subject in a fun, engaging way," said Sofia.

The set list: what the students explored

The team’s analysis focused on four key economic principles that were illustrated through the tour's far-reaching impact:

• The Multiplier Effect
  Each concert didn’t just fill stadiums - it boosted local economies. Spending on hotels, restaurants, transport and merchandise stimulated further economic activity in host cities. This multiplier effect also plays out during large-scale events like the Olympics, where a sharp increase in visitors drives demand for local services.
• Consumer Surplus
  Many fans were willing to pay above face value for tickets. The gap between what people were prepared to pay and the actual ticket price is consumer surplus. You’ll also see this when people queue overnight for the latest tech or limited-edition releases. This is economics wrapped up in emotion and is a great way to measure perceived value.
• Price Elasticity
  Despite rising prices, ticket demand remained high - a clear example of inelastic demand, where emotional or cultural value outweighs cost. This isn’t unique to concerts. We see it with fuel and public transport too – things that people need for commuting and transport despite rising costs. In contrast, meals out or retail purchases tend to have more of an elastic demand, meaning that customers respond more to changing prices.
• Positive Externalities
  Beyond direct spending, Taylor Swift’s presence brought wider benefits: increased tourism, boosted visibility for local areas and increased business for non-tour-related sectors.

"Together with Maya and Sofia and the support of Dr Psyllou, we spent weeks researching and designing our poster to illustrate how Taylor Swift's Eras Tour rippled through the UK economy - from the multiplier effect in local communities to concepts like consumer surplus and positive externalities," said Nikita.

Why this matters: a new era for economics education

At Imperial Business School, the BSc Economics, Finance and Data Science programme is rooted in the real – key insights from applied learning, real-world problem solving and meaningful impact on students’ futures.

Events like Swiftonomics are an opportunity to connect academic theory with relevant cultural moments, using their skills creatively, contextualising their learnings and gaining practical experience.

By looking at the cultural phenomenon of Taylor Swift’s Eras Tour through an economics lens and explaining concepts like inelastic demand and the multiplier effect to an audience enables students to think beyond the classroom and develop key skills needed to thrive in today’s business market.

Thinking critically, interpreting data, storytelling with numbers and translating technical insights into engaging presentations are vital skills across a variety of sectors – including finance, consulting, policy, media and tech.

“This project reinforced our belief that economics is not just textbooks and models — it’s woven through our lives, even in friendship bracelets and sold-out stadiums,” Nikita reflected.