I have the following problem:
Find the unique metric $\rho=\rho(z)\left|dz\right|$ on the punctured unit disk $\Delta^{*}$ such that $\pi^{*}(\rho)=\left|dz\right|/(\mathrm{Im}(z))$ where $\pi: \mathbb{H} \rightarrow \Delta^{*}$ is the universal covering map. Then, show that the volume
$V(r)=\int_{0<\left|z\right|<r}\rho(z)^{2}\left|dz\right|^{2}$
is finite for each $0<r<1$ and compute its value. Finally, verify that $V(r)=2V(r^{2})$ and give the intuition here.
Here is what I have done thus far: I used the universal covering map $\pi(z)=e^{iz}$ which then induces a metric $\rho(z)=\frac{1}{z\log(z)}dz$. We get this because $\frac{(dx)+(dy)}{y}$ is the metric on the upper half plane that clearly corresponds to $\left|dz\right|/(r\log(r))$ where $\left|z\right|=r$ and $y=\log(r)$. This tells us that the circle has a length of $\frac{2{\pi}}{\log(r)}$, which tends to zero as $r$ goes to zero. I think this is all pretty reasonable so far. Now we check our pullback condition imposed on the universal covering map. That is ${\pi}^{*}(\rho(z))=\rho(\pi(z))\left|dz\right|$, which is clearly equivalent to $\left|dz\right|/(\mathrm{Im}(z))$ given how we have defined the universal covering map and the induced metric on the punctured unit disk.
All of this seems to work, but I am having difficulties computing the volume. I'm not exactly sure what is going wrong, but if someone could show me the finiteness of the integral and the computation I would be grateful. Also, what does it mean exactly to compute this volume with respect to the hyperbolic metric?
The density of a metric should be positive; what you really meant was $$ \rho(z)=\frac{1}{|z|(-\log |z|)} \,|dz| $$ Also, $\frac{dx+dy}{y}$ should be $\frac{\sqrt{dx^2+dy^2}}{y}$ or simply $\frac{|dz|}{\operatorname{Im}z}$.
The integration of $\rho^2$ is an exercise with polar coordinates. It helps that $\rho$ depends only on the polar radius, denoted $t$ below: $$ V(r) = 2\pi \int_0^r \frac{1}{t^2 \log^2 t}\,t\,dt = 2\pi \int_{-\infty}^{\log r} \frac{1}{s^2} \,ds = \frac{2\pi}{-\log r} $$ One interpretation of $V(r^2)=2V(r)$ would be: $z\mapsto z^2$ is locally an isometry of the punctured disk onto itself, and it covers it twice.
Volume with respect to metric $\rho(z)\,|dz|$ is the integral of $\rho^2$ over the relevant region.