The course analyses the effects of public intervention in various fields: a) taxation; b) public expenditures; c) regulation; d) direct production. The aim of the course is to provide students with a good level of theoretical and practical knowledge of the activity of the public sector in market economies.

1. Public Finance and welfare economics.
2. Market failures: monopoly, natural monopoly, externalities, public goods, asymmetric information. Merit goods.
3. Classification of taxes; tax base and tax rate structure; methods of progressivity; benefit principle and sacrifice principles; the excess burden of taxation; optimal taxation; the effects of taxation on consumption, savings and labour supply; tax shifting in perfect competition and in monopoly.
4. Theory of public expenditures and public debt.
5. Direct public production and regulation; natural monopoly in public utilities.
6. Theory and practice of fiscal federalism.

Mathematics; Economics I

The aim of the course is to provide base knowledge about the role of the public sector in market economies. Analytical and empirical techniques will be used to match theory and practice. One can expect to achieve a good autonomy of judgement on the topic, sound communication abilities on specific issues and a good general understanding to favour further developments of the subject.

Class discussions, Seminars

Modalità didattiche

The course will consist of lectures and class discussions. Seminars in English upon request.

Testi di studio

A collection of articles and parts of books in English (to be announced) including parts of the following texts:

a) Stiglitz J.E., Economics of the public sector, 3rd edition, W.W. Norton
and Company, 2000;

Alternatively:

b) Cullis J.G., Jones P.R., Public Finance and Public Choice, 3rd edition,
Oxford University Press, 2002.

Other textbooks may be agreed upon with the course instructor.

Modalità di
accertamento

Oral exams (either in Italian or in English).

Disabilità e DSA

Le studentesse e gli studenti che hanno registrato la certificazione di disabilità o la certificazione di DSA presso l'Ufficio Inclusione e diritto allo studio, possono chiedere di utilizzare le mappe concettuali (per parole chiave) durante la prova di esame.

A tal fine, è necessario inviare le mappe, due settimane prima dell’appello di esame, alla o al docente del corso, che ne verificherà la coerenza con le indicazioni delle linee guida di ateneo e potrà chiederne la modifica.