PUBLIC FINANCE

Mauro Milillo

Instructional goals

The course aims to convey to students the basic notions of public finance, using an innovative approach, following in real time the main national and international economic and institutional events, actively involving students. Topics include: State intervention in the economy, the main economic theories, market failures, national and European public finance rules, cycle and economic planning tools, state budget, public debt, tax system including direct and indirect taxes, fiscal federalism, health sector, pensions.

Intended learning outcomes

Knowledge and comprehension ability: at the end of the course the student will have acquired knowledge of state intervention in economics in all its forms. Ability to apply knowledge and comprehension: the student will be able to apply the basic notions learned in the classroom to the interpretation of the Italian and European regulatory framework, improving their ability to interpret economic and fiscal phenomena. Autonomy of judgment: the student will have greater awareness of public policies and will be able to express a critical opinion on the main economic measures. Ability to communicate: the student will be able to express themselves using the technical language of the sector. Learning ability: the student will be able to continue studying the subject independently, understanding and interpreting the main causes and effects of certain economic policies

Course Contents

Public finance, tax system, political and institutional topics.

Reference Books

Milillo M., Loiero R. – Finanza pubblica, politica e istituzioni – Pearson, 2019.

Teaching Methods

Lectures in frontal teaching, testimonials and exercises with practical cases, group project presentations.

Assessment Method

The student will be evaluated as follows: 1. Project work (in group – not mandatory): 30% on the final grade. 2. Final written exam (mandatory): 70% on the final grade, or 100% if the student does not complete or accept the intermediate test or project work. The grade obtained during the project work will remain valid only for the I and II session of the summer session. In subsequent exam sessions, or if the student does not intend to take the intermediate test, the candidate will be evaluated exclusively on the basis of the written test result. Both written exams will be composed of a mix of open and multiple-choice questions. A score of at least 18/30 is required to pass. Correct answers to all questions and demonstration of excellent knowledge leads to 30/30 with the possible awarding of cum laude at the teacher's discretion.

Thesis assignment criteria

– Follow the course with interest. – Pass the exam with a satisfactory grade. – Address a current topic with a critical and innovative approach. Before each thesis session, students will be notified of the opening of a selection process – based on merit – to which they are invited to apply. Subsequently, a ranking will be formulated for the acceptance of applications.

Week 1

The State role in the economy

Week 2

Cycle and economic planning tools

Week 3

EU rules for public finance. The main economic theories and market failures

Week 4

State Budget

Week 5

State Budget

Week 6

Tax system. Direct taxes: IRPEF and IRES

Week 7

Direct taxes: IRPEF and IRES

Week 8

Indirect taxes: IVA. Fiscal decentralization

Week 9

State Budget Law

Week 10

Public Debt

Week 11

Current topics: Tax evasion. National health sector; Social security sector. Etc.

Week 12

Presentation of project work