PUBLIC FINANCE

Anno accademico 2018/2019 - 2° anno
Docente: Calogero Guccio
Crediti: 9
SSD: SECS-P/03 - Scienza delle Finanze
Organizzazione didattica: 225 ore d'impegno totale, 165 di studio individuale, 60 di lezione frontale
Semestre:
ENGLISH VERSION

Obiettivi formativi

Course taught in English

1. Knowledge and understanding: The course’s goal is to provide students with advanced knowledge and skills on the role of public finance and the effects of taxation in the modern market economies. The course will develop analytical knowledge of the main tools of the public sector’s financial activity, with particular regard to those of public accountancy and national budget, following the most recent theoretical developments and normative provisions.

2. Applying knowledge and understanding: The knowledge of the main tools of the public sector’s activity will enable students to use and interpret the main documents of public finance, while the development of analytical skills on the structure and the implications of the different tax models will allow them to deal with the problems related to economic-managerial decisions, thus taking into account the effects caused by taxation.

3. Making judgements: The acquisition of analytical competences concerning the basic variables and tools of public finance will enable students to autonomously evaluate the fiscal and economic-financial implications of different investment choices, as well as the different economic-managerial phenomena, taking into account also the taxation aspect.

4. Communication skills: The student will develop communication skills and an appropriate technical language, with special regard to the analysis of the macroeconomic and microeconomic context, concerning those variables of public finance which are relevant for corporate finance decisions, so as to be able to convey technically rigorous information to experts and non-experts.

5. Learning skills: Students’ learning skills will be stimulated through a proper interaction and discussion on the general knowledge and skills and on their application to case studies.


Modalità di svolgimento dell'insegnamento

The course is held through traditional teaching tools with lectures, carried out with the support of slides and additional educational material that is made available to students through the Studium platform. In order to consolidate the understanding of the topics covered and the analytical skills of the students at the end of the discussion of the individual topics in the program, there will be classroom exercises carried out by the teacher.


Prerequisiti richiesti

Although not mandatory, a good knowledge of microeconomics tools at intermediate level is strongly recommended. Furthermore some knowledge of intermediate calculus and statistics is endorsed.


Frequenza lezioni

Normally mandatory


Contenuti del corso

Market failures and government intervention. The tools of public finance, the role of the national budget and fiscal policy. The analytical tools of public finance, the role of the budget and fiscal policy. general issues involved in taxation of income from different sources such as labour, risk taking, wealth and business income, including the treatment of corporate income. Analyse both the short- and long-run impacts of the income tax on output, allocation of time, labour supply and investment, and more general on the efficiency of resource use. Discuss the incidence of the labour, risk taking, wealth and business income tax, including its effect on product prices, return to investment, and wages. The tax system in practice: the personal income tax, the value added tax, the taxation of capital and business income. Taxation and regulation of the financial Sector. The course consists of 30 lectures, each lasting 2 hours.


Testi di riferimento

1. J. Gruber, Public Finance and Public Policy. 3rd ed. Worth Publishers, 2009. (Chapters, 1, 2, 18, 19, 20, 21, 22, 23, 24).

2. Hindriks, J., and Myles, G. D. Intermediate public economics. Cambridge: MIT press, 2006. (Chapter, 14 – excluding paragrafs 14.8 and 14.9, Chapter,15 – excluding paragrafs 15.6, 15.7, 15.8, and 15.9).

3. R. de Mooij and G. Nicodème (Eds). Taxation and Regulation of the Financial Sector: MIT Press, 2014. (Chapters, 1, 2, 3, 4, 5, 10, 11, 12, 13).

Other useful readings:

B. Salanie. The Economics of Taxation, Cambridge: MIT Press, 2010.

L. Kaplow. The Theory of Taxation and Public Economics. Princeton University Press, 2008.

RW. Boadway. From optimal tax theory to tax policy: retrospective and prospective views. MIT Press, 2012.



Programmazione del corso

 ArgomentiRiferimenti testi
11. Introduction of public financeText 1. (Gruber): Chapter 1 
22. Theoretical and empirical tools for public finance (first part)Text 1. (Gruber): Chapter 2 
33. Theoretical and empirical tools for public finance (second part)Text 1. (Gruber): Chapter 2 
44. ExercisesTeaching Material 
55. Introduction on taxation (first part)Text 1. (Gruber): Chapter 18 - Teaching Material 
66. Introduction on taxation (second part)Text 1. (Gruber): Chapter 18 - Teaching Material 
77. ExercisesTeaching Material 
88. Equity and efficiency implications on taxation (first part)Text 1. (Gruber): Chapters 18 – 19 – Teaching Material 
99. Equity and efficiency implications on taxation (second part)Text 1. (Gruber): Chapters 18 – 19 – Teaching Material 
1010. ExercisesTeaching Material 
1111. Taxes on Labor Supply (first part)Text 1. (Gruber): Chapters 21 - Teaching Material 
1212. Taxes on Labor Supply (second part)Text 1. (Gruber): Chapters 21 - Teaching Material 
1313. ExercisesTeaching Material 
1414. Taxes on saving and on Risk Taking and Wealth (first part)Text 1. (Gruber): Chapters 22 – 23 
1515. Taxes on saving and on Risk Taking and Wealth (second part)Text 1. (Gruber): Chapters 22 – 23 
1616. Taxes on saving and on Risk Taking and Wealth (third part)Text 1. (Gruber): Chapters 22 – 23 
1717. ExercisesTeaching Material 
1818. Corporate taxation (first part)Text 1. (Gruber): Chapter 24 - Teaching Material 
1919. Corporate taxation (second part)Text 1. (Gruber): Chapter 24 - Teaching Material 
2020. A more advanced treatment of the effects of Taxation: introductionText 2. (Hindriks and Myles): Chapters 14 -15 - Teaching Material 
2121. A more advanced treatment of the effects of Taxation: optimal taxationText 2. (Hindriks and Myles): Chapters 14 -15 - Teaching Material 
2222. A more advanced treatment of the effects of Taxation: optimal taxationText 2. (Hindriks and Myles): Chapters 14 -15 - Teaching Material 
2323. A more advanced treatment of the effects of Taxation: optimal taxationText 2. (Hindriks and Myles): Chapters 14 -15 - Teaching Material 
2424. Taxation and Regulation of the Financial Sector (first part)Text 3. (de Mooij & Nicodème): Chapter 1 - Teaching Material 
2525. Taxation and Regulation of the Financial Sector (second part)Text 3. (de Mooij & Nicodème): Chapters 2 and 3 - Teaching Material 
2626. Taxation and Regulation of the Financial Sector (third part)Text 3. (de Mooij & Nicodème): Chapters 4 and 5 - Teaching Material 
2727. Further topics on Taxation and Regulation of the Financial Sector Teaching Material 
2828. Evidence on the Efficacy of Taxation and Regulation of the Financial Sector (first part)Text 3. (de Mooij & Nicodème): Chapters 10, 11 - Teaching Material 
2929. Evidence on the Efficacy of Taxation and Regulation of the Financial Sector (second part)Text 3. (de Mooij & Nicodème): Chapters 12, 13 - Teaching Material 
3030. Evidence on the Efficacy of Taxation and Regulation of the Financial Sector: further topicsTeaching Material 

Verifica dell'apprendimento

Modalità di verifica dell'apprendimento

Evaluation is always carried out by means of a written exam test.


Esempi di domande e/o esercizi frequenti

Because the evaluation is carried out by means of a written exam is strongly suggest to review the self-assessment questions and tests reported at the end of each chapter of the Text 1 and Text 2. In Studium website are also available some examples of examinations delivered in past years. Further tests will be provided during the course and made available via the “Studium” course webpage: