COURSE PROGRAM
The course is divided in two parts. In the first one, once the main functions of the public sector are defined, according to the traditional Musgravian distinction, the causes of market failure are analyzed: in particular, the existence of public goods, externalities, monopoly and natural monopoly, asymmetric information. Then, the tax theory is considered in depth, including the main types of taxes, the ensuing economic effects and the distorsions created by the tax system. Finally, some insights are provided in the theory of fiscal federalism and the sustainability of public debt.
In the second part of the course three different topics are addressed. First, the structure of welfare expenditures, including health, pensions and education. Second, the evolution of fiscal federal reform in Italy is analyzed and, finally, the European constraints on the management of fiscal policy within the Monetary Union
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