PUBLIC FINANCE AND INTERNATIONAL MARKET
The aim of the course is to make students familiar with the fundamental characteristics of modern tax systems, with particular regard to the link between market integration and national tax policy choices. Particular importance will be given to the effects of international tax competition in terms of the applicability of the principles and criteria of traditional taxes.As ample space will also be given to the discussion of current public finance issues, the student will have to demonstrate the ability to critically assess the main issues related to tax policies as well as to be able to update continuously, by consulting the official documents related to public finance ( eg DEF, Draft Budgetary Plan)
Basic microeconomics and macroeconomics are required
The course content can be broken down into several lesson blocks, the duration of which depends on the level of preparation of the students and their familiarity with the basic economics concepts
I block (24 hours):
Understanding of the functions of the state budget and characteristics and financing of public expenditure. The study of public financial activity. First and second theorem of the welfare economy.
Text: Rosen, Gayer, chapters 1,2,3,8
II block (24 hours):
Theory of collective choices and the problem of income redistribution. Introduction to market failures.
Text: Rosen, Gayer, chapters 6 and 7
Block III (24 hours):
Public goods and externalities
Text: Rosen, Gayer, chapters 4 and 5
IV block (24 hours):
Introduction to the economy of taxes. The classification and the effects of taxes. Tax Translation and Incidence Theory
Text: Rosen, Gayer, Chapter 14
V block (24 hours):
tax efficiency; the tradeoff between equity and efficiency; personal taxes and individual behavior
Text: Rosen, Gayer, chapters 15, 16, 17
VI block (24 hours):
The Italian tax system. Taxes on corporations
Text: Rosen, Gayer, chapters 18 and 19
VII block (24 hours)
Text: Rosen, Gayer, Chapter 20
VIII and IX block (48 hours):
International capital taxation, international taxation of goods, digital transaction tax. Fundamental characteristics of tax competition and policy problems. The role of supranational organizations: OECD and EU.
Text: article Genschel and Schwartz
The teaching program concerns the main aspects (from the economic and institutional point of view) of modern tax systems with reference to the fundamental principles of tax collection and the main tax effects.
The course will comprise lectures per week. Furthermore, there will also be moments of seminar style on aspects related to current affairs in public finance through the discussion of official documents
1. Rosen, H.S., Gayer T. Public finance. Global edition. McGraw Hill,
2. Genschel, P. and Schwarz, P. (2011), "Tax competition: a literature review", Socio- Economic Review, 9, 339-370.
In order to assess the student learning, to test their critical thinking skills and to verify their communications abilities, the students will be required to make a written exam, with the responses to three questions selected from the topics explored during the course. For attending students, two elapsed tests are scheduled, one during the week foreseen in the university's teaching calendar, and another at the end of the course.Also for the elapsed tests the vote will be expressed in thirtieths and the final grade will be an average of the two tests.