The course focuses on the role of the government in the economy. The aim is to provide an understanding of the reasons for government intervention in the economy, analyzing the benefits of possible government policies, and the response of economic agents to the government's actions.
In particular, the course reviews the key microeconomic theory behind the fundamental results in public economics and economics of market regulation. More precisely, the course will cover the topics of markets’ failure, the effects that regulation and antitrust policies exert on the firms activity, public choice. Also aspects on the fiscal systems and tax policy, social insurance, social welfare policy, redistribution programs and public goods will be covered; finally, special emphasis will be on social security reform such as pension reforms, the role of private pensions and retirement savings.
The course introduces the fundamental concepts of public economics. At the end of the course the acquired competencies and abilities will allow students to be familiar with the most relevant theories concerning the reasons and the effects of government intervention in the economy. The students will be also be introduced to the some of the issues that are on the political agenda of many developed countries, such as tax policy, welfare state and pensions and, at the core of the European Union debate, such as voting mechanisms and fiscal coordination.