Economics

In most developed countries, the public sector has become an enormous economic force, with a size that amounts to 40-60 percent of GDP. This course practices knowledge of macro- and microeconomics by applying it to public sector related issues by debating: which should be carried out by the public sector (e.g. the government) and which ones should be left to the private sector? When should the government intervene and what are the welfare consequences for different groups in society? Which commodities and services should the government provide and how much? Should this be provided in a market-efficient manner or not? How high should taxes and public debt be? What kind of taxes should the government levy (e.g. income, consumption or corporate income taxation) and who bears eventually the burden of these taxes? The course analyzes actual public policies and develops guidelines for government activities.
 

This course on public policy analysis uses case studies to link theoretical analysis of public economic concepts with actual public policy applications. Emphasis is placed on the evaluation public policy, with step-by-step critical analysis of relevant empirical papers. Topics covered include: empirical tools of public economics; environmental and health externalities; education; social, unemployment, and health insurance; income distribution and welfare programs. Prior course work in economic theory and basic knowledge of econometrics is required. Texts: GRUBER, J. Public Finance and Public Policy, 2nd edition, Worth Publishers, 2013. STIGLITZ, J. Economics of the Public Sector, 3rd edition, W.W. Norton and Company, 2000.

This course examines the various ways in which the multinational enterprises arrange their business activities around the world to pursue the highest profits after tax. The course introduces the basic principles of tax planning and the basic structure of international taxation. Topics include residence-based taxation, source-based taxation, tax treaties, thin capitalization rules, deductibility of expenses, controlled foreign corporation rules, rules regarding foreign trust and investment fund, and transfer pricing. Text: H. Gustafson et al., Taxation of International Transactions. Assessment: class participation (30%), midterm exam (35%), final exam (35%).

The course is an introduction to some of the major economic and development issues that international organizations deal with. It provides some key factual, methodological, and analytical elements that contribute to a better understanding and appreciation of the current work of international organizations and the underlying policy debates and motivations. Each lecture treats a specific topic that is part of the post-2015 Development Agenda adopted by the General Assembly of the United Nations (UN). Each lecture is organized in three parts, starting with a series of well-established stylized facts. These facts are then used to illustrate a crucial methodological and conceptual issue related to the topic treated. The last part of the lecture is dedicated to a deeper analysis that reflects ongoing policy debates.

This course is part of the Laurea Magistrale program in Economics. Enrollment is by consent of the instructor. The course is intended for students who have a strong background in economics. The course focuses on corporate and investment banking activity, with particular attention on venture capital and private equity financing. Topics covered include: investment banking, private equity, venture capital buyouts, structured finance, the venture capital cycle (fund-raising, screening and valuation, deal structuring, monitoring, divestment), financial tools needed to evaluate investments, and financing decisions in high-growth potential firms. Required Reading includes: OPTIONS, FUTURES, AND OTHER DERIVATIVES by J. Hull. Assessment in based on a written in class final exam. Students are offered the option of solving a case study and delivering the solution to the instructor as an additional optional assignment. Students are required to solve the case study as a group.