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04722 - Public Economics ,,,

Academic Year 2026/2027

                
                        Docente:
                        Cristina Ugolini
                    
                        Credits:
                        6
                    
                        SSD:
                        ECON-03/A
                    
                        Language:
                        Italian
                    
                        Moduli:
                        
                            Cristina Ugolini
                            (Modulo 1)
                        
                            Marta Giachello
                            (Modulo 2)
                        
                        Teaching Mode:
                        
                                    In-person learning (entirely or partially) (Modulo 1); 
                                
                                    In-person learning (entirely or partially) (Modulo 2)
                                
                            Campus:
                            Forli
                        
                            Corso:
                            First cycle degree programme (L) in
                            Economics and business (cod. 9202)

                                        Course Timetable
                                    
from Sep 18, 2026 to Oct 09, 2026

                                        Course Timetable
                                    
from Nov 09, 2026 to Dec 14, 2026

Learning outcomes

The aim of the course is to critically assess the main motivations and the features of public policies for macroeconomic stabilisation, with a specific attention to the role of monetary and fiscal policy within the framework of the European Union. The course will also address the consequences of globalisation and the ongoing process of fiscal decentralisation in Italy. At the end of the course the student is able to: -understand the impact of public policies on the public budget and on the economy as a whole. -identify the main challenges faced by the Stabilty and Growth Pact in the EU -assess the features of fiscal federalism in Italy.

Course contents

The 2026/2027 course is divided into two parts. The first 15 hours will be taught by Cristina Ugolini during the first 5 weeks. The remaining 30 hours will be taught by Marta Giachello during the remaining 10 weeks. Due to the time division of the course, there will be no mid-term exams this year.

PART ONE: Deficit financing. Italian public debt: size and costs. Long-term debt sustainability (Bosi, appendices to Chapter 4).

PART TWO: The public sector as a resource allocation system. Introduction. The size of the public sector. Public finance in Italy. The State Budget and the Finance Act (Bosi, Chapter 2).

PART THREE: The limits of GDP and the evaluation of public policies. General concepts and introduction to the main methodologies used.

PART FOUR: European macroeconomic stabilization functions. The European Union. Monetary policy and fiscal policy in the EU. The European Central Bank. The Stability and Growth Pact. Criticisms of the Pact and its revision in March 2005 (Bosi, Chapter 6). The Fiscal Compact. The EU response to the pandemic.

PART FIVE: Fiscal decentralization and federalism. The advantages of decentralization. The theory of fiscal federalism. Determining the optimal size of local jurisdictions. The system of local authorities in Italy (Bosi, Chapter 5).

PART SIX: Public intervention. As an example of public intervention, one or two topics will be selected by the students and discussed in class. Topics covered in the past include health policies, migration policies, social assistance policies, social inequalities, and income distribution.

Readings/Bibliography

Bosi Paolo, Corso di scienza delle finanze, Il Mulino, 2023.

Slides and suggested readings on the VIRTUALE platform.

Teaching methods

Lectures and group works on specific topics, aimed at critically applying the tools offered by artificial intelligence to the analysis of issues relevant to public economics.