Public economics workshop

A.A. 2019/2020
Crediti massimi
Ore totali
Obiettivi formativi
The aim of this workshop is to give students the opportunity to actively learn and discuss key topics in public economics and public policy within a seminar environment. The topic of the 2019-2020 edition of the workshop is Macroeconomic and fiscal policies in the European Union and in the European Monetary Union.
Risultati apprendimento attesi
Knowledge and understanding: By the end of the workshop, students will be equipped with analytical tools and knowledge for improving their understanding of real-world public economic policies. In the 2019-2020 edition, students will learn normative and positive issues regarding budget deficit and public debts (e.g., debt sustainability, tax smoothing, fiscal dominance, deficit bias); whether or not fiscal rules and fiscal councils are substitutable or complementary tools for enforcing fiscal policy discipline; how fiscal rules work in the EU and whether or not they should be reformed.
Making judgements: By the end of the workshop, students should know how to use economic analysis to make informed judgements about public economic policies.
Communication skills: Seminar presentations will enable students both to test their understanding and ability to communicate knowledge of the relevant topics, and to discuss in an academic environment real-world public economic issues. Essay writing will enable students to test their ability to communicate the theories and ideas presented in seminars and their policy implications. Students are not expected to develop original results, but to analyse and provide a balanced view of the possible policy options and recommendations.
Learning skills: Lectures, seminar presentations and essay writing will enable students to better their critical thinking on public economics, to help developing creative thinking on real-world public economic policies, to communicate knowledge to others, to collaborate in teams.
Programma e organizzazione didattica

Edizione unica

Terzo trimestre
The 2019-2020 edition of the Public Economics Workshop will focus on Macroeconomic and fiscal policies in the EU and the EMU. The format of the workshop will be as follows.
There will be introductory lectures on the following topics:
1. Budget deficit and public debt: preliminaries and key concepts; public debt sustainability.
2. Political economy of budget deficit and public debt: fiscal dominance, tax smoothing, deficit bias.
3. Fiscal rules and fiscal councils.
4. Fiscal governance in the EMU: hosting prof. Giuseppe Bognetti (Emeritus prof. in Scienza delle finanze, Università degli Studi di Milano).

The remaining of the workshop will consist of student presentations of selected papers taken from the related literature. Seminars will focus on one or more of the following topics:
1. Fiscal rules and fiscal councils: substitutes or complements?
2. Reforming fiscal rules in the EU and EMU.
3. Fiscal coordination or fiscal union?
4. Coordination of monetary and fiscal policies.
5. Risk sharing in the EMU.
Students are assumed to be familiar with basic knowledge of microeconomics and macroeconomics. Knowledge of the contents of the Public Economics or Scienza delle Finanze courses at the UG level is not compulsory, but it is strongly advised.
Metodi didattici
Lectures, student presentations, seminar discussion, essay writings.
Materiale di riferimento
A detailed reading list will be released at the start of the workshop (third term 2019-2020). Teaching materials (e.g. slides of meetings) will be uploaded on the ARIEL Public Economics website (see the dedicated link "Public Economics Workshop") as the workshop proceeds. The reading list will include the following:
- Beetsma, R. and Debrun, (eds). "Independent Fiscal Councils: Whatchdogs or Lapdogs?",, CEPR, January 2018.
-European Fiscal Board, Annual report 2019,….
-European Fiscal Board. Proceedings of the workshop "Indipendent fiscal institutions in the EU fiscal framework", 28th February 2019.
-Marimon, R. and Cooley, T. (eds.). "The EMU after the Euro Crisis: Lessons and Possibilities - Findings and proposals from the Horizon 2020 ADEMU project", May 2018:
- Pisani-Ferry, J. and Zettelmeyer, J. (eds). "Risk Sharing Plus Market Discipline: A New Paradigm for Euro Area Reform? A Debate",, CEPR, May 2019.
-Stiglitz, J.E. (ed). "Rewriting the rules of the European economy", 2019, FEPS.
-Ufficio Parlamentare di Bilancio (2019). "Una panoramica delle strategie di finanza pubblica nei Documenti programmatici di bilancio 2020 dei paesi dell'area dell'euro", Focus tematico n.8, dicembre.
Modalità di verifica dell’apprendimento e criteri di valutazione
The exam consists of two parts: a short seminar presentation and discussion of a paper taken from the suggested reading list. The same paper can be presented by a team composed of no more than three students. The seminar presentation will weight 50% of the final mark. An individually written essay (max 15 pages) on one of the seminar topics. The essay mark will weight 50% of the final mark.
Lezioni: 20 ore
Docente: Santoni Michele
Siti didattici
Prossimi ricevimenti: venerdì 10/7/20 e mercoledì 15/7/20 ore 14.30-17.30 online. Gli studenti possono inviarmi una email per essere ricontattati.