Public Finance LT Economics and Management 2021/2022


  • On the last lecture of the first module of the course, we will welcome Professor Massimo Bordignon as a guest speaker in the course. Professor Bordignon will deliver us a lecture on public debt, about which he has recently written a book (joint work with Prof. Gilberto Turati). 
    Massimo Bordignon is a full professor of Public Economics at the Catholic University. He is also a member of the European Fiscal Board at the EU Commission and a counselor on fiscal reforms for Italy’s PM Draghi. 
    I strongly recommend and encourage all of you to participate (phisically in the lecture hall if you can) to the lecture. The lecture will take place, as planned, from 11.30 AM to 1.30 PM in room C.210 (Via Carducci building). 
    Please also notice that the material covered by Prof. Bordignon will be part of the course material that will be asked in the exams. 
  • The mid-term exam for the course in Public Finance will take place on Tuesday May 17th at 2PM in room SA324 Manzi (building in Via Sant’Agnese No. 2). 
    Registration to the mid-term exam is mandatory. You can register yourself by sending an e-mail to no later than Saturday May 14th. 
    Participation is not compulsory but I highly recommend all of you to do your best in order to pass the first module of the course already in May.
    Rules that apply to the mid-term exam:
    – The mid-term exam will be written and will include both open questions and exercises. The student is expected to prove a good working knowledge of all the material covered in the first module of the course. 
    – Open questions might entail the illustration of a relevant economic model, its application to different scenarios and the illustration of its economic interpretation. 
    – Exercises will test the proficiency of the student in using the model to analyze positive and normative questions.
    – The midterm exam grade will be from 0 to 30. If the midterm grade is >=18, the student has the possibility to accept it. In this case, the midterm grade will account for 50% of the final grade while the other 50% will be assessed on the 2nd part part of the course material only. 
    – The midterm grade will be valid until the last Summer round of exams (i.e., until September 2022). A student who rejects the midterm grade, or receives a midterm grade <18, or not does not take the midterm exam will be graded on a final exam on the whole course program.

Plan of lectures

MON 11/04/202213:30 – 16:30Via Olona, 2OL.205 Sala Smeraldo
TUE 12/04/202213:30 – 16:30Via Carducci, 30C.013
WED 13/04/202211:30 – 13:30Via Carducci, 30C.210
TUE 26/04/202213:30 – 16:30Via Carducci, 30C.013
WED 27/04/202211:30 – 13:30Via Carducci, 30C.210
MON 02/05/202213:30 – 16:30Via Olona, 2OL.204 Sala Zaffiro
TUE 03/05/202213:30 – 16:30Via Carducci, 30C.013
WED 04/05/202211:30 – 13:30Via Carducci, 30C.210
MON 09/05/202213:30 – 16:30Via Carducci, 30C.110
TUE 10/05/202213:30 – 16:30Via Carducci, 30C.013
WED 11/05/202211:30 – 13:30Via Carducci, 30C.210


  1. Introduction to Public Finance
  2. Review of analytical tools
  3. Review of empirical tools
  4. Market failures I
  5. Market failures II
  6. Social choice
  7. Political economy
  8. Social mobility and social preferences (link to readings here)
  9. Introduction to pensions and healthcare
  10. Public debt (Prof. Massimo Bordignon)


Lecture 1 – April 11, 2022
Lecture 2- April 12, 2022
Lecture 3 – April 13, 2022
Lecture 4 – April 26, 2022
Lecture 5 – April 27, 2022
Lecture 6 – May 2, 2022
Lecture 7 – May 3, 2022
Lecture 8 – May 4, 2022
Lecture 9 – May 9, 2022
Lecture 10 – May 10, 2022
Lecture 11 – May 11, 2022 (Prof. Massimo Bordignon)


Problem set


17/05/2022 (Mid-term)14:00 – 16:30Via Sant’Agnese, 2SA.324 Manzi
23/06/202215:00 – 19:00
08/07/202215:00 – 19:00
02/09/202215:00 – 19:00

Office hours

Wednesday from 10 AM to 11 AM
Office in Via Necchi 5 building, second floor, room 205.
Book in advance via e-mail at