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Prof. Daniela Federici

Contact information:

Term: Second semester

Overall Credits (ECTS): 9

Prerequisites: Successful completion of Economics

Language of Instruction: English

Class hours: 63



Cognitive / Knowledge skills

-         The student will master economic concepts that are useful for the analysis of the internationalization activities of firms and international corporate tax rules.

-         Analyse the modern multinational enterprise, its evolution and associate MNEs decisions with Where, When and How to invest.

-         Define the various ways MNEs are organised in response to their external environment and relate them with different structures of MNE networks of subsidiaries.

-         Students will deal with research questions chosen to enhance the students’ learning experience by building on the interdisciplinary perspectives they have developed so far. 

Analytical / Critical Thinking Skills (Oral & Written

-         To provide an answer to questions concerning (a subject) in the field covered by the course in the form of a clear and well-structured oral and written presentation.

-         Using up-to-date techniques in the case study presentation and to actively participate in a discussion following the presentation.

-         To be socio-communicative in collaborative situations.

-         To provide and receive constructive criticism, and incorporate justified criticism by revising one’s own position.

-         Adhere to agreed schedules and priorities.



Globalization has created new growth opportunities for companies by accessing resources and serving markets worldwide. This course focuses on the strategic and organizational challenges involved in managing activities across borders.

The course has a modular structure and is divided into two parts. The aim of the first part is to provide an in-depth understanding of the evolution of foreign direct investments and the multinational corporations. It will look at both theories concerning the existence and pattern of multinational firms and the relevant evidence. The second part is based on the concepts and principles of international capital taxation, the study of the effects of corporate taxation on multinational’s behavior, tax completion and tax coordination, the debate in Europe on the introduction of a common consolidated tax base for multinationals.

Topics to be covered include: Business across borders. The advantages and the disadvantages of the different modes of firm internationalization. Role of the multinational firms. Taxation and international capital allocation. Efficiency aspects of multinational taxation. The debate in Europe on capital taxation and perspectives of reform.



The class will meet for 2 hours three times a week, for 35 sessions. Classes will consist of a lecture by the instructor, to be followed by a discussion of the main topics.



All students are expected to spend at least 2,5 hours of time on academic studies outside of, and in addition to, each hour of class time.



The instructor will use differentiated forms of assessment to calculate the final grade you receive for this course. They are the following:

Class Participation: 10%

Group Case Study Presentation: 5%

Final Exam: 85%

The content, criteria and specific requirements for each assessment category will be explained in class. Any questions about the requirements should be discussed directly with your instructors well in advance of the due date for each assignment.



Class Participation:  This grade will be calculated to reflect your participation in class discussions, your capacity to introduce ideas and thoughts dealing with the texts, your ability use language effectively, and to present your analysis in intellectual, constructive argumentation. If you cannot attend classes your participation can be shown by interacting with your instructor during office hours.

Group Case Study Presentation: The class will be divided in teams (two students for each group) to work on particular cases assigned by the professor. Note that due to the continuity of the project, once the teams are established at the beginning of the semester, it will be very difficult to change them.

Final Exam: Your abilities will be tested in two important areas of competency: the amount of information you master and the accuracy of the information you present.

Structure: A combination of multiple choice questions (4); questions true or false (2); open questions (4). Prior to the examinations, a comprehensive review will be given during class.

The final exam will generally include an oral examination through which the instructor will assess the student ability to discuss the contents of the written exam.



 Professionalism and communications: As a student, you are expected to maintain a professional, respectful and conscientious manner in the classroom with your instructors and fellow peers.

Attendance and Classroom behavior: Although attendance is not compulsory, it is highly recommended. Arriving late or leaving class early is disruptive and shows a lack of respect for instructor and fellow students.

Make-up classes: The instructor reserves the right to schedule make-up classes in the event of an unforeseen or unavoidable schedule change. Make-up classes may be scheduled outside of typical class hours, as necessary. 

Missing Examinations: Examinations will not be rescheduled. Pre-arranged travel or anticipated absence does not constitute an emergency for missing exams.

Use of Cell Phones, Laptops and Other Electronic Devices: Inappropriate usage of your electronic devices will result in a warning. Use of a cell phone for phone calls, text messages, emails, or any other purposes during class is impolite, inappropriate. The use of a laptop, tablets or of cell phones is prohibited during all tests and exams, unless otherwise specified by your instructor.


Listed below are the required course textbooks and additional readings. These are required materials for the course and you are expected to have access to them from the very beginning of the course for reading, highlighting and note taking.

Required texts: 

For the first part

C.W. Hill, International Business: Competing in the Global Marketplace, McGrave-Hill, 9E, 2013.

Giorgio Barba Navaretti and Anthony J. Venables, Multinational Firms in the World Economy, Princeton University Press, 2004. Chaps: 3, 4, 5.

UNCTAD (2016), World Investment Report 2016 (Chs. 1 and 2)

For the second part

Jean Hindriks and Gareth Myles, Intermediate Public Economics, Chapter 20 (Fiscal competition), Chapter 21 (Issues in international taxation), 2013, MIT Press.

Peter Egger and Michael Stimmelmayr, Taxation of the Multinational Firm, CESIFO Working Paper N. 6384, 2017.

Note: These are introductory readings and further readings in connection with sub-topics will be communicated once the course begins.




[Ultima modifica: giovedì 18 marzo 2021]