Inspired by the work of Italian underground comic book prodigy Andrea Pazienza, "Paz!" is a 24-hour slice of life of a group of university students sharing a flat in 1970s Bologna, grappling with drugs, classes, girls and half-hearted political activism.

Five young men wait for something at the end of their teenage towards maturity.

A middle-class Italian family is tore apart when the father meets an old flame, the mother—a frustrated onetime actress—auditions for a play, their insecure son tries to make friends through drugs, and their underaged daughter—who has already figured out how to use sex to her advantage—does what she does best to appear on TV.

Married for most of her adult life, Nina plunges into depression after being suddenly deserted by her husband. Eventually, she'll find a way out by having multiple affairs with strangers.

Bologna, 1976. The paths of two aimless young friends intertwine with those of Radio Alice, a pirate radio politically aligned with the leftist student movement.

Mimì reunites after many years with Caterina, with whom he has always been secretly in love. When her husband dies, Mimì decides to become part of her life.