Bachelor of Business Administration (FIA)

Bachelor of Business Administration (Financial Investment Analysis)BBA (FIA)
Category I
DSC 1: FINANCIAL ACCOUNTING & ANALYSIS
Course Title Total Components Eligibility Prerequisite if any

Credits L T P Criteria/
Prerequisite
Financing 4 3 1 0 Class XII NIL

Accounting and Pass
Analysis
Course Objectives: To familiarize students with the mechanics of preparation of Financial

Statements; understanding Corporate Financial Statements in the light of IFRS or Indian
Accounting Standards, their analysis and interpretation; understanding of beyond Balance
Sheet indicators to project corporate performance; prediction of financial crisis of a business
enterprise.
Learning Outcomes: with this course the student will:

Understand the process of recording and classifying business transactions and events,
Creating and understanding Financial Statements of Sole Proprietor, viz., Profit & Loss
Account, Balance Sheet. Understand the financial statements of company as per IFRS/Ind-
AS. Analyse the Financial Statements from the perspective of different stakeholders using
horizontal and vertical analysis tools; and learning to use beyond balance sheet indicators for
analysing corporate performance. Understanding of financial distress or bankruptcy
prediction, introduction to earnings management
Course Contents:
Unit 1 (16 hours)

Introduction to Financial Accounting. Basic Concepts and Conventions: Business Entity,
Dual Aspect, Going Concern, Accounting Period, Money Measurement, Accrual, Disclosure,
Materiality, Consistency, and Conservatism. The Accounting Equation. Understanding
Assets, Liabilities, Revenues, and Expenses. Understanding Capital Expenditure, Revenue
Expenditure, Deferred Revenue Expenditure, Capital Receipts, and Revenue Receipts. Nature
of Accounts and Rules of Debit and Credit. Recording transactions in General Journal.
Preparation of Ledger Accounts. Opening and Closing Entries. Preparation of Trial Balance.
Unit 2 (16 hours)

Preparation of Financial Statements: Preparing Trading Account, Profit & Loss Account and
Balance Sheet for a Sole Proprietor. Format for preparing financial statements for IND-AS
companies as per Division II, Schedule III, Companies Act, 2013. Understanding of Financial
Statements of a Joint Stock Company as per new accounting standards: IND-AS (Balance
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sheet, Profit & Loss, Statement of Comprehensive Income, Cash Flow Statement);
Understanding the contents of a Corporate Annual Report (Actual latest annual reports to be
used).
Unit 3 (12 hours)

Global Accounting Standards/IFRS: Meaning & need for globalisation of accounting
standards, Adoption versus Convergence, Needfor convergence of Indian GAAP with IFRS;
Benefits of achieving Convergence with IFRSs to different stakeholders in India. Salient
features of Ind-AS/IFRS (Fair Value Accounting, Substance versus form, Time value of
money). Introduction to Indian Accounting Standards (Ind-AS); Understanding IND-AS 1:
Presentation of Financial Statements, IND-AS 7: Cash Flow Statement, IND-AS 109:

Financial Instruments.
Unit 4 (16 hours)

Analysing Financial Statements: Objectives of Financial Statement Analysis; Sources of
information; Standards of Comparison; Techniques of Financial Statement Analysis
(Through a case study of real company) - Ratio analysis, Cash flow analysis, Net working
capital analysis, Trend analysis. Use of ratios to predict financial crisis of a company by
using Altman Z –score. Use of Beyond the Balance Sheet indicators of analysing financial
position of a company. Introduction to Earnings Management.
Essential Readings: Latest editions of the following to be used:

1. Narayanaswamy R. Financial Accounting: A Managerial Perspective. PHI
LearningPrivate Limited, Delhi.
2. Robert N. Anthony, David F. Hawkins, Kenneth A. Merchant. Accounting- Text
andCases. McGraw Hill Education (India) Private Limited, New Delhi.
3. Garg CA Kamal, and Sehrawat Neeraj Kumar. Beginner`s Guide to Ind-AS &
IFRS.Bharat Law House Pvt. Ltd., New Delhi.
4. Maheshwari S.N., Maheshwari Suneel K., and Maheshwari Sharad K. An
Introduction to Accountancy. Vikas Publishing House Private Limited, Noida.
Additional Readings: Latest editions of the following to be used:

1. Lal Jawahar. Corporate Financial Reporting: Theory, Practice & Cases. Taxmann
Publications Private Limited.
2. Patricia M. Dechow, Richard G. Sloan and Amy P. Sweeney: Detecting Earning
Management, the Accounting Review. 70, No. 2 (Apr., 1995), pp. 193-225.
Teaching Learning Process:

Class room lectures, Case study discussion, Numerical problem solving, Class presentation
on the assigned topic by students - individually or in groups, Workshops and Tutorials.
Assessment
Total Marks: 100
Internal Assessment: 25 Marks
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End Semester University Exam: 75 Marks
The Internal Assessment of the course may include Class participation, Assignments, Class
tests, Projects, Field Work, Presentations, amongst others as decided by the faculty.
Key Words
Generally Accepted Accounting Principles, Financial Statements, Financial Ratios, IFRS,
Indian Accounting Standards.
DSC 2: MICROECONOMICS

Prerequisite
4 3 1 0 Class XII NIL

Microeconomics
Pass
Course Objectives: The purpose of this course is to apply micro economic concepts and
techniques in evaluating business decisions taken by firms. The emphasis is on explaining
how tools of standard price theory can be employed to formulate a decision problem, evaluate
alternative courses of action and finally choose among alternatives.
Learning Outcomes:
• Explain the mechanics of supply and demand in allocating goods and services
andresources.
• Understand the choices made by a rational consumer.
• Identify relationships between production and costs.
• Define key characteristics and consequences of different forms of markets.
Course Contents:
Unit 1 (12 hours)

Individual demand, market demand, individual supply, market supply, market equilibrium;
Elasticities of demand and supply; Price elasticity of demand, income elasticity of demand,
cross price elasticity of demand, elasticity of supply.
Unit 2 (16 hours)

Cardinal utility theory; ordinal utility theory: in difference curves, budget line, consumer
choice, price effect, substitution effect , income effect for normal, inferior and giffen goods.
Unit 3 (16 hours)

Optimizing behaviour in short run: product curves, law of diminishing margin productivity,
stages of production; optimizing behaviour in long run: isoquants, isocost line, optimal
combination of resources; traditional theory of cost: short run and long run; modern theory of
cost.
Unit 4 (16 hours)

Perfect competition: basic features, short run equilibrium of firm/industry, long run
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equilibrium of firm/industry, monopoly: basic features, short run equilibrium, long run
equilibrium, comparison with perfect competition, welfare cost of monopoly; price
discrimination; monopolistic competition: basic features, demand and cost, short run
equilibrium, long run equilibrium, excess capacity; oligopoly kinked demand curve model,
dominant price leadership model.
Essential Readings:
1. Dominick Salvatore (2009): Principles of Microeconomics (5th edition), Oxford
University Press.
2. Pindyck, Rubinfeld and Mehta (2009): Micro Economics (7th Edition), Pearson.
Additional Readings:
Lipsey and Chrystal (2008): Economics (11thedition), Oxford University. Please Note: Latest
edition of the readings to be used.

Lectures, problems and numerical, term paper, presentations, case studies
Assessment
Total Marks: 100
Key Words
Equilibrium, Rationality, Utility Maximization, Profit Maximization, Market Form.
DSC 3: STATISTICS FOR BUSINESS DECISIONS

Prerequisite
Statistics for 4 3 1 0 Class XII NIL

Business Decisions Pass
Course Objectives: To familiarize the students with various Statistical Data Analysis tools
that can be used for effective decision making. Emphasis will be on the application of the
concepts learnt to various financial and managerial situations.
Learning outcomes: After the end of the course, students should be able to
 Summarize data sets using Descriptive statistics.
 Analyze the relationship between two variables of various managerial situations.
 Geometrically Interpret Correlation and Regression.
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 Develop managerial decision problems using Probability Density Functions and
Cumulative Density Functions.
Critical thinking and problem solving: The course will help students understand the
characteristics of Analytical thinking that rests on Statistical Methods and Data Analysis
approaches.
Course Contents:
Unit 1: Data and its Descriptive Analysis (12 hours)
Quantitative and Qualitative Data, Attributes and variables, Scales of measurement: nominal,
ordinal, interval and ratio, Measures of Central Value: Mean, Median, Mode, Measures of
Dispersion: Absolute and Relative measures of dispersion – Range, Quartile Deviation, Mean
Deviation, Standard Deviation, Moments, Skewness, Kurtosis. Visualization of Data:
Histograms, Stem and Leaf Plots, Five Number Summary and Box Plots. Introduction to Big
Data: Characteristics and Stages.
Unit 2: Correlation and Regression Analysis (16 hours)
Correlation Analysis: Meaning and significance. Correlation and Causation, Types of
Correlation, Methods of studying Simple correlation – Scatter diagram, Karl Pearson’s
coefficient of correlation, Spearman’s Rank correlation coefficient.
Regression Analysis: Meaning and significance, Regression vs. Correlation, Simple
Regression model: Linear Regression, R-square and MSE in Regression, Geometric
Interpretation of Regression.
Unit 3: Random Variable Analysis (16 hours)
Probability: Meaning and need, Conditional probability, Bayes’ theorem, Random Variable-
discrete and continuous. Probability Distribution: Meaning, characteristics (Expectation and
variance) of Binomial, Poisson, Exponential and Normal distribution, z-score, Chebyshev and
empirical rule, Central limit theorem.
Unit 4: Introduction to Estimation and Hypothesis Testing (16 hours)
Estimation: Point and Interval estimation of population mean, Confidence intervals for the
parameters of a normal distribution (one sample only), Hypothesis Testing: Null and
Alternate Hypothesis, One Tail and Two tail tests, Level of Significance, Type I and Type II
error, Test of hypothesis concerning Mean: z-test & t-test.
Essential Readings:
1. Gupta, S.P., Statistical Methods, Sultan Chand & Sons.
2. Levine, D., Stephan, D.,& Szabat, K., Statistics for Managers using MS Excel, Pearson
India.
3. Miller, I., & Miller, M., John E. Freund’s Mathematical Statistics with Applications,
Pearson India.
Suggested Readings:
1. Keller, G., Statistics for Management and Economics, Cengage Learning, New Delhi.
2. Stine, R. and Foster, D., Statistics for Business (Decision making and Analysis). Pearson
India.
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3. Levin, R. and Rubin, D., Statistics for Management, Pearson India.
4. Evans, J., Business Analytics, Pearson India.
Recommendation:
The students are encouraged to solve real life case studies using Spreadsheet.

Class room lectures, Case study discussion, Numerical problem solving, Class presentation
on the assigned topic by students - individually or in groups, Workshops and Tutorials.
Assessment
Total Marks: 100
Key Words
Descriptive Statistics, Inferential Statistics, Central Tendency, Measures of Dispersion,
Correlation, Regression, Random Variable, Probability Distribution, Testing of Hypothesis.
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GENERIC ELECTIVE (GE) COURSES
Category-IV
GE1: FUNDAMENTALS OF FINANCIAL MANAGEMENT
Course Title Total Components Eligibility Prerequisite if any Department offering

Credits L T P Criteria the course
Fundamentals 4 3 1 0 Class XII NIL Finance and

of Financial Pass Business Economics
Management
Course Objectives: To provide an understanding of the essential elements of the financial

environment in which the business firm operates. To acquaint students with the techniques of
financial management and their applications for business decision making.
Learning Outcome: At the end of this course, students will be equipped with the basic
concepts of financial management. Students would understand how to coordinate various
decisions to maximise wealth of an organisation in today`s financial environment. Students
will be equipped to arrive at strategic corporate finance decisions with the required accuracy
which will be aided by using various excel functions.
Course Contents:
Unit 1 (12 hours)

Nature of Financial Management: Finance and related disciplines; Scope of Financial
Management; Functions of finance – Finance Decision, Investment Decision, Dividend
Decision; Objectives of Financial Management; Organisation of finance function; Concept of
Time Value of Money – present value, future value, annuity.
Unit 2 (20 hours)

Strategic Investment Decisions: Capital Budgeting -; Nature and meaning of capital
budgeting; Principles and Process; Estimation of relevant cash flows and terminal value;
Evaluation techniques– Payback period, Accounting Rate of Return, Net Present Value,
Internal Rate of Return, Net Terminal Value, Profitability Index Method.
Cost of Capital: Meaning and concept, Measurement of cost of capital – Cost of debt, Cost of
Equity Share; Cost of Preference Share; Cost of Retained Earning; Computation of over-all
cost of capital based on Historical and Market weights (WACC).
Unit 3 (16 hours)

Strategic Financing Decisions - Capital Structure, Theories and Value of the firm – Net
Income approach, Net Operating Income approach, Traditional approach, Modigliani Miller
(MM) model. Leverage analysis and EBIT-EPS Analysis: Concept of leverage, Types of
leverage: Operating leverage, Financial leverage, Combined leverage; EBIT-EPS Analysis.
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Guidelines for capital structure planning, Link between capital structure and capital
budgeting. Dividend Decisions: Factors determining dividend policy, Theories of dividend-
Gordon model, Walter model, MM Hypothesis. Dividend policies in practice.
Unit 4 (12 hours)

Working Capital Management: Determination of Working Capital. Determining financing
mix of working capital. Receivables Management – Objectives; Credit Policy, Cash
Discount, Debtors Outstanding and Ageing Analysis; Costs – Collection Cost, Capital Cost,
Default Cost, Delinquency Cost. Management of Cash (Theory only) – Need for Cash, Cash
Management Techniques (Lock box, Concentration Banking). Inventory Management
(Theory only) – ABC Analysis; Minimum Level; Maximum Level; Reorder Level; Safety
Stock; EOQ (Basic Model).
Essential Readings:
1. Berk and DeMarzo, 5th ed., Pearson - Prentice Hall.
2. Horne, James C V. and John M. Wachowicz, Jr. “Fundamentals of Financial
Management.13th ed; FT Prentice Hall, Pearson Education.
3. Pandey, I.M. Financial Management, Pearson.
1. Khan, M.Y. & Jain, P.K. Financial Management Text Problem and Cases, Tata
McGrawHill Publishing Co. Ltd.
2. Brealey, R. R., Myers. S., Allen, F., & Mohanty, P.. Principles of Corporate Finance.
NewDelhi: Tata Mc-Graw Hill.
Teaching – Learning Process:

The teaching-learning process for this paper would include classroom lectures and tutorials;
Case study discussions; class presentations; Workshops.
Assessment
Total Marks: 100
The Internal Assessment for the course may include Class participation, Assignments, Class
Key Words
Finance, Capital Budgeting, Wealth Maximisation, Cost of Capital, Dividends, Leverage,
Working Capital Management.
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GE 3: FUNDAMENTALS OF STOCK TRADING

Fundamentals of 4 3 1 0 Class XII NIL Finance and

Stock Pass Business Economics
Trading
Course Objectives: To familiarize students with the essential concepts and skills needed to
be able to appropriately choose securities and operate in Stock markets.
Learning Outcomes: On successful completion of his course, the students will be able to:
 Understand the fundamentals of investments and the investment environment.
 Able to compare and evaluate different investment opportunities.
 Comprehend the structure and composition of Indian Securities market.
 Learn the mechanism involved in online stock trading.
 Grasps the concepts associated with investing in Mutual funds.
Course Contents
Unit 1: Basics of Investment & Investment Environment (12 hours)
Fundamentals of Investment, Features of Investment, Investment Environment. Principles of
sound Investment. The Investment Decision Process. Modes of Investment – Direct Investing
and Indirect Investing, Approaches to Investing – Active Investing and Passive Investing.
Risk Return Trade Off. Types of Securities – Equity Shares, Bonds and Debentures, and
Government Securities. Alternative Investments (Briefly) – Mutual Funds, Derivatives, Unit
Linked Insurance Policy (ULIP), Exchange-traded funds (ETFs), Collective Investment
Schemes (CIS), Real Estate Investment Trusts (REITs). Criteria for Evaluation of Investment
Alternatives.
Unit 2: Indian Securities Market (16 hours)

Securities Market – Capital Market and Money Market, Difference between Capital and
Money Market, Primary and Secondary Market, Difference between Primary and Secondary
Market. Over the Counter (OTC) and Exchange Traded market. Modes of offering Equity
Shares – Initial Public Offering (IPO), Follow-on Public Offering (FPO), Difference between
IPO and FPO, Difference between Offer for sale (OFS) and Public offer (IPO/FPO). Methods
of IPO Pricing – Fixed Price Method and Book Building Method, The Book Building
Process, Fixed Price method v/s Book building Method. Market Participants – Issuer of
Securities, Investors, and Intermediaries. Role of Stock Exchange. Stock Exchanges in India.
Securities (Stock) Indices – Broad Market Indices, Sectoral Indices and Thematic Indices.
Unit 3: Online Security Trading (16 hours)
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Trading Mechanism on Exchanges, Trading and Settlement at NSE – National Securities
Clearing Corporation Limited (NSCCL), Clearing Mechanism, Clearing & Settlement
(Equities).
Online Trading – Introduction, Online Trading Mechanism. Online Real Time Price
Quotations – Bid Price, Ask Price, Bid-Ask Spread, Tick Size, LTP, ATP. Circuit Breakers –
Upper Circuit, Lower Circuit, NSE rules regarding Circuit Breaks. Price Bands, Rules
regarding Price Bands on NSE. Electronic Order Book. Types of Orders – Market Order,
Limit Order, Stop Loss Order, Stop Loss (Limit) Order, Stop Loss (Market) Order, After
Market Order (AMO). Order Conditions – Price related conditions, Time related conditions,
Quantity related conditions. Placing an Order, View/Modify/Cancel an Order.
Unit 4: Investing in Mutual Funds (16 hours)

Concept of Mutual Funds, Mutual Funds are an Indirect Mode of Investment, Evolution of
Mutual Funds in India, Structure of Mutual Funds (Sponsor, Board of Trustees, AMC and
Custodian). Advantages of Investing in Mutual Funds, Limitations of Investing in Mutual
Funds. Types of Mutual Fund Schemes – Open ended, Close ended, and Interval funds;
Domestic Funds and Off-Shore funds; Growth funds, Income funds and Balanced funds;
Equity Fund schemes, Debt fund schemes, Gilt Funds, Money Market Funds, Tax Saving or
Equity Linked Savings Scheme (ELSS), Index schemes, Sectoral Funds, Ethical Funds, Load
and No-Load Fund, Fund of Funds, Systematic Investment Plans (SIP), Systematic
Withdrawal Plans (SWP), Systematic Transfer Plans (STP), and Exchange Traded Funds. Net
Asset Value, Cost incurred and Return from Mutual funds, Types of Loads. Performance
Evaluation of Mutual Funds. Factors affecting choice of Mutual funds. Mutual funds in India.
CRISIL and their Rankings for mutual funds – Ranking Methodology and Usage of Mutual
Fund Rankings.
Essential Readings:
1. Tripathi, Vanita and Panwar, Neeti: Investing in Stock Markets. Taxmann Publications.
2. Chandra, Prasanna: Investment Analysis and Portfolio Management. McGraw Hill
Education.
1. Rustagi, R.P., Investment Management. Sultan Chand Publications.
2. Tripathi, Vanita: Security Analysis and Portfolio Management. Taxmann Publications.

Class room lecture, Numerical Problem solving, Case study discussion, Class presentation on
the assigned topic by students individually or in group, Workshop, Tutorials, Role play.
Assessment
Total Marks: 100
Page 22
Key Words
Investments, Indian Securities Market, Initial Public Offer (IPO), Online Security Trading,
and Investing in Mutual Funds.
GE5: ESSENTIALS OF FINANCIAL INVESTMENTS

Essentials of 4 3 1 0 Class XII NIL Finance and

Financial Pass Business Economics
Investments
Course Objectives: To familiarize students with the essential concepts and fundamentals of
financial investments. The course will enable them to understand and make informed choice
about thevarious available financial investment alternatives.
 Understand the fundamentals of financial investments and the investment decision
process.
 Able to compute various measures of risk and return, and understand their role
forevaluating investments.
 Understand and carry out security analysis using different approaches.
 Learn basic approaches to valuation of securities and carry out portfolio analysis.
Course Contents
Unit 1: Investments – An Overview (12 hours)

Concept of Investment, Financial Investment Vs. Real Investment, Investment Vs
Speculation, Objectives or Features of Investment, Risk Return Trade Off, Investment
Environment – Overview of Securities Market and Different Types of Financial Investment.
Investment Decision Process, Direct Investing Vs Indirect Investing, Approaches to Investing
– Active Vs Passive. Diversification, Hedging and Arbitrage.
Unit 2: Risk – Return Analysis (16 hours)

Concepts of Return and Risk, Types of Return - their Calculation & Utility: Absolute Return,
Average Return, Expected Return, Portfolio Return, Holding Period Return, Effective
Annualized Return, Risk-Adjusted Return. Causes (or Sources) and Types of Risk –
Systematic and Unsystematic Risk, Components of Systematic and Unsystematic Risk,
Calculation of Total, Systematic and Unsystematic Risk. Impact of Taxes and Inflation on
Investment – Computation of Post Tax and Real Returns.
Unit 3: Security Analysis (16 hours)
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Approaches to Security Analysis – Fundamental Analysis, Technical Analysis, and Efficient
Market Hypothesis (EMH). Fundamental Analysis – EIC Framework, Economic Analysis,
Industry Analysis, and Company Analysis. Technical Analysis – Basic Tenets of Technical
Analysis, Tool of Technical Analysis – Charts, and Technical Indicators, Limitations of
Technical Analysis. Difference between Fundamental Analysis and Technical Analysis.
Efficient Market Theory (EMH) – Concept, Forms of Market Efficiency, Weak Form
Hypothesis, Semi Strong Form, and Strong Form of Market Efficiency. Implications of EMH.
Unit 4: Fundamentals of Valuation and Portfolio Analysis (16 hours)

Valuation of Equity Shares – Peculiar features of Equity Shares, Dividend Discount Model,
Earning Multiplier or Price-Earnings (P/E) Model, and Capital Asset Pricing Model (CAPM).
Valuation of Fixed Income Securities – Bond Fundamentals, Types of Bonds, Bond
Valuation. Portfolio Analysis – Portfolio Management Process, Portfolio Analysis –
Markowitz Model, Portfolio Risk, Portfolio Return.
Essential Readings:
2. Chandra, Prasanna: Investment Analysis and Portfolio Management. McGraw Hill
Education.
2. Reilly, F. K. & Brown, K.C. Analysis of Investments and Management of Portfolios,
Cengage India Pvt. Ltd.

Assessment
Total Marks: 100
Key Words
Financial Investment, Risk and Return, Fundamental Analysis, Technical Analysis, Efficient
Market Hypothesis, Portfolio Analysis, Valuation of Securities.
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GE7: EMERGING BANKING AND FINANCIAL SERVICES

Emerging 4 3 1 0 Class XII NIL Finance and

Banking and Pass Business Economics
Financial
Services
Course Objective: The objective of this paper is to familiarize students with banking
reforms in the last decade, concept of neo banks, rising issue of non-performing asset and its
impact on day-to-day functioning. They will learn about financial services such as Leasing,
Hire Purchase, Credit Rating, Securitization and Venture Capital Financing.
 Understand the relevance of financial reforms introduced in Indian banking sector.
 Understand the rising problem of non-performing assets in Indian banking sector.
 Learn the importance of neo banks and M&A in Indian banking sector.
 Understand the various financial services available in India along with the latest
innovations andtechnological integration in the field of finance.
Course Contents:
Unit 1 (16 hours)

An overview of the Indian Banking system; Major Banking Reforms in the last decade:
Payment banks, Monetary Policy Committee, MCLR Based Lending, Innovative Remittance
Services; Issues in financial reforms and restructuring; Future agenda of reforms: Assessing
Non- Performing Assets in Indian Banking, Previous methodologies for recovery, Impact of
Gross NPAs on a bank’s bottom line – burning need for bad banks, Functioning of Bad Banks,
Government backingfor bad banks - National Asset Reconstruction Company Ltd. (NARCL).
Unit 2 (16 hours)

Introduction to neobanks, Functions of neobanks, Operating Model of neobanks, Regulatory
requirements for setting up and running neobanks, Emerging need for neobanks, neo banks vs
traditional banks. Merger & Acquisition: Introduction, Benefits of mergers, Synergies
accruing out ofmergers, Regulatory mechanisms surrounding M&A in banking, Case-studies
of recent banking mergers and related outcomes.
Unit 3 (20 hours)

Leasing and Hire Purchase: Concepts of leasing, types of leasing – financial & operating
lease, direct lease and sales & lease back, advantages and limitations of leasing, Lease rental
determination; Finance lease evaluation problems Lessee’s angle (PV and IRR methods) and
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Lessor’s perspective, Hire Purchase interest &Instalment, difference between Hire Purchase
& Leasing, Choice criteria between Leasing and Hire Purchase, mathematics of HP.
Unit 4 (12 hours)

Venture Capital: Concept, history and evolution of VC, the venture investment process,
various steps in venture financing, incubation financing. Credit Ratings: Introduction, types
of credit rating, advantages and disadvantages of credit ratings, Credit rating agencies and
their methodology, International credit rating practices. Securitization: Concept and Process,
Credit Enhancement parties to a Securitization Transaction, Instruments of Securitization,
Types of Securities, Securitization in India.
Essential Readings:
1. Pathak, B. Indian Financial System (4th ed). Pearson Publication.
2. Khan, M. Y. (2013). Financial services. New Delhi: McGraw Hill Education.
3. Machiraju, H. R. (2002). Indian financial system. New Delhi, Vikas Publication House.
1. Verma, J. C. (1996). Bharat’s manual of merchant banking: Concept, practices and
procedures with SEBI clarifications, guidelines, rules and regulations. New Delhi: Bharat
Law House.
2. K. Sriram: Hand Book of Leasing, Hire Purchase & Factoring, ICFAI, Hyderabad.
3. Ennew. C. Trevor Watkins & Mike Wright: Marketing of Financial Services,
Heinemann Professional.

Class room lecture, Numerical Problem solving, Case study discussion, Class
presentation on the assigned topic by students individually or in group, Workshop, Tutorials,
Role play.
Assessment
Total Marks: 100
Key Words
Banking, Merger and Acquisition, Neo banks, NPA, Leasing, Hire Purchase, Credit
Ratings,Securitization, Venture Capital.
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GE9: ECONOMIC LEGISLATION
Course Title Total Components Eligibility Prerequisite if Department offering

Credits L T P Criteria any the course
Economic 4 3 1 0 Class XII NIL Finance and

Legislation Pass Business
Economics
Course Objective(s): It focuses on laws related to competition in Indian business and trade
environment. The course relies predominantly on Insolvency and bankruptcy code, money
laundering and foreign exchange management laws.
Learning Outcomes:
• Recognise the economic issues in a legal problem and apply the economic way of
thinking to analyse it.
• Assess the efficiency effects of legal rules and policies.
• Practice case analyses and evaluation of corporate conduct.
Course Contents:
Unit 1: Competition Act and Fugitive Economic Offenders Act (20 hours)
The Competition Act, 2002: Introduction, Prohibition of certain agreements, abuse of
dominant position and regulation of combinations, Competition Commission of India, Duties,
Powers and Functions of Commission, Penalties, Appellate Tribunal.
The Fugitive Economic Offenders Act: Scope and applicability of Act, Confiscation of
property, Powers of Directors, Power of Survey, Search and Seizure, notice, procedure for
hearing application, Declaration of Fugitive Economic Offender, Power to disallow civil
claims, Management of properties confiscated under this Act, Rules of evidence, Appeals.
Unit 2: The Insolvency and Bankruptcy Code (12 hours)
The Insolvency and Bankruptcy Code, 2016: Introduction of Insolvency and bankruptcy
code, Corporate Insolvency Resolution Process, Liquidation Process, Fast Track Insolvency
Resolution for Corporate Persons, Voluntary Liquidation of Corporate Persons, Adjudicating
Authority for Corporate Persons, Offences and Penalties, Insolvency resolution and
bankruptcy for individuals and partnership firms, Regulation of Insolvency professionals,
agencies and information utilities.
Unit 3: The Prevention of Money Laundering Act (16 hours)
The prevention of money laundering Act, 2002: Introduction and definitions, Punishment for
the offence of Money Laundering, Attachment, Adjudication and Confiscation, Obligation of
Banking Companies, Financial Institutions and Intermediaries, Summons, Searches And
Seizures, Appellate Tribunal and Special Courts, Recovery of fine or penalty.
Unit 4: The Foreign Exchange Management Act (12 hours)

The Foreign Exchange Management Act, 1999: Introduction of FEMA, Difference between
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FERA and FEMA, Application and Commencement of FEMA, Regulation and Management
of Foreign Exchange, Authorised Person, Contraventions and Penalties, Compounding of
Offences, Adjudication and Appeal, Directorate of Enforcement.
Essential Readings:
1. Maheshwari & Maheshwari, Principle of Mercantile Law, National Publishing Trust.
2. Aggarwal Rohini, Mercantile & Commercial Law, Taxmann
3. Kucchal M. C., Mercantile Law, Vikas Publishing House (P) Ltd.
4. Kapoor N. D., Elements of Mercantile Law, Sultan Chand,

Lecture, Discussion, Power Point Presentations. Course contents shall be discussed in the
light of relevant case laws.
Assessment
Total Marks: 100
Key Words
CCI, Prevention of Money Laundering, Insolvency and Bankruptcy Code, FEMA, Fugitive
Economic Offenders Act.
Page 28
Category I
Bachelor of Business Administration (Financial Investment Analysis) [BBA (FIA)]
(Provide the details of the Discipline Specific Coursesoffered by your department for the UG
Programme with your disciplineas the Single Core Discipline)
DISCIPLINE SPECIFIC CORE COURSE – 4 (DSC-4):

COST & MANAGEMENT ACCOUNTING
CREDIT DISTRIBUTION, ELIGIBILITY AND PRE-REQUISITES OF THE COURSE

Course title Credits Credit distribution of the course Eligibility Pre-requisite
& Code Lecture Tutorial Practical/ criteria of the course
Practice (if any)
Cost & 4 3 1 0 Class XII Nil
Management Pass
Accounting
(DSC-4)
Learning Objectives
The Learning Objectives of this course are as follows:
• The rapidly changing business environment requires managers to make informed decisions.
• This paper will equip the students with cost and management accounting concepts, techniques and
practices which will help them in planning and controlling business operations and management
decision making.
Learning Outcomes
The Learning Outcomes of this course are as follows:
• Understand and distinguish various types of costs in manufacturing and service organizations.
• Determine the costs of products and services.
• Identify relevant costs for decision making and undertake different analysis of various types of
decisions.
• Prepare budgets and analyse variances from standard cost to identify areas in need of control.
SYLLABUS OF DSC-4
Unit 1: Nature, Scope of Management Accounting (12 Hours)

Meaning, nature and scope of Cost Accounting and Management Accounting; Comparison between
Cost Accounting & Management Accounting; Cost Control, Cost Reduction& Cost Management,
Components of Total Cost & Preparation of Cost Sheet. Cost Ascertainment: Cost Unit and Cost
Center. Overheads: Meaning, Cost Drivers, Accumulation, Allocation, Apportionment and
Absorption.
28
Classification of Costs: Fixed, Variable, Mixed Cost; Product, and Period Costs; Direct and Indirect
Costs; Relevant and Irrelevant Costs; Shut-down and Sunk Costs; Controllable, and Uncontrollable
Costs; Avoidable, and Unavoidable Costs; Imputed / Hypothetical/Implicit Costs and Out-of-pocket
Costs; Opportunity Costs; Expired, and Unexpired Costs.
Unit 2: Cost-Volume-Profit Analysis (12 Hours)

Absorption Costing and Marginal costing, Contribution. Profit Volume Ratio, Break-even Analysis:
Break-even Point, Composite Break-even Point, Cash Break-even Point, Margin of safety. Angle of
Incidence.
Relevant Costs and Decision Making such as: Key Factor, Pricing, Product Profitability, Dropping a
product line, Make or Buy, Export Order, Shut down vs. Continue operations.
Unit 3: Budgets and Budgetary Control (9 Hours)

Meaning, Steps in Budgetary Control, Types of Budgets: Sales budget, Production Budget, Raw
material consumption Budget, Raw Material Purchase Budget, Overhead Budgets, Cash Budget, and
Master Budget. Fixed and Flexible Budgets, Zero based budgeting.
Unit 4: Standard Costing and Variance Analysis (9 Hours)

Meaning of Standard Cost and Standard Costing, Advantages, Limitations and Applications; Material
Cost Variance, Price and Usage Variance and Mix and yield Variance; Labor Cost Variance, Rate and
Usage Variance, Idle time, Mix and Yield variance.
Unit 5: Contemporary Issues in Cost Accounting and Management Accounting (3 hours)

Introduction to the concept of Target Costing, Life Cycle Costing, Quality Costing, and Activity based
Costing.
Practical component (if any) - NIL
Essential/Recommended Readings: Latest editions of the following to be used:

1.Horngren's Cost Accounting: A Managerial Emphasis. Pearson.
2. Arora, M.N. (2016) A Textbook of Cost and Management Accounting. Vikas Publishing House Pvt.
Ltd.
3. Maheshwari, S.N. and Mittal, S.N. (2016) Cost Accounting: Theory and Problems. Shree Mahavir
Book Depot.
Suggested Readings: Latest editions of the following to be used:

1. Arora, M.N. & Katyal Priyanka, Management Accounting: Theory, Problems & Solutions, Himalaya
Publishing House
2. Lal, Jawahar. Advanced Management Accounting: Text, Problems & Cases, Sultan Chand &
Company Ltd.
Note: Latest edition of the readings may be used.

Note: Examination scheme and mode shall be as prescribed by the Examination Branch, University
of Delhi, from time to time.
29
DISCIPLINE SPECIFIC CORE COURSE – 5 (DSC-5): MACROECONOMICS
Credit distribution, Eligibility and Prerequisites of the Course
Course title & Code Credits Credit distribution of the EligibilityPre-
course criteria requisite
Lecture Tutorial Practical/ of the
Practice course
(if any)
MACROECONOMICS 4 3 1 0 Class XII Nil
(DSC-5) Pass
Learning Objectives
• This course deals with the principles of Macroeconomics.
• The coverage includes determination of and linkages between major economic variables, level of
output and prices, inflation, interest rates and exchange rates.
• The course is designed to study the impact of monetary and fiscal policy on the aggregate behaviour
of individuals.
Learning Outcomes
• Understand the determination of key macroeconomic variables.
• Describe models of determination of equilibrium outputs, prices and rate of interest.
• Analyse the role of the Government in an economy and examine how it uses its fiscal and
monetary policy to influence macro-economic variables.
• Explain the working of an open economy.
SYLLABUS OF DSC –5
Unit 1: Introduction to Macroeconomics and National Income Accounting (6 Hours)
Origin of macroeconomics; Income, expenditure and the circular flow in three and four
sectoral economies; real versus nominal GDP; price indices; measurements of gross
domestic product; national income accounting for open economy; National Income Identity.
Unit 2: Theory of Income Determination and Interest Rate (18 Hours)

Classical theory of income and employment and Simple Keynesian Theory of Income Determination,
changes in equilibrium, Paradox of Thrift and Investment multiplier.
30
Quantity Theory of Money–Cambridge version, Classical theory of interest rate and Keynesian
Theory of Liquidity Preference and interest rate, Liquidity Trap; Credit Creation and Money
Multiplier
Goods market and money market, graphical derivations of the Hicks-Henson model (IS and LM
functions); Properties of IS-LM curves, factors affecting the position and slope of IS-LM curves,
determination of equilibrium income and interest rates; Studying the impact of fiscal and monetary
policies using IS-LM framework.
Unit 3: Inflation (9 Hours)

Inflation: meaning; demand and supply side factors; natural rate theory; monetary policy-output
and inflation (monetarist view); Phillips curve: short run and long run.
Unit 4: Balance of Payment and International Trade (12 Hours)

Brief introduction to Balance of Payment (BOP) account; market for foreign exchange and exchange
rate; monetary and fiscal policy in open economy; Mundell Fleming model: perfect capital mobility
and imperfect capital mobility under fixed and flexible exchange rate.
Essential/Recommended Readings
1. Froyen, R. P. (2011): Macroeconomics-theories and policies (8th Edition). Pearson.
2. Dornbusch and Fischer (2010): Macro economics (9th Edition).Tata McGraw Hill.
3. N Gregory Mankiw (2010). Macro economics (7th Edition).Worth Publishers
Note: Examination scheme and mode shall be as prescribed by the Examination

Branch, University of Delhi, from time to time.
31
DISCIPLINE SPECIFIC CORE COURSE– 6 (DSC-6): QUANTITATIVE
TECHNIQUES
Credit distribution, Eligibility and Pre-requisites of the Course
Course title & Credits Credit distribution of the Eligibility Pre-requisite of

Code course criteria the course(if
Lecture Tutorial Practical/ any)
Practice
QUANTITATIVE 4 3 1 0 Class XII Nil
TECHNIQUES Pass
(DSC-6)
Learning Objectives
• To apprise students with the construction of mathematical models for managerial decision situations
and to use spreadsheets or computer software packages to obtain a solution wherever applicable.
• The emphasis is on understanding the concepts, formulation and interpretation.
Learning Outcomes: After the end of the course, students should be able to
• Identify, formulate and solve Linear Programming Problems graphically, mathematically and by
using excel solver.
• Solve optimization problems like transportation and assignment problem.
• Develop critical thinking and use PERT and CPM techniques to improve decision making.
• Identify different types of decision-making environments and choose the appropriate decision-
making approaches for each.
SYLLABUS OF DSC – 6
Unit 1: Optimization: Linear Programming Problem (12 Hours)

Formulation of Linear Programming Problems, Graphical Solutions (Special cases: Multiple optimal
solution, infeasibility, unbounded solution); Simplex Method, Big-M method and Two-phase
method; Special cases, Duality (emphasis on formulation & economic interpretation); Post-
optimality and Sensitivity Analysis. Applications of linear programming to Marketing, Finance,
Operations Management, Data Envelopment Analysis etc.,
Unit 2: Transportation and Assignment Problem (9 Hours)
32
Transportation Problem: Formulation, Solution by N.W. Corner Rule, Least Cost method, Vogel’s
Approximation Method (VAM), Modified Distribution Method; Degeneracy, Special cases: Multiple
Solutions, Maximization case, Unbalanced case, Prohibited routes.
Assignment Problem: Hungarian Method, Special cases: Multiple Solutions, Maximization case,
Unbalanced case, Restrictions on assignment.
Unit 3: Network Analysis (12 Hours)
Basic Concept, Construction of AOA Network diagram, Critical Path Analysis, float and slack analysis
(Total float, free float, independent float, Safety Float), probability consideration in PERT, Time-Cost
Trade-off in Project.
Unit 4: Decision Theory (12 Hours)
Decision making environment, Construction of Pay off Table, Opportunity Loss Table, Decision under
uncertainty, Decision under Risk: EMV, EOL, EVPI.
Decision under Conflict: Game Theory, Two-person Zero-Sum games, Maximin Minimax Principle,
Games without Saddle point- Mixed strategy, Dominance Rule; Reduction of m x n game and
solution of 2x2, 2 x s, and r x 2 cases by Graphical Method.
Essential/Recommended Readings
1. Vohra, N. D., Quantitative Management, Tata McGraw Hill.
2. Kanti Swarup, Gupta, P. K., & Man Mohan, Operations Research, Sultan Chand & Sons.
Suggested readings
1. Taylor, B. W., Introduction to Management Science, Pearson India.
2. Hillier, M. S., & Hillier, F. S., Introduction to Management Science, Pearson India.
COMMON POOL OF GENERIC ELECTIVES (GE) COURSES
GENERIC ELECTIVES (GE-4): FUNDAMENTALS OF ECONOMETRICS

Course title & Code Credits Credit distribution of the Eligibility
Pre-
Practice course
FUNDAMENTALS OF 4 3 0 1 Class XII Nil
ECONOMETRICS (GE-4) Pass
33
Learning Objectives
• This course provides a comprehensive introduction to basic econometric concepts and techniques.
• It covers estimation and diagnostic testing of simple, multiple regression models, panel data models,
and dummy variable regression with qualitative response regression models.
Learning Outcomes
• Understanding of basic econometrics and its assumptions and the impact of violations of
classical assumptions.
• Interpretation of functional forms of regression model.
• Understanding of models using dummy variables and Qualitative Response Regression Models.
SYLLABUS OF GE-4
Unit 1 (12 Hours)

Introduction to Econometrics and an overview of its applications; Simple Regression with Classical
Assumptions; Properties of estimators,Least Square Estimation and BLUE, Multiple Regression
Model and Hypothesis Testing Related to Parameters – Simple and Joint. Functional forms of
regression models.
Unit 2 (9 Hours)
Understanding the impact of change in scale of variables on output. Indicators of Goodness of fit of
a model; Understanding and calculation of R Square and adjusted R Square.Understanding and
calculation of information criteria for model selection: AIC, BIC, and HQC. Understanding of outliers
and their impact on the model’s output.
Unit 3 (12 Hours)

Violations of Classical Assumptions: expected value of error term is zero, normality,
multicollinearity, heteroscedasticity, autocorrelation, and model specification errors, their
identification, their impact on parameters; tests related to and impact on the reliability and the
validity of inferences in case of, violations of Assumptions; methods to take care of violations of
assumptions.
Unit 4 (12 Hours)

Dummy variables: Intercept dummy variables, slope dummy variables, Interactive dummy variables,
Use of Dummy Variables to model qualitative/Binary/Structural changes, Response Regression
Models or Regression Models with Limited Dependent Variables - Use of Logit, and Probit Models.
Practical component (30 Hours) –Recommendation Computer Package to be used: Use of softwares
like E-Views, R, and STATA to solve real-life problems and check assumptions, taking care of
34
assumption violations, and test goodness of fit, and for estimation of Logit, and Probit Models is
recommended.
Essential/Recommended Readings:
1. Christopher Dougherty. Introductory Econometrics. Oxford University Press.
2. Gujarati, N. Damodar. Basic Econometrics. New Delhi: McGraw Hill.
3. Gujarati, N. Damodar. Econometrics by Examples. New Delhi: McGraw Hill.
Suggested Readings:
1. Pindyck, Robert S. and Daniel L. Rubinfeld Econometric Models and Economic Forecasts.
Singapore: McGraw Hill.
2. Ramanathan, Ramu (2002). Introductory Econometrics with Applications (5th ed.). Thomson
South-Western.

35
GENERIC ELECTIVES (GE-5): ESSENTIALS OF FINANCIAL INVESTMENTS

Course title & Code Credits Credit distribution of the Eligibility
Pre-
Practice course
Essentials of Financial 4 3 1 0 Class XII Nil
Investments (GE-5) Pass
Learning Objectives
• To familiarize students with the essential concepts and fundamentals of financial investments.
• The course will enable them to understand and make informed choice about the various available
financial investment alternatives.
Learning Outcomes
On successful completion of his course, the students will be able to:
• Understand the fundamentals of financial investments and the investment decision process.
• Able to compute various measures of risk and return, and understand their role for evaluating
investments.
• Understand and carry out security analysis using different approaches.
• Learn basic approaches to valuation of securities and carry out portfolio analysis.
SYLLABUS OF GE-5
Unit 1: Investments – An Overview (9 Hours)

Concept of Investment, Financial Investment Vs. Real Investment, Investment Vs Speculation,
Objectives of Investment, Risk Return Trade Off, Investment Environment – Overview of Securities
Market and Different Types of Financial Investment. Investment Decision Process, Direct Investing
Vs Indirect Investing, Approaches to Investing – Active Vs Passive. Diversification, Hedging and
Arbitrage.
Unit 2: Risk – Return Analysis (9 Hours)

Concepts of Return and Risk, Types of Return - their Calculation & Utility: Absolute Return, Average
Return, Expected Return, Portfolio Return, Holding Period Return, Effective Annualized Return, Risk-
Adjusted Return. Causes (or Sources) and Types of Risk – Systematic and Unsystematic Risk,
Calculation of Total, Systematic and Unsystematic Risk. Impact of Taxes (discuss relevant provisions
of Income Tax Act, 1961) and Inflation on Investment – Computation of Post Tax and Real Returns.
36
Unit 3: Security Analysis (15 Hours)
Approaches to Security Analysis – Fundamental Analysis, Technical Analysis, and Efficient Market
Hypothesis (EMH). Fundamental Analysis – EIC Framework, Economic Analysis, Industry Analysis,
and Company Analysis. Technical Analysis – Basic Tenets of Technical Analysis, Tool of Technical
Analysis – Charts, and Technical Indicators, Limitations of Technical Analysis. Difference between
Fundamental Analysis and Technical Analysis. Efficient Market Theory (EMH) – Concept, Forms of
Market Efficiency, Weak Form Hypothesis, Semi Strong Form, and Strong Form of Market Efficiency.
Implications of EMH.
Unit 4: Fundamentals of Valuation and Portfolio Analysis (12 Hours)

Valuation of Equity Shares – Peculiar features of Equity Shares, Dividend Discount Model, Relative
Valuation - Earning Multiplier or Price-Earnings (P/E) Model and Price to Book Ratio; Capital Asset
Pricing Model (CAPM) – its assumptions and limitations. Valuation of Fixed Income Securities – Bond
Fundamentals, Types of Bonds, Determination of Bond Prices and Bond Yield. Portfolio Analysis –
Portfolio Management Process, Portfolio Analysis – Portfolio Risk, Portfolio Return, Markowitz
Model.
2. Chandra, Prasanna: Investment Analysis and Portfolio Management. McGraw Hill Education.
Suggested Readings:
2. Reilly, F. K. & Brown, K.C. Analysis of Investments and Management of Portfolios, Cengage
India Pvt. Ltd.
Note: Examination scheme and mode shall be as prescribed by the Examination Branch, University
of Delhi, from time to time.
37
GENERIC ELECTIVES (GE-6): PERSONAL FINANCE

Course title & Code Credits Credit distribution of the course Eligibility Pre-
Lecture Tutorial Practical/ criteria requisite of
Practice the course
PERSONAL FINANCE 4 3 1 0 Class XII Nil
(GE-6) Pass
Learning Objectives
• To equip students with the knowledge and practical understanding of important dimensions of
managing one’s personal finance.
• They would be able to understand and do planning for their tax liabilities, investments, insurance
coverage, and retirement.
Learning Outcomes
• Understand the fundamentals of Personal Financial Planning.
• Learn the basics of managing personal tax liabilities.
• Able to ascertain and choose appropriate insurance policies for managing personal risks.
• Appreciate the importance of choosing right investments for managing personal finance.
• Learn the basic concepts and underlying principles for Retirement Planning.
SYLLABUS OF GE-6
Unit 1: Basics of Personal Finance and Tax Planning (12 Hours)

Understanding Personal Finance. Rewards of Sound Financial Planning. Personal Financial Planning
Process. Personal Financial Planning Life Cycle. Making Plans to Achieve Your Financial Goals.
Common Misconceptions about Financial Planning. Financial Planning as a career choice. The
Financial Planning Environment. Personal Tax Planning – Tax Avoidance versus Tax Evasion,
Fundamental Objectives of Tax Planning, Tax Structure in India for Individuals, Common Tax
Planning Strategies – Maximizing Deductions, Income Shifting, Tax-Free and Tax-Deferred Income.
Unit 2: Managing Insurance Needs (12 Hours)

Basics Concepts – Risks, Risk Management and Underwriting. Insuring Life – Benefits of Life
Insurance, evaluating need for Life Insurance, Determining the Right Amount of Life Insurance.
Choosing the Right Life Insurance Policy – Term Life Insurance, Whole Life Insurance, Universal Life
Insurance, Variable Life Insurance, Group Life Insurance, Other Special Purpose Life Policies. Buying
Life Insurance – Compare Costs and Features, Select an Insurance Company, and Choose an Agent.
Life Insurance Contract Features. Insuring Health – Importance of Health Insurance Coverage.
38
Making Health Insurance Decision – Evaluate Your Health Care Cost Risk, Determine Available
Coverage and Resources, Choose a Health Insurance Plan. Types of Medical Expense Coverage.
Policy Provisions of Medical Expense Plans. Property Insurance – Basic Principles, Types of Exposure,
Principle of Indemnity, and Coinsurance.
Unit 3: Managing Investments (12 Hours)

Role of Investing in Personal Financial Planning, Identifying the Investment Objectives, Different
Investment Choices. The Risks of Investing, The Returns from Investing, The Risk-Return Trade-off.
Managing Your Investment Holdings – Building a Portfolio of Securities, Asset Allocation and
Portfolio Management, Keeping Track of Investments. Investing in Equity – Common
Considerations, Key Measures of Performance, Types of Equity Stocks, Market Globalization and
Foreign Stock, Making the Investment Decision. Investing in Bonds – Benefits of Investing in Bonds,
Bonds Versus Stocks, Basic Issue Characteristics, The Bond Market, Bond Ratings. Investing in
Mutual Funds and Exchange Traded Funds (ETFs) – Concept of Mutual Funds and ETFs, Benefits of
Investing in Mutual Funds or ETFs, Some Important Cost Considerations, Services Offered by Mutual
Funds, Selecting appropriate Mutual Fund and ETF investments, Evaluating the performance of
Mutual Funds and ETF.
Unit 4: Investing in Real Estate and Retirement Planning (9 Hours)

Investing in Real Estate – Some Basic Considerations. Modes of Real Estate Investment – Raw Land,
Commercial Properties, Residential Properties, Real Estate Investment Trusts (REITs) and
Infrastructure Investment Trust (InvITs).
Planning for Retirement – Role of Retirement Planning in Personal Financial Planning, Pitfalls to
Sound Retirement Planning, Estimating Income Needs, Sources of Retirement Income.
1. Randall S. Billingsley, Lawrence J. Gitman, and Michael D. Joehnk (2017): Personal Financial
Planning. Cengage Learning.
2. Susan M. Tillery, and Thomas N. Tillery: Essentials of Personal Financial Planning. Association of
International Certified Professional Accountants.
Suggested Readings:
1. Introduction to Financial Planning (4th Edition 2017) – Indian Institute of Banking & Finance.
2. Sinha, Madhu. Financial Planning: A Ready Reckoner. July 2017. Mc Graw Hill

39
UNIVERSITY OF DELHI
CNC-II/093/1(25)/2023-24/65
Dated: 29.05.2023
NOTIFICATION
Sub: Amendment to Ordinance V
[E.C Resolution No. 60/ (60-1-9) dated 03.02.2023]
Following addition be made to Appendix-II-A to the Ordinance V (2-A) of the
Ordinances of the University;
Add the following:
Syllabi of Semester-III of the Department of Finance & Business Economics under
Faculty of Applied Social Sciences & Humanities based on Under Graduate
Curriculum Framework -2022 implemented from the Academic Year 2022-23.
Bachelor of Business Administration (Financial Investment Analysis) [BBA (FIA)]

(FASSH)
DSC 7: CORPORATE FINANCE
Course title Credit Credit distribution of the course Eligibility Pre-
& Code s criteria requisite of
Lecture Tutorial Practical/ the course
Practice (if any)
DSC 7: 4 3 1 NIL Class XII NIL

CORPORAT
E FINANCE
Course Objectives:
• To provide an understanding of the essential elements of the financial environment in
which the business firm operates.
• To acquaint students with the techniques of financial management and it’s
applications for business decision making.
• It aims to give and develop in the students the viewpoint of the CFO of a firm, though
it will also be useful in developing relevant skills for various strategic finance roles
in the modern business entities.
1
Learning Outcome:
After studying this course, the student will be able to:
• Understand the basic concepts of financial management.
• Understand how to coordinate various decisions to maximize wealth of an
organisation in today`s financial environment.
• Equipped to arrive at strategic corporate finance decisions with the required accuracy
which will be aided by using various excel functions.
Course Contents:
Unit 1 (8 Hours)
Management; Profit Maximization, Wealth Maximization. Functions of Finance – Finance
Decision, Investment Decision, Dividend Decision; Risk-Return Trade-off in Finance
Functions. Organisation of finance function; Concept of Time Value of Money – present value,
future value, annuity, growing annuity, perpetuity, growing perpetuity, excel functions of time
value of money.
Unit 2 (16 Hours)
Strategic Investment Decisions: Capital Budgeting– Nature and meaning of capital

budgeting; Principles and Process; Estimation of relevant cashflows and terminal value;
Evaluation techniques– Payback period, Accounting Rate of Return, Payback Period, Net
Present Value, Internal Rate of Return & MIRR, NPVvs.IRR, Net Terminal Value, Profitably
Index Method, Risk analysis in Capital Budgeting-Sensitivity and Scenario analysis, Certainty
Equivalent Approach, RADR, Real options, excel functions of capital budgeting techniques.
Cost of Capital: Meaning and concept, Measurement of cost of capital-Cost of debt; Cost of
cost of capital based on Historical and Market weights(WACC); Adjusting cost of capital for
risk.
Unit 3 (12 Hours)

Strategic Financing Decisions – Capital Structure, Theories and Value of the firm –
NetIncome approach, Net Operating Income approach, Traditional approach, Modigliani
Miller (MM) model, HAMADA model; Determining the optimal capital structure, Checklist
for capital structure decisions, Costs of bankruptcy and Financial distress, Trade off models,
Pecking Order Theory.
Leverage analysis and EBIT-EPS Analysis: Concept of leverage, Types of leverage:
Operating leverage, Financial leverage, Combined leverage; EBIT-EPS Analysis, Guidelines
for capital structure planning, Link between capital structure and capital budgeting
Dividend Decisions: Factors determining dividend policy, Theories of dividend – Gordon
model, Walter model, MM Hypothesis, Signaling Theory, Forms of dividend–Cash dividend,
Bonus shares, Stock split, Dividend policies in practice, Patterns observed in payout policies
worldwide.
Unit 4 (9 Hours)
2
Working Capital Management
Working Capital Management: Determination of Working Capital. Determining financing mix
of working capital. Receivables Management – Objectives; Credit Policy, Cash Discount,
Debtors Outstanding and Ageing Analysis; Costs – Collection Cost, Capital Cost, Default Cost,
Delinquency Cost. Management of Cash (Theory only) – Need for Cash, Cash Management
Techniques (Lock box,Concentration Banking). Inventory Management (Theory only) – ABC
Analysis; Minimum Level; Maximum Level; Reorder Level; Safety Stock; EOQ (Basic
Model).
Essential Readings: (Latest editions of the following to be used)
1. Berk, J., & DeMarzo, P. (5th ed.).Corporate Finance, Pearson - Prentice Hall.
2. Horne, J. C. V., & Wachowicz, J. M., Jr. (13th ed.). Fundamentals of Financial
Management. Prentice Hall, Pearson Education.
3. Pandey, I. M. (n.d.). Financial Management. Pearson.
1. Khan, M.Y. & Jain, P.K.(n.d.) Financial Management Text Problem and Cases, Tata Mc
Graw Hill Publishing Co. Ltd.
2. Brealey, R.R., Myers.S., Allen, F.,&Mohanty, P.(n.d.)Principles of Corporate Finance.
New Delhi: Tata Mc-Graw Hill.
Teaching – Learning Process
Examination scheme and mode:
Evaluation scheme and mode will be as per the guidelines notified by the University of Delhi.
Key Words
Finance, Capital Budgeting, Wealth Maximization, Cost of Capital, Dividends, Leverage.
3
DSC 8: FINANCIAL MARKETS & INSTITUTIONS
Course title & Credits Credit distribution of the course Eligibility Pre-requisite of
Code criteria the course (if any)
Lecture Tutorial Practical/
Practice

FINANCIAL
MARKETS &
INSTITUTIONS
Course Objectives:
• The objective of this paper is to introduce students to role and functioning of

financialmarkets,financialproductsthataretradedinsuchfinancialmarketsandinstitutions
associatedwithfinancialmarkets.
• It explains the role of financial system on economic development. Various conceptual
issues related to risk and return, the role of regulatory bodies, mechanism of commercial
banking, operations of insurance companies and mutual funds are discussed
elaborately. This will enable them to take the rational decision in financial environment.
Learning Outcomes:
• Financial architecture of an economy and its keyplayers.
• The fabrication of Indian Financial markets.
• Working of Capital market, debt market, money market in India
• FunctioningofdifferentplayersinfinancialmarketincludingRegulators.
Course Contents:
Unit1: IndianFinancialSystemand majorInstitutions (12 Hours)
Structure of Indian Financial System: An overview of the Indian financial system, major
reforms in the last decade: Payment banks, GST, innovative remittance services, Insolvency
and Bankruptcy code. Regulatory Institutions in India: RBI, SEBI, IRDA, PFRDA.
Commercial Banking: Role of Banks, NPA, Risk Management in Banks. Universal Banking:
need and importance, Core banking solution (CBS), NBFCs and its types; comparison between
Banks and NBFCs.
Unit 2: Financial Markets in India (9 Hours)
Introduction to Financial Markets in India: Role and Importance of Financial Markets, Types
of Financial Markets: Money Market; Capital Market; Linkages Between Economy and
Financial Markets, Integration of Indian Financial Markets with Global Financial Markets,
Primary Market: Instruments, book building process (numerical). Merchant Bank: role and
types, Mutual Fund: types of Mutual Funds and different types of schemes. Corporate
4
Listings:Listing and Delisting of Corporate Stocks, Foreign Exchange Market: Introductory,
only Conceptual.
Unit 3: Capital Market in India (12 Hours)
Introduction to Stock Markets, Regional and Modern Stock Exchanges, International Stock
Exchanges, Demutualization of exchanges, Indian Stock Indices and their construction. Major
Instruments traded in stock markets: Equity Shares, Debentures, Exchange Traded Funds.
Trading of securities on a stock exchange; Selection of broker, capital and margin
requirementsofabroker,MTMandVARMargins(withnumerical),kindsofbrokers,openingofanac
counttotradeinsecurities,DEMATSystem,placinganorderforpurchase/sale of shares, contract
note and settlementof contracts, Commodity Markets – Structure.
Unit4: MoneyMarkets&DebtMarketsinIndia (12 Hours)
MoneyMarket:Meaning,roleandparticipantsinmoney markets,Segmentsofmoneymarkets, Call
Money Markets, Repos and reverse Repo concepts, Treasury Bill Markets, Certificateof
Deposit and Commercial Paper (with numerical). Debt Market: Introduction and meaning,
Primary Market for Corporate Securities in India:Issue of Corporate Securities,
Secondarymarket for government/debt securities (NDS-OM), Auction process (with
Numerical), CorporateBondsvs. Government Bonds. Retail Participation in Money and Debt
Market-RBI Retail Direct platform.
Essential Readings
1. Bhole, L. M., & Mahakud, J. (2018). Financial Institutions and Markets: Structure,
Growth and Innovations (6th Edition). McGraw Hill Education.
2. Saunders, A., & Cornett, M. M. (2007). Financial Markets and Institutions (3rd ed.). Tata
McGraw Hill.
3. Pathak, B. V. (2008). Indian Financial System: Markets, Institutions and Services (2nd
ed.). Pearson Education.
4. Khan, M. Y. (n.d.). Financial Services. McGraw Hill Education.
AdditionalReadings:
1. Madura, J. (2008). Financial Institutions and Markets. Cengage Learning EMEA.
2. Kohn, M. G. (2004). Financial Institutions and Markets. Oxford University Press.
3. Fabozzi, F. J., & Modigliani, F. (2005). Capital Markets: Institutions and Markets (3rd
ed.). Prentice Hall of India.
Teaching Learning Process: Lecture, discussion, Power Point presentations, Course

Contents: may be discussed in light of latest SEBI regulations and RBI guidelines.

Key Words: Indian Financial System, Financial Markets, Financial Institutions, Capital
Market, Money Market, Debt Markets.
5
DSC 9: CORPORATE LAW
Code criteria the course (if any)
Practice

CORPORATE
LAW
Course Objective(s):
In view of increasing emphasis on adherence to norms of good corporate governance, Company

Law assumes an added importance in the corporate legislative it deals with structure,
management, administration and conduct of affairs of Companies and to understand the
applications of company laws to practical commercial situations.
Learning Outcomes:
• Identify the different types of contracts and their characteristics.
• Analyze special contracts such as contract of indemnity and guarantee, bailment and
pledge, and agency.
• Acquire theoretical and practical perspective on many aspects of Indian companies Act.
• Understand the concept of formation, functioning, meetings, directors and winding off of
company.
• Develop critical thinking through the use of company law cases.
• Understand consequences of applicability of contract and Insolvency and bankruptcy laws
in business situations.
Course Contents:
Unit 1 (16 Hours)
The Indian Contract Act 1872:Meaning and Essentials of contract; Kinds of contract; law
relating to offer and acceptance, consideration, competency to contract, free consent, void
agreements, performance of contracts, discharge of contracts, breach of contracts and quasi
contract; Special contracts: contract of indemnity and guarantee, bailment and pledge, and
agency.
Unit 2 (12 Hours)

The Companies Act 2013:Meaning and Nature of Company with Emphasis on its Advantages
and Disadvantages over other forms of Business organizations, Comparison between Company
6
and Partnership and Company and Limited Liability Partnership, Kinds of Companies–Public,
Private, Holding, Subsidiary, Limited and Unlimited Companies, Share-holding and Guarantee
Companies, Small company, One person company, Government company and foreign
company.
Unit 3 (12 Hours)

Incorporation and Documents of Company; Incorporation of Company, Procedure of
registration, Certificate of Incorporation, Promoters and their position, Powers, Duties and
Liabilities; Memorandum of Association (MOA), Articles of Association (AOA), Alteration of
MOA and AOA; Prospectus and its Kinds, Directors: Duties of Directors and their Criminal
and Civil liabilities.
Company meetings: Kinds of Meetings, Essential Conditions of a Valid Meeting, Procedure
for Calling Company Meeting; Adjudicatory Bodies: National Company Law Tribunal;
National Company Law Appellate Tribunal – Constitution, Powers, Jurisdiction, Procedure;
Winding up of Companies.
Unit 4 (5 Hours)
Insolvency and Bankruptcy Code 2016:Introduction of Insolvency and Bankruptcy Code
2016 (IBC), purpose behind enactment of IBC, regulatory mechanism, Insolvency Process,
Adjudicating authority, Committee of creditors, Reorganization, Liquidation.
Essential Readings:
1. Singh, A. (n.d.). Principles of Mercantile Law. Eastern Book Company.
2. Kapoor, G. (n.d.). Business Law. New Age International Pvt. Ltd Publishers.
3. Maheshwari, M., & Maheshwari, S. (n.d.). Principles of Mercantile Law. National
Publishing Trust.
4. Aggarwal, R. (n.d.). Mercantile & Commercial Law. Taxmann.
Teaching – Learning Process: Lecture, Discussion, Presentations, Course contents shall be

discussed in the light of relevant case laws.

Key Words: Indian Contract Act, Companies Act, Insolvency and Bankruptcycode.
7
DISCIPLINE SPECIFIC ELECTIVE (DSE) COURSES
DSE 1: PROJECT APPRAISAL AND FINANCING
criteria requisite of
the course
Practice (if any)
DSE 1: PROJECT 4 3 1 NIL Class XII NIL

APPRAISAL AND
FINANCING
Course Objectives:
• To provide an understanding to the students about identification of a project, feasibility

analysis, alternative project appraisal techniques, Project financing.
Learning Outcomes:
On successful completion of this course, the students will be able to:
• Apply various methods of project Appraisal.
• Use Capital Budgeting techniques for financial evaluation and selection of Projects.
• Understand the concept and application of Social Cost and Benefit Analysis.
• Carry out Risk Analysis for business projects and identify alternative sources of financing.
• Apply appraisal techniques for evaluating live projects.
Course Contents
Unit 1: Introduction to Projects and their Appraisal (9 Hours)

Project Definition, Project Identification, Project Life Cycle, Project Stakeholder Analysis,
Feasibility study.Types of Project Appraisal (Brief Overview): Market and Demand Analysis,
Technical Appraisal, Financial Appraisal, Economic Appraisal, Managerial Appraisal, and
Social Appraisal.
Unit 2: Financial and Social Appraisal (15 Hours)
Project Cost and its components, Investment Evaluation Methods (Non-Discounting and
Discounting Methods): Payback Period, Accounting Rate of Return, Discounted Payback
Period,Net Present Value, Profitability Index, Internal Rate of Return (IRR), Modified Internal
Rate of Return (MIRR). Suitability of Methods to different Projects, Investment Evaluation in
Practice. Social Appraisal: Rationale for Social Cost Benefit Analysis, Approaches of SCBA
8
(UNIDO and Little-Mirrlees Approach), Environment Impact Assessment (EIA) and Social
Impact Assessment (SIA) of Projects. Relevant Case Studies.
Unit 3: Project Risk Analysis (12 Hours)
Risk Analysis and Management: Sources and Measures of Risk. Methods of Assessing Risk –
Sensitivity Analysis, Scenario Analysis, Break-Even Analysis, Simulation Analysis, Decision
Tree Analysis, Project Selection under Risk – Judgmental Evaluation, Payback Period, Risk
Adjusted Discount Rate Method, Certainty Equivalent Method, Strategies for Risk
Management.
Unit 4: Project Financing (9 Hours)
Capital Structure; Choices of Financing; Sources of Financing – Internal Accruals, Equity
Capital, Preference Capital, Debentures (or Bonds), Term Loans, Venture Capital, Private
Equity, Venture Capital Vs Private Equity, Loan Syndication, Consortium Financing, Public
Private Partnership (PPP), Securitization, Crowd Funding; Raising Capital from International
Markets: Foreign Issue, Foreign Direct Investment (FDI), External Commercial Borrowings
(ECB).
Essential Readings:
1. Chandra, P: Projects – Planning, Analysis, Selection, Financing, Implementation, and
Review. 2019 Edition. McGraw Hill Education.
2. Agrawal, R., & Mehra, Y. S. (2017). Project Appraisal and Management. Taxman
Publications.
1. Goodpasture, C.JQuantitative Methods in Project Management. J. Ross Publishing.
2. Chandra, P,Financial Management: Theory and Practice, McGraw Hill Publishing.

Class room lecture, Numerical Problem solving, Case study discussion, Class presentationon
Key Words
Project Appraisal, Market and Demand Analysis, Technical Appraisal, Financialand
Investment Appraisal, Risk Analysis, Socio-Economic Appraisal, Project Financing.
9
DSE 2: DIGITAL FINANCE
criteria requisite of
Lecture
the course
(if any)
DSE 2: DIGITAL FINANCE 4 3 1 NIL Class XII NIL
Course Objective(s): The goal of the course is to get the students acquainted with the dramatic
changes in the financial sector generated by the digital revolution.
Learning Outcomes:
After studying this course the student will get the:
• Understanding of the nature of digital revolution in finance.
• Knowledge of key digital technologies and products, and state reaction to the digital
revolution.
• Knowledge of FinTech, big data analytics and new financial business models.
Course Contents:
Unit 1: Digital Transformation of Finance (4 Hours)
A Brief History of Financial Innovation, Digitization of Financial Services, Introduction to
FinTech & Funds, FinTech Transformation, FinTech Typology, Collaboration between
Financial Institutions and Start-ups. Introduction to Regulation and future of RegTech.
Crowdfunding- Role of finance in economy, the role of financial intermediaries, Types and
functioning of crowdfunding markets, Differences between traditional funding models and
crowdfunding markets, Informational problems in the crowdfunding model.
Unit 2: Payment Systems (9 Hours)

Digitalization of the payment system. The historical evolution of the payment system.,
Attributes of a well-functioning payment system., Banks as guarantors of the payment system,
new entrants and new payment models: risks for the banking system. FinTech applications in
Banking & Non-Banking Financial Companies (NBFCs); Insurance; payments; Lending;
Audit; and Compliance. Electronic Clearing Service (ECS) ,Real Time Gross Settlement
(RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS),
Unified Payments Interface (UPI), Growth of Digital Payments in India, RBI guidelines on
Digital Payments.
Unit 3: Crypto Assets and Blockchains (16 Hours)

Introduction: Crypto an asset for trade and Crypto-currency, Problems with issuerscredibility,
Fin Tech & Securities Trading; Cryptocurrencies and its future as currency, blockchain as a
registration mechanism, Functioning of the block chain system. The integration of digital
10
currency and blockchain and issuers incentive problems; Proptech: FinTech of Real Estate;
Possible alternative uses of blockchain technology in the economy and difficulties in its
implementation. Use of bitcoin in money laundering., The regulatory debate. Introduction of
Central Bank Digital Currency (CBDC). Other Emerging Financial Technologies: Internet of
things (IOT) & AR/VR applications.
Unit 4: FinTech, Big Data Analytics, and new Financial Business Models (16 Hours)
The use of data in traditional credit decisions, the combination of big data and machine learning
to improve financing decisions., Smart accounts, customized financial products, risk
management and fraud prevention., High frequency trading: opportunities and risks.
Digital security, Challenge of confidentiality, integrity and availability, Digital securities as a
new systemic risk in the economy. Regulations on cybersecurity. Latest development in the
field of Digital Finance.
Essential Readings:
1. Lynn, T., Mooney, J. G., Rosati, P., & Cummins, M. (2019). Disrupting finance:
FinTech and strategy in the 21st century. Springer Nature.
2. Beaumont, P. H. (2019). Digital Finance: Big Data, Start-ups, and the Future of
Financial Services. Routledge.
1. Phadke, S. (2020). FinTech Future: The Digital DNA of Finance. Sage Publications.
2. Maese, V. A., Avery, A. W., Naftalis, B. A., Wink, S. P., & Valdez, Y. D. (2016).
Cryptocurrency: A primer. Banking LJ, 133, 468.
Lecture, discussion, Power Point presentations, Case Studies, Workshop, Tutorials.
Key Words
Crowdfunding, Bitcoin, Blockchain Technology, Fintech, Digital Security, Cryptocurrency.
11
DSE 3: INSURANCE MANAGEMENT
criteria requisite
Lecture
of the
course (if
any)
DSE 3: INSURANCE 4 3 1 NIL Class XII NIL

MANAGEMENT
Course Objectives: To enable students to identify and manage different types of risks. They
will be able to understand the concepts, types and principles of Insurance. Further, they will
know the important aspects and technical components of management of Insurance business.
Learning Outcomes:
● identify and analyze various types of risks faced by individuals and businesses, evaluate
the role and importance of insurance in mitigating these risks, and differentiate between
different types of insurance
● understand the principles of risk management, techniques for managing risks, and legal
principles governing insurance contracts, and develop an understanding of real-world
risk management scenarios.
● understand the legal Characteristics and components of insurance contracts,
underwriting principles, claims settlement process, and the regulatory framework of
the insurance industry in India.
● comprehend the different aspects of insurance business management, including
reinsurance, alternative risk transfer, investments, rate-making, coinsurance, and
important provisions of insurance policies.
Course Contents
Unit 1: Insurance and Risk (12 Hours)
Risk – Definitions of Risk, Chance of Loss, Peril and Hazard, Classification of Risk, Major
Personal Risks and Commercial Risks, Burden of Risk on Economy and Society. Insurance –
Definition of Insurance, Basic Characteristics of Insurance, Law of Large Numbers,
Characteristics of an Ideally Insurable Risk, Benefits and Costs of Insurance to Society. Life
and General Insurance: Types, Difference between Life and General insurance.
Unit 2: Insurance Principles & Risk Management (12 Hours)

Risk Management – Meaning of Risk Management, Objectives of Risk Management, Steps in
the Risk Management Process, Techniques for Managing Risk, Benefits of Risk Management.
Personal Risk Management. Enterprise Risk Management (briefly) – Concept & Benefits. Case
Studies on Management of different Personal and Business Risk to be discussed. Fundamental
12
Legal Principles – Principle of Indemnity, Principle of Insurable Interest, Principle of
Subrogation, Principle of Utmost Good Faith. Requirements of an Insurance Contract.
Unit 3: Insurance Company Operations (12 Hours)

Requirements of anInsurance Contract, Distinct Legal Characteristics of Insurance Contracts.
Components of Insurance Contracts – Declarations, Definitions, Insuring agreement,
Exclusions, Conditions, and Miscellaneous provisions. Underwriting – Underwriting Policy,
Underwriting Principles, Sources of Underwriting Information. Sales and Marketing activities
of Insurers. Claims Settlement – Basic Objective, Parties Involved & Steps in Settlement
Process. Endorsements and Riders. Deductibles – Concepts and Purpose of Deductibles.
Regulatory Framework of Insurance in India (briefly) – Insurance Legislation and IRDA.
Unit 4: Important Aspects of Insurance Business Management (9 Hours)

Reinsurance – Definitions, Reasons for Reinsurance, Types of Reinsurance – Facultative &
Treaty Reinsurance, Methods of Sharing Losses (Numerical Qs). Alternatives to Traditional
Reinsurance – Securitization of Risk and Catastrophe Bonds. Insurance and Investments – Life
Insurance Investments, Property and Casualty Insurance Investments. Rate Making – Concept,
Objectives, Rate Making Methods (Numerical Qs) – Judgement, Class and Merit Rating
Method. Coinsurance – Nature, Purpose and Problems. Other Important Provisions – Pro
Rata liability, Contribution by Equal Shares, and Primary and Excess Insurance.
Essential Readings:
1. Rejda, G. E., McNamara, M. J., & Rabel, W. H. (2021). Principles of Risk Management
and Insurance. (14th ed.). Pearson Education.
2. Mishra, M. N., & Mishra, S. B. (2016). Insurance Principles and Practice. (14th ed.). S.
Chand and Company.
1. Gupta, P. K. (2022). Insurance and Risk Management (2nd ed.). Himalaya Publishing
House.
2. Institute of Chartered Accountants of India. (2021). Diploma in Insurance and Risk
Management [Course modules].


Key Words
Risk Management, Principles of Insurance, Insurance Contract, Underwriting, Reinsurance,
Rate Making and Coinsurance.
13
DSE 4:INTERNATIONAL FINANCIAL ARCHITECTURE
Course title & Code Credits Credit distribution of the course Eligibility Pre-requisite
criteria of the course
Lecture
(if any)
DSE 4: INTERNATIONAL 4 3 1 NIL Class XII NIL

FINANCIAL
ARCHITECTURE
Course Objective: This paper will acquaint students with the latest developments in the international
business relationships and agencies funding for country’s development.
Learning Outcomes:
After completion of this paper:
• Students shall be aware of the latest development in the international business relationships
which will enable them to make better decisions related to international business.
• Students shall have the knowledge of different international investment avenues and
opportunities available.
• Students shall be aware of various regional trading blocks, international institutions and
funding agencies.
Course Contents:
Unit 1(12 Hours)

Review of Economic Theory on International Trade: Basis for international trade; gains from trade;
distributional issues, policy instruments and their impact, political economy. Importance, nature and
scope of international relation, modes of entry into international business, internationalization process
and managerial implications. Domestic, foreign and global environments and their impact on
international business decision; Growing concern forgreen trades.
Unit 2(12 Hours)

International economic & trading environment: Regional integration and trade blocks, regionalism v/s.
multilateralism, European Union.Integration of developing countries – BRICS, ASEAN, SAARC,
SAFTA, NAFTA, G-20. World trade in goods and services – Major trends and developments; World
trade and protectionism – Tariff and non-tariffbarriers; Counter trade, UNCTAD, WTO, GATT, GATS,
TRIM, TRIPS; India’s role in facilitating trade relations under BRICS, SAARC, SAFTA, ASEAN and
to WTO.
14
Unit 3(9 Hours)
International investment: Types and significance of foreign investments, factors affecting international
investment, growth and dispersion of FDI, Cross border mergers and acquisition, foreign investment in
India-Impact of reforms on competitiveness of the Indian Firms, EURO/ADR issues, ECBs; current
economic crises in US/Europe/Asia and its impact on economic growth in India.
Unit 4(12 Hours)

Economic institutions – International Monetary Funds (IMF), World Bank (IBRD, IDA, IFC), Asian
Development Bank, BRICS Development Bank, European Bank for Reconstruction and Development,
Bilateral funding arrangements with special reference to Japan International Cooperation Agencies
(JICA), agencies of USA; Case studies on Bilateral financing arrangements of Indian projects like Delhi
Metro, Dedicated Freight corridor, Nuclear Power Plant etc.
Essential Readings:
1. Radebaugh, L.H., Sullivan, D.P., Salwan, P., & Daniels, J.D. (n.d.). International Business
Environments and Operations (15th ed). Pearson.
2. Hill, W. L., Charles, & Jain, A.K. (2008). International Business (6th ed). India: McGraw Hill.
1. Bennet, R. (1999). International Business. Financial Times. London: Pitman Publishing.
2. Vyuptakesh, S. (2003). International Business (2nd ed). India: Pearson Education.
3. Krueger, A. O. (2002). Economic Policy Reforms and the Indian Economy. OUP.
4. Velasquez, M. G. (2012). Business Ethics Concepts and Cases (7th ed.). New Delhi: PHI.

Class room lecture, Case study discussion, Numerical Problem solving, Class presentation on the
assigned topic by students individually or in group, Workshop, Tutorials, Role play.

Key Words
International Trade, Trade blocks, Foreign investments, ECBs, Bilateral financing, Multilateral
Institutions.
15
GE1: FUNDAMENTALS OF FINANCIAL MANAGEMENT
Code criteria the course
Practice
GE1: 4 3 1 NIL Class XII NIL

Fundamental
s of Financial
Management
Course Objectives:

• To acquaint students with the techniques of financial management and their
Learning Outcome:
Upon completion of the course a learner shall be competent to:

• Understand the concept of time value of money, process of capital budgeting,
concepts of cost of capital and other aspects of financing, dividend and working
capital decisions
• Understand the process of making investments, raising finance for investment in fixed
and current assets and distribution of surplus from business operations.
• Apply the techniques of time value of money in real life situations, techniques of
capital budgeting in investment decisions, process to calculate the cost of capital and
share price based on dividends along with the estimation of working capital and its
components.
• Evaluate the investment opportunities available, the various financing mix that can be
used to derive the maximum value from the investment opportunities, the optimal
dividend payout and monitor the current asset requirements.
• Analyse the evaluation outcomes to choose the best investment opportunity at the
lowest cost of financing and adopt the optimal dividend pay-out along with the
optimal level of liquidity through the working capital route to derive maximum
wealth.
Create a portfolio of investments at the best possible financing and dividend mix with the most
appropriate working capital composition that will create maximum wealth under the given
constraints.
Course Contents:
16
Unit 1 (9 Hours)
Unit 2 (16 Hours)

Strategic Investment Decisions: Capital Budgeting -; Nature and meaning of capital budgeting;
Principles and Process; Estimation of relevant cash flows and terminal value; Evaluation
techniques– Payback period, Accounting Rate of Return, Net Present Value, Internal Rate of
Return, Net Terminal Value, Profitability Index Method.
Equity Share; Cost of Preference Share; Costof Retained Earning; Computation of over-all cost
of capital based on Historical and Market weights (WACC).
Unit 3 (12 Hours)

Strategic Financing Decisions- Capital Structure, Theories and Value of the firm – Net Income
approach, Net Operating Income approach, Traditional approach, Modigliani Miller (MM)
model.Leverage analysis and EBIT-EPS Analysis: Concept of leverage, Types of leverage:
Operating leverage, Financial leverage, Combined leverage; EBIT-EPS Analysis. Guidelines
for capital structure planning, Link between capital structure and capital budgeting. Dividend
Decisions: Factors determining dividend policy, Theories of dividend- Gordon model, Walter
model, MM Hypothesis. Dividend policies in practice.
Unit 4 (8 Hours)
Techniques (Lock box, Concentration Banking). Inventory Management (Theory only) – ABC
Model).
Essential Readings:
1. Berk, J., & DeMarzo, P. (n.d.). Corporate Finance (5th ed.). Pearson - Prentice Hall.
2. Horne, J. C. V., & Wachowicz, J. M. (n.d.). Fundamentals of Financial Management (13th
ed.). FT Prentice Hall, Pearson Education.
1. Khan, M. Y., & Jain, P. K. (n.d.). Financial Management Text, Problems, and Cases. Tata
McGraw Hill Publishing Co. Ltd.
2. Brealey, R. R., Myers, S., Allen, F., & Mohanty, P. (n.d.). Principles of Corporate Finance.
17

Key Words
Finance, Capital Budgeting, Wealth Maximisation, Cost of Capital, Dividends, Leverage,
Working Capital Management.
18
Course title & Credits Credit distribution of the course Eligibility Pre-requisite of the
Code criteria course
Practice
GE 3: 4 3 1 NIL Class XII NIL

FUNDAMENT
ALS OF STOCK
TRADING
Course Objectives:
The course will help the learner to:
• Understand the fundamentals of investment, investment environment, and the principles of
sound investment.
• Gain knowledge of the Indian securities market, including primary and secondary markets,
IPOs, stock exchanges, and stock indices.
• Learn about online security trading, including trading mechanisms, settlement processes,
and different types of orders.
• Understand mutual funds, their structure, advantages, and limitations, as well as different
types of schemes and plans.
• Gain knowledge of how to evaluate investment alternatives, including criteria for
evaluating mutual funds, and performance evaluation of mutual funds.
Learning Outcomes:
• Understand the fundamentals of investment, investment environment and principles of
sound investment, and evaluate different investment alternatives based on criteria such as
risk and return.
• Analyze the Indian securities market, differentiate between capital and money markets,
primary and secondary markets, and comprehend the role of market participants such as
issuers, investors, and intermediaries.
• Explain the trading mechanism on exchanges, online trading mechanisms, and the types of
orders and conditions associated with it.
• Evaluate mutual fund schemes, their structures, advantages, and limitations, and
comprehend the factors affecting the choice of mutual funds.
19
• Analyze the performance evaluation of mutual funds and comprehend the ranking
methodology used by CRISIL for mutual funds.
Course Contents
Unit 1: Basics of Investment & Investment Environment (9 Hours)
and Indirect Investing, Approaches to Investing – Active Investing and Passive Investing. Risk
Return Trade Off. Types of Securities – Equity Shares, Bonds and Debentures ,and
Alternatives.
Unit 2: Indian Securities Market (12 Hours)

Securities Market – Capital Market and Money Market, Difference between Capital and Money
Market, Primary and Secondary Market, Difference between Primary and Secondary Market.
Over the Counter (OTC) and Exchange Traded market. Modes of offering Equity Shares –
Initial Public Offering (IPO), Follow-on Public Offering (FPO), Difference between IPO and
FPO, Difference between Offer for sale (OFS) and Public offer (IPO/FPO).Methods of IPO
Pricing – Fixed Price Method and Book Building Method, The Book Building Process, Fixed
Price method v/s Book building Method. Market Participants – Issuer of Securities, Investors,
and Intermediaries. Role of Stock Exchange. Stock Exchanges in India. Securities (Stock)
Indices – Broad Market Indices, Sectoral Indices and Thematic Indices.
Unit 3: Online Security Trading (12 Hours)

(Equities).
Online Trading – Introduction, Online Trading Mechanism. Online Real Time Price Quotations
– Bid Price, Ask Price, Bid-Ask Spread, Tick Size, LTP, ATP. Circuit Breakers – Upper
Circuit, Lower Circuit, NSE rules regarding Circuit Breaks. Price Bands, Rules regarding Price
Bands on NSE. Electronic Order Book. Types of Orders – Market Order, Limit Order, Stop
Loss Order, Stop Loss (Limit) Order, Stop Loss (Market) Order, After Market Order (AMO).
Order Conditions – Price related conditions, Time related conditions, Quantity related
conditions. Placing an Order, View/Modify/Cancel an Order.
Unit 4: Investing in Mutual Funds (12 Hours)

20
Domestic Funds and Off-Shore funds; Growth funds, Income funds and Balanced funds; Equity
Fund schemes, Debt fund schemes, Gilt Funds, Money Market Funds, Tax Saving or Equity
Linked Savings Scheme (ELSS), Index schemes, Sectoral Funds, Ethical Funds, Load and No-
Load Fund, Fund of Funds, Systematic Investment Plans (SIP), Systematic Withdrawal Plans
(SWP), Systematic Transfer Plans (STP), and Exchange Traded Funds. Net Asset Value, Cost
incurred and Return from Mutual funds, Types of Loads. Performance Evaluation of Mutual
Funds. Factors affecting choice of Mutual funds. Mutual funds in India. CRISIL and their
Rankings for mutual funds – Ranking Methodology and Usage of Mutual Fund Rankings.
Essential Readings:
• Bhalla, V.K. (2018). Investment Management: Security Analysis and Portfolio
Management. S. Chand Publishing.
• Varshney, R.L., & Bhalla, V.K. (2017). Indian Financial System: Theory and Practice. S.
Chand Publishing.
• Krishnan, R. (2016). Mutual Fund Industry in India: A Study of Investment Behaviour.
Springer.
• Joshi, P.C. (2017). Online Trading: How to Trade Online for Beginners. Createspace
Independent Publishing Platform.
• Bodie, Z., Kane, A., & Marcus, A. J. (2018). Investments. McGraw-Hill Education.
• Fabozzi, F. J., Neave, E. H., & Zhou, G. (2019). Investments: analysis and behavior.
Cengage Learning.
• Kapoor, J. R., Dlabay, L. R., & Hughes, R. J. (2017). Personal finance. McGraw-Hill
Education

Class room lecture, Numerical Problem solving, Case study discussion, Class presentation
on the assigned topic by students individually or in group, Workshop, Tutorials, Role play.

Key Words
Investments, Indian Securities Market, Initial Public Offer (IPO), Online Security Trading, and
Investing in Mutual Funds.
21
GE5: ESSENTIALS OF FINANCIAL INVESTMENTS
Practice

ESSENTIALS OF
FINANCIAL
INVESTMENTS
Course Objectives:
• Tofamiliarizestudentswiththeessentialconceptsandfundamentalsoffinancialinvestments
.
• To
enablestudentstounderstandandmakeinformedchoiceaboutthevariousavailablefinancial
investment alternatives.
Learning Outcomes:
• Understand the fundamentals of financial investments and the investment decision

process.
• Able to compute various measures of risk and return, and understand their role for
evaluating investments.
• Understand basic approaches to valuation of securities and carry out portfolio analysis.
Course Contents
Objectives or Features of Investment, Risk Return Trade Off, Investment Environment –
Overview of Securities Market and Different Types of Financial Investment. Investment
Decision Process, Direct Investing Vs Indirect Investing, Approaches to Investing – Active Vs
Passive. Diversification, Hedging and Arbitrage.
Annualized Return, Risk-Adjusted Return. Causes (or Sources) and Types of Risk – Systematic
and Unsystematic Risk, Components of Systematic and Unsystematic Risk, Calculation of
22
Total, Systematic and Unsystematic Risk. Impact of Taxes and Inflation on Investment –
Computation of Post Tax and Real Returns.
Valuation of Fixed Income Securities – Bond Fundamentals, Types of Bonds, Bond Valuation.
Portfolio Analysis – Portfolio Management Process, Portfolio Analysis – Markowitz Model,
Portfolio Risk, Portfolio Return.
Essential Readings:
1. Tripathi, V. (n.d.). Security Analysis and Portfolio Management. Taxmann Publications.
2. Chandra, P. (n.d.). Investment Analysis and Portfolio Management. McGraw Hill

Education.
1. Rustagi, R. P. (n.d.). Investment Management. Sultan Chand Publications.
2. Reilly, F. K., & Brown, K. C. (n.d.). Analysis of Investments and Management of
Portfolios. Cengage India Pvt. Ltd.

Key Words: Financial Investment, Risk and Return, Fundamental Analysis, Technical
Analysis, Efficient Market Hypothesis, Portfolio Analysis, Valuation of Securities.
23
GE7: EMERGINGBANKINGANDFINANCIALSERVICES
Course title & Code Credits Credit distribution of the course Eligibility Pre-requisite of
criteria the course
Practice
GE7: EMERGING BANKING 4 3 1 NIL Class XII NIL

AND FINANCIAL SERVICES
Course Objective:
• To familiarize students with banking reforms in the last decade, conceptof neo banks, rising
issue of non-performing asset and its impact on day-to-day functioning.
• To make students
learnaboutfinancialservicessuchasLeasing,HirePurchase,CreditRating,SecuritizationandV
enture Capital Financing.
Learning Outcomes:
• Understand the Indian banking system and latest developments in this sector.
• Analyse the implications of non-performing assets in the banking sector on the economy.
• Evaluate the implications of mergers and acquisitions in the banking system and appreciate
the need for the same.
• Understanding various financial services and using the same in personal banking and non-
banking activities.
Course Contents:
Unit1 (12 Hours)An overview of the Indian Banking system;Major Banking
Reformsinthelastdecade:Paymentbanks,MonetaryPolicyCommittee,MCLRBasedLending,Inn
ovativeRemittanceServices; Issues in financial reforms and restructuring; Future agenda of
reforms: Assessing Non-Performing Assets in Indian Banking, Previous methodologies for
recovery, Impact of Gross NPAsonabank’sbottomline–
burningneedforbadbanks,FunctioningofBadBanks,Governmentbackingforbad banks-
NationalAssetReconstruction CompanyLtd.(NARCL).
Unit 2 (12
Hours)Introductiontoneobanks,Functionsofneobanks,OperatingModelofneobanks,Regulatory
requirements for setting up and running neobanks, Emerging need for neobanks, neo banks
vstraditionalbanks.Merger&Acquisition:Introduction,Benefitsofmergers,Synergiesaccruingou
24
tofmergers, Regulatory mechanisms surrounding M&A in banking, Case-studies of recent
bankingmergersandrelated outcomes.
Unit 3 (12
Hours)Leasing and Hire Purchase: Concepts of leasing, types of leasing – financial &
operating lease,
directleaseandsales&leaseback,advantagesandlimitationsofleasing,Leaserentaldetermination;
Financelease evaluation problems Lessee’s angle (PV and IRR methods) and Lessor’s
perspective, HirePurchase interest &Instalment, difference between Hire Purchase & Leasing,
Choice criteria betweenLeasingand Hire Purchase,mathematics of HP.
Unit 4 (9 Hours)Venture Capital: Concept, history and evolution of VC, the venture
investment process, various
stepsinventurefinancing,incubationfinancing.CreditRatings:Introduction,typesofcreditrating,a
dvantagesanddisadvantagesofcreditratings,Creditratingagenciesandtheirmethodology,Internati
onal credit rating practices. Securitization: Concept and Process, Credit Enhancement partiesto
a Securitization Transaction, Instruments of Securitization, Types of Securities, Securitization
inIndia.
Essential Readings:
1. Pathak,B. (2018). IndianFinancialSystem. Pearson Publication. (5thed).
2. Khan,M.Y.(2017).Financialservices.McGrawHill Education. (6thed).
3. Machiraju,H.R.(2002).IndianFinancial System.VikasPublicationHouse. (5thed).
AdditionalReadings:
1. Verma, J.
(1996).Bharat’smanualofmerchantbanking:Concept,practicesandprocedureswith
SEBIclarifications, guidelines,rules andregulations. BharatLawHouse.
2. Sriram K. HandBookofLeasing,HirePurchase&Factoring. Institute of Chartered Financial
Analysts of India.
3. Wright M., Watkins T. &Ennew C. (2016). MarketingofFinancialServices. Routledge

Classroomlecture,NumericalProblemsolving,Casestudydiscussion,Classpresentationonthe
assigned topic bystudentsindividuallyorin group,Workshop, Tutorials, Role play.

Key Words
Banking,MergerandAcquisition,Neobanks,NPA,Leasing,HirePurchase,CreditRatings,Securiti
zation,Venture Capital.
25
GE9: ECONOMIC LEGISLATION
Practice

ECONOMIC
LEGISLATION
• To familiarise students with various legislations in the areas of foreign trade,

competition, bankruptcy and economic offences.
• To provide an overview of detailed provisions of various economic legislation.
• To enable students to understand the legal implications of unlawful practices and legal
recourse available.
Learning Outcomes:
• Understand the legal framework relating to foreign exchange, competition, insolvency
and fugitive economic offenders.
• Recognise the legal issues in any business transaction and understand lawful way of
conduct of economic activities.
• Analyse the legal implications of any economic decision.
• Evaluate legal remedies available in case of bankruptcy or any wrongdoing.
Course Contents:
Unit 1: Competition Act and Fugitive Economic Offenders Act (15 Hours)
The Competition Act, 2002: Introduction, Prohibition of certain agreements, abuse of dominant
position and regulation of combinations, Competition Commission of India, Duties, Powers
and Functions of Commission, Penalties, Appellate Tribunal.
Unit 2: The Insolvency and Bankruptcy Code (9 Hours)
The Insolvency and Bankruptcy Code, 2016: Introduction of Insolvency and bankruptcy code,
Corporate Insolvency Resolution Process, Liquidation Process, Fast Track Insolvency
26
Authority for Corporate Persons, Offences and Penalties, Insolvency resolution and bankruptcy
for individuals and partnership firms, Regulation of Insolvency professionals, agencies and
information utilities.
Unit 3: The Prevention of Money Laundering Act (12 Hours)
The prevention of money laundering Act, 2002:Introduction and definitions, Punishment for
Unit 4: The Foreign Exchange Management Act (9 Hours)
The Foreign Exchange Management Act, 1999:Introduction of FEMA, Difference between
Essential Readings:
1. Maheshwari & Maheshwari. Principle of Business Law. Himalaya Publishing House
2. Aggarwal R. (2014). Mercantile & Commercial Law. Taxmann Publications
3. Kucchal M. &Kuchhal V. (2018). Mercantile Law. Vikas Publishing House (P) Ltd.
4. Kapoor N. D. (2018). Elements of Mercantile Law. Sultan Chand Publications
Lecture, Discussion, Power Point Presentations. Course contents shall be discussed in the light
of relevant case laws.
Key Words
CCI, Prevention of Money Laundering, Insolvency and Bankruptcy Code, FEMA, Fugitive
Economic Offenders Act.
27
Appendix-61
Resolution No. 14-1 (14-1-9)
INDEX
Faculty of Applied Social Sciences & Humanities
Bachelor of Business Administration (Financial Investment Analysis) - BBA (FIA)
S.No. Contents Page No.
SEMESTER-IV
BBA (FIA)– DSCs
1 1. Basics of Econometrics – DSC 10
2. Investment Analysis and Portfolio Management – DSC 11
3. Income Tax Law & Practice– DSC 12
Pool of Discipline Specific Electives (DSEs)
2-25
1. Strategic Corporate Finance
2. Corporate Analysis & Valuation
3. Entrepreneurial Finance
4. Wealth Management
Pool of Generic Elective
1. Financial Management of Family Business
2. Fundamentals of Econometrics
3. Personal Finance
4. Working Capital Management
2 SEMESTER-V
BBA (FIA)– DSCs
1. Financial Derivatives – DSC 13
2. Corporate Restructuring – DSC 14
3. Business Environment and Policy – DSC 15
Pool of Discipline Specific Electives (DSEs)
1. Project Appraisal and Financing
2. Digital Finance 26-59
3. Microfinance
4. Management of Financial Institutions
5. Insurance Management
6. International Financial Architecture
1. Fundamentals of Financial Management
2. Fundamentals of Stock Trading
3. Essentials of Financial Investments
4. Emerging Banking and Financial Services
5. Economic Legislation
3 Semester-VI
BBA (FIA)– DSCs
1. International Finance – DSC 16
2. Corporate Ethics – DSC 17
3. Financial Services – DSC 18
Pool of Discipline Specific Electives (DSEs) 60-81
1. Strategic Corporate Finance
2. Corporate Analysis & Valuation
3. Financial Econometrics
4. Marketing of Financial Services
5. Entrepreneurial Finance
6. Wealth Management
The Pool of Generic Electives offered in Semester-IV will also
be open for Semester-VI
1
SEMESTER-IV
DISCIPLINE SPECIFIC CORE (DSC) COURSES
DSC 10: BASICS OF ECONOMETRICS

Lecture Tutorial Practical/ criteria of the course
Practice (if any)
Basics of Econometrics 4 3 1 0 Class XII Basic
DSC-10 knowledge
of statistics
Course Objective:
• The primary objective of econometrics is to apply statistical methods to economic data.
• To learn estimation and diagnostic testing of simple, multiple regression models,
panel data models, and dummy variable regression with qualitative response
regression models.
• Students will learn various econometric techniques such as regression analysis, panel
data analysis, and instrumental variable estimation.
• They will also gain basic knowledge in using statistical software packages like Stata,
R, or Python to perform econometric analysis.
Learning Outcomes:
• Understanding the fundamental concepts of econometrics:
• Understanding the assumptions and limitations of regression analysis:
• Understand basic econometrics and its assumptions and impact of violations of
classical assumptions. They should be able to assess the violation of these assumptions
and understand the implications for the validity of the results.
• Students should be able to interpret regression results accurately. They should also
understand how to assess model fit, using measures like R-squared and adjusted R-
squared.
• Understand models using dummy variable and qualitative response regression models.
Unit 1: (12 hours)

Introduction to Econometrics and an overview of its applications; Simple Regression with
Classical Assumptions; Least Square Estimation and BLUE, Properties of estimators, Multiple
2
Regression Model and Hypothesis Testing Related to Parameters – Simple and Joint.
Functional forms of regression models.
Unit 2: (12 hours)
Violations of Classical Assumptions: multicollinearity, heteroscedasticity, autocorrelation and
model specification errors, their identification, their impact on parameters; tests related to
parameters and impact on the reliability and the validity of inferences in case of violations of
Assumptions; methods to take care of violations of assumptions.
Unit 3: (9 hours)
What is goodness of fit? Test/Statistics used for the goodness of fit. Understanding of R Square,
Adjusted R Square, Standard Error of the model, AIC, BIC and SIC. Calculation and
comparison of AIC, BIC, SIC. Explain the model selection process.
Unit 4: (12 hours)
Dummy variables: Intercept dummy variables, slope dummy variables, Interactive dummy
variables, Use of Dummy Variables to model qualitative/Binary/Structural changes, Other
Functional Forms, Qualitative Response Regression Models
Recommended Computer Package to be Used: Use of software like E Views, R and

STATA solving real life problems and checking assumptions and taking care of
assumptions violations and testing goodness of fit.
Essential Readings:
1. Dougherty, C. (n.d.). Introduction to Econometrics. Oxford University Press.
2. Gujarati, N. D. (n.d.). Basic Econometrics. New Delhi: McGraw Hill.
3. Gujarati, N. D. (n.d.). Econometrics by Examples. New Delhi: McGraw Hill.
1. Pindyck, R. S., & Rubinfeld, D. L. (n.d.). Econometric Models and Economic Forecasts.
2. Ramanathan, R. (2002). Introductory Econometrics with Applications. Thomson South
Western.

3
DSC 11: INVESTMENT ANALYSIS & PORTFOLIO MANAGEMENT
Practice (if any)
Investment Analysis and 4 3 1 0 Class XII Financial
Management
Portfolio Management and Statistics
DSC-11
Course Objectives
• To provide a conceptual framework for analysis from an investor’s perspective of
maximizing return on investment
• To provide a sound theoretical base with examples and references related to the
Indian financial system.
• To emphasize on understanding of the forces that influence the risk and return of
financial assets and related models and theories.
Learning Outcomes
• Understand the concepts of risk and return, bonds and their valuation, technical and
fundamental analysis, asset pricing and risk return of portfolio.
• Understand the process of calculating risk and return, pricing of bonds along with
duration, valuation of shares along with trading strategies and portfolio risk and
return, pricing research reports and advice of financial firms and brokers.
• Evaluate the best measures of risk and return, bond prices and sensitivity based on
other variables, share valuation models and techniques of arriving at portfolio risk and
return.
• Analyse the outcomes of evaluation to choose the best return risk asset, change in
bond price based on changes in interest rate etc., execute buy and sell transactions
based on fundamentals and trends in the respective asset and compare the risk return
ratios of various assets and portfolios so as to choose the optimal portfolio.
• Create trading and investment strategies for maximising returns in the financial
markets and also create a portfolio of investments to achieve the best risk return trade-
off.
Course Contents:
Unit 1: Risk–Return Analysis, Bond Valuation & Fundamental Analysis (12 hours)
Basics of risk and return: concept of returns, application of standard deviation, coefficient of
variation, beta, alpha. Bonds: present value of a bond, yield to maturity, yield to call, yield to
put, systematic risk, price risk, interest rate risk, default risk. Fundamental analysis: EIC
framework; Economic analysis: Leading lagging & coincident macro-economic indicators,
4
Expected direction of movement of stock prices with macroeconomic variables in the Indian
context; Industry analysis: stages of life cycle, SWOT analysis, Company analysis.
Unit 2: Share Valuation & Technical Analysis (12 hours)
Share valuation: Dividend discount models – no growth, constant growth, and two stage growth
model. Relative valuation models using P/E ratio, other ratios. Technical analysis: meaning,
assumptions, difference between technical and fundamental analysis; Price indicators – Dow
theory, advances and declines, new highs and lows, circuit filters. Volume indicators – Dow
Theory, small investor volumes. Other indicators – institutional activity, Trends: resistance,
support. Technical charts & patterns. Indicators: moving averages.
Unit 3: Portfolio Analysis and Management (12 hours)
Portfolio analysis: portfolio risk and return, Markowitz portfolio model: risk and return for 2
and 3 asset portfolios, concept of efficient frontier & optimum portfolio. Market Model:
concept of beta, systematic and unsystematic risk. Investor risk and return preferences:
Indifference curves and the efficient frontier, Traditional portfolio management for individuals:
Objectives, constraints, time horizon, current wealth, tax considerations, liquidity
requirements, and anticipated inflation. Asset allocation: Asset allocation pyramid, investor
life cycle approach. Portfolio management services: Passive – Index funds, systematic
investment plans. Active – market timing, style investing.
Unit 4: Asset Pricing Models and Mutual Funds (9 hours)
Capital asset pricing model (CAPM): Efficient frontier with a combination of risky and risk-
free assets. Assumptions of single period classical CAPM model. Expected return, required
return, overvalued and undervalued assets as per CAPM. Multiple factor models: Arbitrage
Pricing Theory (APT), APT vs CAPM. Mutual Funds: Introduction, classification of mutual
fund schemes by structure and objective, advantages and disadvantages of investing through
mutual funds. Performance Evaluation of Managed Funds using Sharpe’s, Treynor’s and
Jensen’s measures.
Essential/recommended Readings
1. Reilly, F. K. & Brown, K.C. (2012) Analysis of Investments and Management of
Portfolios, (12th edition), Cengage India Pvt. Ltd.
2. Singh, R (2017): Security Analysis and Portfolio Management, (2nd Edition). Excel
Books.
3. Kane, A., Marcus, A., & Bodie, Z. (2014). Investments Global Edition. Pearson.
Suggestive Readings
1. Fischer, D.E. & Jordan, R.J. (2006) Security Analysis & Portfolio Management, (6th
edition), Pearson Education.
2. Ranganathan, M., & Madhumathi, R. (2006). Investment Analysis and Portfolio
Management. Pearson Education.

5
DSC 12: INCOME TAX LAW & PRACTICE
Practice (if any)
Income Tax Law & 4 3 0 1 Class XII NA
Practice
DSC-12
Course Contents:
Unit 1: Basic Concepts (12 hours)
Origin of Tax System in India; Taxation – Voluntary practice to involuntary system, Kautilya’s
philosophy of Taxation;
Income, person, assessee, assessment year, previous year, gross total income, total income.
Residential status of individual person and its effect on tax incidence.
Unit 2: Computation of Income (21 hours)
Salaries, Income from house property, Profits and gains of business or profession (Only
theory), Capital gain, Income from other sources.
Unit 3: Clubbing, Setoff and Deductions (6 hours)
Clubbing of income (Only theory), set-off and carry forward of losses (Only theory),
Deductions under Chapter VI-A, rebates and reliefs,
Unit 4: Total Income & Tax Liability (6 hours)
Computation of total income and tax liability of individuals. E filing of income tax by
individuals (Practical).
Essential Readings:
• Singhania V. and Singhania, M., Students Guide to Income Tax, Taxman Publications.
• Ahuja, G. and Gupta, R., Systematic Approach to Income Tax: Bharat Law House.
• Chandra, M. and Shukla, D.C., Income Tax Law and Practice: Pragati Publications.

6
DSE 1: STRATEGIC CORPORATE FINANCE

Practice (if any)
Strategic Corporate 4 3 1 0 Class XII Basic of
Finance Finance
DSE-1
Course Objectives:
• To know the details of corporate finance and the strategies involved in the corporate
decisions.
• To enable the students to steer the corporate strategies issues and challenges in better
manner.
• To provide the key concepts and ideas of decision tree analysis and the Black-Scholes
model in the valuation of real options.
• To assess the considerations and strategies involved in company disposals, including
non-core subsidiary sales, valuation, timing, and tax planning.
Learning Outcomes:
After studying this course the learners will be able to:
• Understand the role of strategy and planning in financial decisions
• Understand the importance and components of a Value Added Statement.
• Identify different types of strategic costing and their relevance.
• Discuss strategic cost reduction techniques.
• Determine the feasibility of a management buy-out.
• Develop a business plan and financial forecasts for submission to potential funders.
• Define bankruptcy and Identify factors leading to bankruptcy.
• Understand the process of reorganizing distressed firms and liquidation process of
firms
• Gain an overview of company valuation.
• Analyze the substitutability of capital structure.
Course Contents:
Unit 1 (12 hours)
Introduction to strategic corporate finance: Strategy Vs Planning, significance of strategy in
financial decisions, Different types of financial strategy for Shareholders Wealth
Maximization, Economic Value Addition, Value added statement. Strategic Cost Management:
7
Traditional costing Vs Strategic Costing, Relevant costs Vs Irrelevant costs, Different types of
strategic costing and their relevance- Target Costing, Activity based Costing, Life Cycle
Costing, Quality Costing, Zero Based Budgeting, Strategic cost reduction techniques and value
chain analysis.
Unit 2 (12 hours)
Management Buy-outs: Establishing feasibility of the buy-out, Negotiating the main terms of
the transaction with the vendor including price and structure, Developing the business plan and
financial forecasts in conjunction with the buy-out team for submission to potential funders.
Management Buy-ins: Management Buy-in/Buy-outs (“BIMBOs”), Vendor-initiated
buyouts/buy-ins.
Real options: Financial and real options compared, various types of real options, the Black
Scholes model, Decision tree analysis, application of Real options, Drawbacks of Real options.
Unit 3 (12 hours)
Financial Distress and restructuring: Meaning of Bankruptcy, Factors leading to bankruptcy,
symptoms and predictions of bankruptcy, reorganization of distressed firms, liquidation of
firms.
Company disposals: sale of a non-core subsidiary, Exit strategy, valuation, timing of sale and
tax planning opportunities and calculation of the various tax implications.
Fundraising: identification of different sources of development capital, determination of capital
structure and factors affecting the capital structure, cost of capital and cost saving strategy.
Unit 4 (9 hours)
Company Valuation: an overview of valuation, valuation principles and practices, the impact
of “what if” scenarios. Other strategic issues: managing credit ratings, dividend and share
repurchase policy. Strategic risk management, substitutability of capital structure, risk
management choices, financial, physical and operational hedging.
Essential Readings:
1. Pettit, J., Strategic Corporate Finance Applications in Valuation and Capital Structure,
John willey & sons, Inc.
2. Damodaran, A, Corporate finance theory and practice, John willey & sons.
1. Jakhotia, Strategic Financial Management, Vikas Publication.
2. Damodaran, A., Applied Corporate Finance, John willey & sons.

8
DSE 2: CORPORATE ANALYSIS & VALUATION
Practice (if any)
Corporate Analysis & 4 3 1 0 Class XII Basic of
Valuation accounting
DSE-2
Objective:
• To enable the learners to analyse the health of a company through their annual reports
and will equip them to understand how to determines its value.
Learning Outcomes:
After studying this course the learner will be able to understand:
• The financial health of a company through qualitative and quantitative analysis.
• The basic of valuation and Cash Flows Forecasting.
• The various valuation techniques for company’s valuation and their application.
Course Contents
Unit 1: Analysis of Corporate Financial Statements (12 hours)
Analysis of Corporate Financial Statements: Income statements and Balance sheets through
ratio analysis and analysing the Chairman’s statement, Directors’ report, management
discussion & analysis, report on corporate governance, auditor’s report to evaluate the financial
soundness of the company. Understanding financial statements of manufacturing and service
organisations. Common size analysis and relevant ratios (Study from the Annual Reports of
the companies).
Unit 2: Introduction to Valuation Techniques & Cash Flows Forecasting (12 hours)
Introduction to Valuation: Value and price, Balance sheet-based methods, Income statement-
based methods. Cash flow discounting-based methods. Deciding the appropriate cash flow for
discounting, The free cash flow to the firm, free cash flow to equity. Forecasting Cash flows:
simple model for forecasting income and cashflows. Earnings, Tax effect, Reinvestment needs,
dividend.
Unit 3. DCF Valuation, Discount Rates & Beta (12 hours)
Discounted Cash flow Valuation: Valuation of a company with no growth, constant growth,
variable growth and infinite life. Estimating Discount Rates – cost of equity, cost of debt, tax
shield, weighted average cost of capital. Calculation of beta, instability of beta, adjusted beta,
levered and unlevered beta.
Unit 4: Relative Valuation & Other Applications (9 hours)
9
Relative Valuation: standard multiples, comparable companies, potential pitfalls; estimating
multiples using regression. Valuation of brands and intellectual capital. Interest rates and
company valuation. Impact of inflation on valuation. Reconciling relative and discounted cash
flow valuation. Case studies in valuation.
Essential Readings:
1. Damodaran, A. (2016). Damodaran on Valuation: Security Analysis for Investment and
Corporate Finance. John Wiley & Sons.
2. Chandra, P. (2019). Corporate Valuation and Value Creation. Tata McGraw-Hill.
Education.
1. Foster, G. (1986). Financial Statement Analysis. Prentice Hall.
Latest Editions of the Readings may be used.

10
DSE 10: ENTREPRENEURIAL FINANCE
Lecture Tutorial Practical/ criteria the course
Practice (if any)
Entrepreneurial 4 3 1 0 Class XII Basic
Finance understanding of
DSE-10 concepts related
Entrepreneurship
Course Objectives:

• To develop an understanding of the principles of entrepreneurial finance and the role
of finance in the successful venture life cycle.
• To identify and analyze the key elements of a business plan and choose an appropriate
form of business organization for the venture.
• To apply short-term and long-term financial planning techniques to forecast sales,
estimate sustainable growth rates, and determine additional financing needs to support
growth.
• To analyze different valuation methods, including discounted cash flow and venture
capital valuation, and apply them to value early-stage ventures and venture capital
investments.
• To evaluate different financing alternatives, including professional venture capital,
business incubators, seed accelerators, and foreign investor funding sources, and
design appropriate security structures for growing ventures, such as common stock,
preferred stock, convertible debt, and warrants/options.
Learning Outcomes:
Upon completion of the course the learner will be competent to:
• Apply the principles of entrepreneurial finance and understand the role it plays in the
successful venture life cycle, including the key elements of a business plan and forms
of business organizations.
• Develop short-term and long-term financial plans using systematic forecasting
techniques and estimate sustainable sales growth rates and additional financing
needed to support growth.
• Evaluate early-stage ventures using different valuation methods, including present
value, discounted cash flow, and venture capital valuation techniques.
• Compare and analyze different financing alternatives, including professional venture
capital, business incubators, seed accelerators, and foreign investor funding sources,
and design appropriate security structures for growing ventures.
11
Adopt a life cycle approach for entrepreneurial finance and understand financial
bootstrapping and business angel funding as alternative financing options for the different
stages of the venture life cycle.
Course Contents
Unit I: Introduction to Finance for Entrepreneurs (9 hours)
Principles of Entrepreneurial Finance, Role of Entrepreneurial Finance. The Successful
Venture Life Cycle. Key Elements of a Business Plan. Forms of Business Organisations and
Choosing the Appropriated Organization. Financing through the Venture Life Cycle, Financial
Bootstrapping and Business Angel Funding. Life Cycle Approach for Entrepreneurial Finance.
Unit 2: Financial Planning for Enterprises (12 hours)
Short Term Financial Planning: Short Term Cash Planning Tools, Cash Planning from a
Projected Monthly Balance Sheet. Long Term Financial Planning: Systematic Forecasting –
Forecasting Sales for Seasoned Firms, Forecasting Sales for Early-Stage Ventures. Estimating
Sustainable Sales Growth Rates. Estimating Additional Financing needed to support Growth.
Unit 3: Valuing Ventures (12 hours)
Valuing Early-Stage Ventures: Concept, Basic Mechanics of Valuation – Present Value
Concept, Estimates and Discounted Cash Flow. Just in Time Equity Valuation. Venture Capital
Valuation Methods: Review of Basic Cash Flow Based Equity Valuations, Basic Venture
Capital Valuation – Using Present Values and Future Values. Earning Multipliers and
Discounted Dividends.
Unit 4: Structuring Financing for Growing Venture (12 hours)

Professional Venture Capital – History and Overview, Professional Venture Investing Cycle.
Other Financing Alternatives – Business Incubators and Seed Accelerators; Intermediaries,
Facilitators and Consultants; Business Crowdsourcing and Crowdfunding; Commercial and
Venture Bank Lending, Foreign Investor Funding Sources. Designing Security Structures –
Common Stock, Preferred Stock, Convertible Debt, Warrants and Options, Other Concerns.
Essential Readings
1. Leach, C. J., Melicher, R. W. (2017). Entrepreneurial finance. Cengage Learning.
2. Stancill, J. M. (2016). Entrepreneurial finance: A casebook. Thomson.
3. Shepherd, D. A., & Zacharakis, A. (2014). Entrepreneurial finance: Strategy, valuation,
and deal structure. Academic Press.
1. Hornsby, J. S., Kuratko, D. F., & Zahra, S. A. (2002). Middle managers' perception of
the internal environment for corporate entrepreneurship: assessing a measurement scale.
Journal of business venturing, 17(3), 253-273.
2. Sahlman, W. A. (1990). The structure and governance of venture-capital organizations.
Journal of financial economics, 27(2), 473-521.
12
3. Hsu, D. H. (2004). What do entrepreneurs pay for venture capital affiliation? Journal of
finance, 59(4), 1805-1844.

13
DSE 12: WEALTH MANAGEMENT
Practice (if any)
Wealth Management 4 3 1 0 Class XII NA
DSE-12
Course Objectives:
• To equip students with the knowledge and practical understanding of important

dimensions of wealth management.
• To understand and do planning for their tax liabilities, investments, insurance coverage,
retirement and estate needs.
Learning Outcomes:
After the completion of this course the student will be able:
 To provide an overview of various aspects related to wealth management.
 To acquaint the learners with issues related to taxation in wealth management.
 To study the relevance and importance of insurance in wealth management.
 To understand the importance and process of choosing right investments.
 To understand various components of retirement and estate planning.
Course Contents
Unit I: Basics of Wealth Management and Tax Planning (12 hours)
Introduction to Wealth Management, Need for Wealth Management, Components of Wealth
Management, Process of Wealth Management, Code of Ethics for Wealth Managers, Wealth
Management in India. Tax Planning – Tax Avoidance versus Tax Evasion, Fundamental
Objectives of Tax Planning, Tax Structure in India for Individuals, Common Tax Planning
Strategies – Maximizing Deductions, Income Shifting, Tax-Free and Tax-Deferred Income.
Unit 2: Managing Insurance Needs (12 hours)
Insurance, evaluating need for Life Insurance, Determining the Right Amount of Life
Insurance. Choosing the Right Life Insurance Policy – Term Life Insurance, Whole Life
Insurance, Universal Life Insurance, Variable Life Insurance, Group Life Insurance, Other
Special Purpose Life Policies. Buying Life Insurance – Compare Costs and Features, Select an
Insurance Company, and Choose an Agent. Life Insurance Contract Features. Insuring Health
– Importance of Health Insurance Coverage. Making Health Insurance Decision – Evaluate
Your Health Care Cost Risk, Determine Available Coverage and Resources, Choose a Health
Insurance Plan. Types of Medical Expense Coverage. Policy Provisions of Medical Expense
14
Plans. Property Insurance – Basic Principles, Types of Exposure, Principle of Indemnity, and
Coinsurance.
Unit 3: Managing Investments (12 hours)
Role of Investing in Personal Financial Planning, Identifying the Investment Objectives,
Different Investment Choices. The Risks of Investing, The Returns from Investing, The Risk-
Return Trade-off. Managing Your Investment Holdings – Building a Portfolio of Securities,
Asset Allocation and Portfolio Management, Keeping Track of Investments. Investing in
Equity – Common Considerations, Key Measures of Performance, Types of Equity Stocks,
Market Globalization and Foreign Stock, Making the Investment Decision. Investing in Bonds
– Benefits of Investing in Bonds, Bonds Versus Stocks, Basic Issue Characteristics, The Bond
Market, Bond Ratings. Investing in Mutual Funds and Exchange Traded Funds (ETFs) –
Concept of Mutual Funds and ETFs, Benefits of Investing in Mutual Funds or ETFs, Some
Important Cost Considerations, Services Offered by Mutual Funds, Selecting appropriate
Mutual Fund and ETF investments, Evaluating the performance of Mutual Funds and ETF.
Unit 4: Retirement Planning and Estate Planning (9 hours)

Retirement Planning – Role of Retirement Planning in Personal Financial Planning, Pitfalls to
Estate Planning – Fundamentals of Estate Planning, Impact of Property Ownership and
Beneficiary Designations, Estate Planning Documents, and Executing Basic Estate Planning.
Essential Readings:
1. Randall S. Billingsley, Lawrence J. Gitman, and Michael D. Joehnk (2017): Personal
Financial Planning. Cengage Learning.
2. Susan M. Tillery, and Thomas N. Tillery: Essentials of Personal Financial Planning.
Association of International Certified Professional Accountants.
1. Indian Institute of Banking & Finance. (2017). Introduction to Financial Planning (4th
Edition).
2. Sinha, M. Financial Planning: A Ready Reckoner. July 2017. Mc Graw Hill.

15
GE 2: FINANCIAL MANAGEMENT OF FAMILY BUSINESS
Practice (if any)
Financial Management 4 3 1 0 Class XII NA
of Family Business
GE-2
Course Objectives:
• To familiarize students with various financial and quantitative techniques of analysis

required at different stages for management of family business.
• To acquaint the students with qualitative aspects related to starting a new venture and
various options for financing.
Learning Outcomes:
On successful completion of his course, the learner will be able to:

• Understand the process of screening of ideas and carrying out appraisal of new venture
• Learn various quantitative methods for demand forecasting and financial projections
• Evaluate projects using capital budgeting techniques
• Evaluate risk for business projects and identify alternative sources of financing
Course Contents
Unit 1: Capital Investments & Starting a Venture (9 hours)
Capital investments importance and difficulties, types of capital investments, phases of capital
budgeting, levels of decision making, facets of project analysis, key issues in major investment
decisions. Generation of ideas, monitoring the environment, corporate appraisal, tools for
identifying investment opportunities, scouting for project ideas, preliminary screening, project
rating index, sources of positive net present value.
Unit 2: Demand Forecasting & Financial Projections (12 hours)

Methods of demand forecasting: qualitative methods – jury of executive and Delphi method.
Time series projection methods: trend projection, exponential smoothing and moving average
method. Causal methods: chain ratio, consumption level, end use, bass diffusion, leading
indicator and econometric method. Uncertainties in demand forecasting, improving forecasts,
coping with uncertainties.
16
Financial estimates and projections: cost of project, estimates of sales and production, cost of
production, working capital requirement and its financing, profitability projections, projected
cash flow statement, projected balance sheet and multi-year projections.
Unit 3: Capital Budgeting & Project Selection (12 hours)

Project appraisal: market appraisal, technical appraisal, financial appraisal, economic
appraisal, and managerial appraisal. Project cash flows: components of cash flow, basic
principles of cash flow estimation, cash flows for a replacement project. Biases in cash flow
estimation: overestimation and underestimation of profitability. Time value of money: concept,
present and future value of a single amount, present and future value of an annuity. Investment
evaluation criteria: payback period, accounting rate of return, net present value, profitability
index, internal rate of return (IRR), modified internal rate of return (MIRR). Assessment of
various methods, investment evaluation in practice.
Unit 4: Risk Analysis and Financing (12 hours)

Risk Analysis: sources and measures of risk. methods of assessing risk: sensitivity analysis,
scenario analysis, break-even analysis, simulation analysis, decision tree analysis. Managing
risk. Project selection under risk – judgmental evaluation, payback period requirement, risk
adjusted discount rate method, certainty equivalent method. Risk analysis in practice.
Financing: capital structure, choices of financing, internal accruals, equity capital, preference
capital, debentures (or bonds), term loans, raising capital in international markets, venture
capital, private equity, venture capital vs private equity. Credit rating and appraisal by financial
institutions – what information they want and how they appraise.
Essential Readings:
1. Chandra, P, Projects – Planning, Analysis, Selection, Financing, Implementation, and
2. Agrawal, R., & Mehra, Y. S. (2017). Project Appraisal and Management. Taxmann
Publications.
Essential Readings:
1. Chandra, P. (2019). Projects: planning, analysis, selection, financing, implementation,
and review. Mcgraw Hill Education (India) Private Limited.
2. Agarwal, R, & Mehra, Y. (2021). Project Appraisal and Management. Taxmann
Publications.
1. Goodpasture, C. J (2004): Quantitative Methods in Project Management. J. Ross
Publishing.
2. Chandra, P. (2019). Financial management : theory and practice. Tata Mcgraw-Hill Pub.
17
GE4: FUNDAMENTALS OF ECONOMETRICS
18
Practice (if any)
Fundamentals of 4 3 1 0 Class XII Basics of
Econometrics statistics
GE-4
Course Objectives:
• Understanding the role of econometrics: Students should grasp the link between
economic theory, data, and econometric methods.
• Understanding and addressing regression assumptions.
• Introduction to econometric modelling.
• Students would be introduced to use of statistical software packages like Stata, R, or
Python to perform econometric analysis.
Learning Outcomes:
The course will help the student to:
• Students should be able to demonstrate a clear understanding of key concepts in
econometrics, such as causality, heteroscedasticity, autocorrelation, and
multicollinearity.
• Students should be able to assess the violation of these assumptions and understand the
implications for the validity of the results.
• Students should be able to interpret regression results accurately. They should also
understand how to assess model fit, using measures like R-squared and adjusted R-
squared.
• Analysing and interpreting dummy variables and interaction terms: Students should be
able to incorporate categorical variables, including binary variables (dummy variables)
and interaction terms, into regression models.
Unit 1 (9 Hours)
Introduction to Econometrics and an overview of its applications; Simple Regression with
Classical Assumptions; Least Square Estimation and BLUE, Properties of estimators, Multiple
Regression Model and Hypothesis Testing Related to Parameters – Simple and Joint.
Functional forms of regression models.
Unit 2 (12 Hours)
Violations of Classical Assumptions: multicollinearity, heteroscedasticity, autocorrelation, and
model specification errors, their identification, their impact on parameters; tests related to
parameters and impact on the reliability and the validity of inferences in case of violations of
Assumptions; methods to take care of violations of assumptions.
19
Unit 3 (12 Hours)
Understanding the impact of change in scale of variables on output. Understanding and
calculation of information criteria for model selection: AIC, BIC, and HQC. Understanding
and calculation of R Square and adjusted R Square. Understanding of outliers and their impact
on the model’s output.
Unit 4 (12 Hours)
Dummy variables: Intercept dummy variables, slope dummy variables, Interactive dummy
variables, Use of Dummy Variables to model qualitative/Binary/Structural changes, Other
Functional Forms, Qualitative Response Regression Models.
Recommendation Computer Package to be Used: Use of softwares like E-Views, R, and STATA
to solve real-life problems and check assumptions, taking care of assumption violations, and
test goodness of fit.
Essential Readings:
1. Dougherty, C. (n.d.). Introduction to Econometrics. Oxford University Press.
2. Gujarati, N. D. (n.d.). Basic Econometrics. New Delhi: McGraw Hill.
3. Gujarati, N. D. (n.d.). Econometrics by Examples. New Delhi: McGraw Hill.
Additional Reading
1. Pindyck, R. S., & Rubinfeld, D. L. (n.d.). Econometric Models and Economic Forecasts.
2. Ramanathan, R. (2002). Introductory Econometrics with Applications. Thomson South
Western.

20
GE 6: PERSONAL FINANCE
Practice (if any)
Personal Finance 4 3 1 0 Class XII NA
GE-6
Course Objectives:
dimensions of managing one’s personal finance.
• To understand and plan for their tax liabilities, investments, insurance coverage, and
retirement.
Learning Outcomes:
• Understand the fundamentals of Personal Financial Planning
• Learn the basics of managing personal tax liabilities
• Learn the basic concepts and underlying principles for Retirement Planning.
• Ascertain and choose appropriate insurance policies for managing personal risks.
• Evaluate various asset classes on the basis of risk-return and personal investment goals
• Create, maintain and grow personal investment portfolio
Course Contents
Unit 1: Basics of Personal Finance and Tax Planning (12 Hours)
Understanding Personal Finance. Rewards of Sound Financial Planning. Personal Financial
Planning Process. Personal Financial Planning Life Cycle. Making Plans to Achieve Your
Financial Goals. Common Misconceptions about Financial Planning. Financial Planning as a
career choice. The Financial Planning Environment. Personal Tax Planning – Tax Avoidance
versus Tax Evasion, Fundamental Objectives of Tax Planning, Tax Structure in India for
Individuals, Common Tax Planning Strategies – Maximizing Deductions, Income Shifting,
Tax-Free and Tax-Deferred Income.
21
Unit 2: Managing Insurance Needs (12 Hours)
Coinsurance.
Unit 3: Managing Investments (12 Hours)

Unit 4: Investing in Real Estate and Retirement Planning (9 Hours)

Investing in Real Estate – Some Basic Considerations. Modes of Real Estate Investment – Raw
Land, Commercial Properties, Residential Properties, Real Estate Investment Trusts (REITs).
Planning for Retirement – Role of Retirement Planning in Personal Financial Planning, Pitfalls
to Sound Retirement Planning, Estimating Income Needs, Sources of Retirement Income.
22
Essential Readings:
1. Billingsley R., Gitman L., & Joehnk M. (2017). Personal Financial Planning. Cengage
Learning.
2. Tillery S., & Thomas N. Tillery. (2017). Essentials of Personal Financial Planning.
1. Indian Institute of Banking & Finance. (2017). Introduction to Financial Planning (4th ed.).
2. Sinha, M. (2017). Financial Planning: A Ready Reckoner. Mc Graw Hill.

23
GE 8: WORKING CAPITAL MANAGEMENT
Practice (if any)
Working Capital 4 3 1 0 Class XII NA
Management
GE-8
● To provide understanding of the concept and importance of sound working capital

strategies of a firm.
● To have an understanding of the impact of working capital policies relating to Cash
management, inventory and receivables management on firm’s profitability.
Learning Outcomes:

● understand the concept and scope of working capital, assess and compute the working
capital requirement, and evaluate the techniques for effective management of working
capital.
● analyze the importance of cash management, evaluate the motives for holding cash and
marketable securities, and apply the strategies and techniques of cash management.
● develop and apply effective receivables management policies to optimize credit policy,
analyze creditworthiness, and minimize costs associated with managing accounts
receivable.
● analyze and apply different techniques of inventory management, including EOQ,
minimum order quantity, ABC analysis, and JIT, to minimize inventory costs while
ensuring adequate stock levels.
Course Contents:
Unit 1: Working Capital Management – Introduction (15 Hours)
Concept and Scope of Working Capital, Types of working Capital, Determinants of working
capital, Working Capital Cycle, Assessment and Computation of Working Capital
Requirement, Profitability–Liquidity trade-off, Working Capital Policies. Brief about working
capital financing.
Unit 2: Management of Cash & Marketable Securities (12 Hours)
Meaning of Cash, Motives for holding cash, objectives of cash management, factors
determining cash needs, Cash Management: basic strategies, techniques, Lock Box system and
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concentration banking. Marketable Securities: Concept, types, reasons for holding marketable
securities.
Unit 3: Management of Receivables (9 Hours)
Concept & cost of maintaining receivables, objectives of receivables management, factors
affecting size of receivables, policies for managing accounts receivables, analysis for optimum
credit policy including credit analysis, credit standards, credit period, credit terms, etc.
Unit 4: Inventory Management (9 Hours)

Inventory: Need for monitoring & control of inventories, objectives of inventory management,
Benefits of holding inventory, risks and costs associated with inventories, Techniques of
Inventory Management – EOQ, Minimum order quantity, ABC Analysis, JIT etc.
Essential Readings:
1. Bhattacharya, H. (2016). Working Capital Management: Strategies and Techniques
(4th ed.). PHI.
2. Rustagi, R.P. (2021). Working Capital Management (Reprint ed.). Taxmann..
3. Bhalla, V.K. (2011). Working Capital Management: Text And Cases. (13th ed.). Anmol
Publishing.
4. Periasamy, P. (2012). Working Capital Management: Theory & Practice. 2nd Edition.
Himalaya Publishing House.

25
SEMESTER-V
BBA (FIA)
DSC 13: FINANCIAL DERIVATIVES

Practice (if any)
Financial Derivatives 4 3 1 0 Class XII Basic
DSC-13 understanding of
financial market
Course Objectives:

• Understand the basics of spot, forwards, and futures markets, including their history and
participants, and learn about the different types of margins and valuation methods.
• Gain knowledge of currency markets and learn how to calculate bid and ask in cross-
currency pairs, and how to hedge with futures and forwards.
• Develop an understanding of options trading strategies, including spreads and
combinations, and learn how to calculate P/L in option trades.
• Learn about the factors that affect option prices and how to calculate upper and lower
bounds of call and put options with and without dividends, as well as the put-call parity
theorem.
• Study option valuation models such as the Binomial and Black-Scholes models for stocks
and currencies with and without dividends.
Learning Outcomes:
• Analyze the different types of derivatives and their features, including margins,
valuations, and convergence of spot and futures.
26
• Evaluate the currency market and the strategies involved in hedging using futures and
forwards.
• Synthesize the knowledge of options and their trading strategies, including spreads and
combinations.
• Apply the binomial and Black-Scholes models to value options with and without
dividends.
• Understand the factors affecting option prices and the put-call parity theorem.
Unit 1: Spot, Forwards and Futures (12 hours)

Introduction of Spot Market. History of derivatives and origin of derivatives in India. Margins:
VaR Margin, ELM, Maintenance margin, Delivery Margin, SPAN Margin. Convergence of
Spot and Futures. Participants of Derivatives Markets. Valuation of Forwards and Futures.
Contango and Backwardation. Hedging: Long security-sell futures, Speculation: With and
Without derivative market, Arbitrage: Buy spot-sell futures & Sell Spot-Buy futures.
Unit 2: Currency Market (12 hours)
Currency futures: understand and valuation, Quotations- direct, indirect. Calculation of Bid &
Ask in cross currency Pair. Hedging with futures: Concept of Basis & impact of change in basis
on Payment/receivables. Hedging with Forwards: Early Delivery, Early Cancelation, Early
Extension, Maturity Cancelation and Maturity Extension.
https://www.bseindia.com/downloads/Training/file/NISM-Series-
I%20Currency%20Derivatives%20(new%20workbook%20effective%2021-Feb-2012).pdf
Unit 3: Options and Trading Strategies (9 hours)
Options: Type – Call and Put &American and European, Payoffs. Calculation of P/L in Option
Trade. Factors affecting option Prices. Upper Bound and Lower Bound of Call and Put option
with and without dividend. Put - call parity theorem. Spreads (Bull, Bear, Box, Butterfly and
Calendar Spread), combinations (Straddle, Strangle, Strip, Straps).
Unit 4: Option Valuation (12 hours)
Binomial model: One Period, Two Period and multiple Period. Black-Scholes option model
(For stock and currency both) with and without dividend.
Essential Readings:
• NISM. (2012). Currency Derivatives (New Workbook Effective 21-Feb-2012). BSE
Institute Limited. https://www.bseindia.com/downloads/Training/file/NISM-Series-
I%20Currency%20Derivatives%20(new%20workbook%20effective%2021-Feb-
2012).pdf
• Hull, J. C. (2018). Options, Futures, and Other Derivatives (10th ed.). Pearson.
• Tuckman, B., & Serrat, A. (2011). Fixed Income Securities: Tools for Today's Markets (3rd
ed.). John Wiley & Sons.
27
• McDonald, R. L. (2014). Derivatives Markets (3rd ed.). Pearson.
• Bhalla, V. K., & Singh, N. (2015). Currency derivatives: A beginner's module. National
Stock Exchange of India Limited.
https://www.nseindia.com/content/ncfm/ncfm_modules.htm
• Lipton, A. (2015). Mathematical methods for foreign exchange: A financial engineer's
approach. World Scientific Publishing Co. Pte. Ltd

28
DSC 14: CORPORATE RESTRUCTURING
Practice (if any)
Corporate Restructuring 4 3 1 0 Class XII NA
DSC-14
To provide an understanding of the corporate restructuring, mergers and acquisitions with the
basic methods of valuation in methods of payment and financing options at global level.
Learning Outcomes:
• Understand the concept and importance of corporate restructuring for growth.
• Recognise opportunities for creating value through Mergers and Acquisitions.
• Illustrate and apply leading methods used in the valuation of a firm for M&A analysis.
• Learn the legal and regulatory framework of Mergers and Acquisitions.
Unit 1: Corporate Restructuring – An Overview (12 hours)

Concept and importance of corporate restructuring, various forms of restructuring: joint
ventures (types), Strategic alliance (types), Merger(types), Acquisition(types), Consolidation,
Divestiture, Demerger (Spin-off, Split-up, Split-off), Equity carve-out, Management buyout,
Leveraged buyout, Buyback of securities, ESOP.
Unit 2: Merger & Acquisition (12 hours)
Motives behind M&A, theories of M&A, process of M&A. Fast track merger. Cross border
M&A – concept, benefits & difficulties. Due diligence process.Methods of payment and
financing options in M&A.Takeover defence tactics. Reasons for failure of M&A.
Unit 3: Deal Valuation and Evaluation (15 hours)
Methods of valuation; cash flow approaches, economic value added (EVA) (with numerical),
sensitivity analysis (with numerical), Valuation for slump sale, valuation of synergy (with
numerical), cost-benefit analysis and swap ratio determination (with numerical).
Unit 4: Legal and Regulatory Framework of M&A (6 hours)
Provisions of Companies Act 2013, SEBI Takeover Code 2011, Provisions of Competition Act
2002.
29
Essential Readings:
1. Weston, F., Chung, K. S., & Siu, J. A. (n.d.). Takeovers, Restructuring, and Corporate
Governance. Pearson Education.
2. Gupta, M. (2010). Contemporary Issues in Mergers and Acquisitions. Himalaya Publishing.
3. Sundarsanam (2006). Creating Value from Mergers and Acquisitions (1st ed.). Pearson
Education.
1. Ramanujan, S. (1999). Mergers: The New Dimensions for Corporate Restructuring. McGraw
Hill.
2. Narayankar, R. (2013). Merger and Acquisitions: Corporate Restructuring, Strategy, and
Practices (2nd ed.). International Book House Pvt. Ltd.

30
DSC 15: BUSINESS ENVIRONMENT AND POLICY
Practice (if any)
Business Environment 4 3 1 0 Class XII NA
and Policy
DSC-15
• To evolve a clear understanding of impact of various macroeconomic variables (both internal
and external) on business.
• To discuss the various government policies and its impact on the business outcomes.
• To focus on the importance of economic environment and policy in decision making.
Learning Outcomes:
After studying the course the student will be able to
• Become aware and sensitive towards the overall Business environment within country
and at global level. Students will be able to:
• Understand and critically evaluate the factors affecting business environment.
• Identify business opportunities both in the country and abroad.
• Understand Economic Survey and its implications for Indian Business Environment.
• Critically evaluate the government policies related to business environment.
Unit 1 Introduction & Macroeconomic Indicators of Indian Economy:

Learning Outcomes:
• Recall the key concepts and definitions related to business environment,
macroeconomic indicators, and Sustainable Development Goals.
• Describe the types of business environment, interaction between internal and external
environments, nature and structure of the economy.
• Analyze macroeconomic indicators and assess their impact on business operations.
• Evaluate the effectiveness of government policies in addressing economic challenges.
• Evaluate the impact of technology transfers on business operations.
• Develop strategies for businesses to operate in different types of business environments.
(12 hours)
Content:
31
Introduction: Concept, Significance and Nature of Business Environment, Types of
environment, Interaction between Internal and External environments, Nature and Structure of
Economy, Techniques for Environment Analysis, Approaches and Significance of
Environment Forecasting. Social Responsibility of Business. Technological environment –
nature of technology, interface between technology and business, Management of technology
transfers. Availability of natural resources and demographic conditions in India.
Macroeconomic Indicators of Indian Economy: Inflation, interest rates, Yield on 91 days
Treasury Bills and 10 years Government Securities, changes in exchange rates, Fiscal Deficit,
Current account balance (deficit/Surplus) of India’s Balance of Payments. India’s
achievements vis-a vis Sustainable Development Goals (SDG).
Unit 2 Government Policies related to Businesses
Learning Outcomes:
• Recall the key policies related to industrial development, trade, and finance.
• Describe the benefits of digitization and unification of payment systems.
• Apply the concept of ease of doing business to identify strategies to improve business
environment in India.
• Analyze the impact of "Make in India" and "Atmanirbhar Bharat" policies on various
sectors of the Indian economy.
• Evaluate the impact of digitization and unification of payment systems on the Indian
economy.
• Develop strategies to address the challenges faced by businesses in doing business in
India.
Content: (12 hours)

Industrial Policies; EXIM Policies; Monetary Transmission- Bank’s credit to Non- Agriculture
sectors; Digitization and Unification of Payment system – UPI; Ease of Doing Business –
Concept, Parameters and their measurement, issues and challenges in ‘Doing Business’;
Disinvestment in Public Sector Units; Understanding of “Make in India” and “Atmanirbhar
Bharat” and its impact on Indian Economy.
Unit 3 Relationship between Business and Government
Learning Outcomes:
• Recall the relationship between business and government.
• Understand recent changes in fiscal and monetary policies and their implications for
businesses.
• Apply knowledge of government policies to identify opportunities and challenges for
businesses.
• Analyze the impact of government policies on the Indian business environment.
• Evaluate the performance of the Indian economy based on the latest Economic Survey.
• Create proposals for new policies to improve the Indian business environment.
(12 hours)
32
Content:
Relationship between Business and Government; Union Budget as an instrument of growth
and its Impact on Business; Recent Changes in Fiscal and Monetary Policies; Impact of
Government Policies on Indian Business Environment; Analysis of latest Indian Economic
Survey with respect to the performance Indicators and changes from the previous year.
Unit 4 Global Business Environment
Learning Outcomes:
• Understand foreign direct investment (FDI), foreign institutional investment (FII), and
their impact on the global business environment
• Understand the role of WTO in regulating international trade and its implications for
India.
• Apply knowledge of economic indicators to compare and contrast the performance of
India and China.
• Analyze the relative performance of India as a member of BRICS and BIMSTEC.
• Evaluate the attractiveness of specific markets for FDI and FII.
• Develop strategies for attracting FDI and FII to specific markets.
• Create proposals for improving India's comparative performance with China on key
economic indicators.
Content: (9 hours)
Global Business Environment: Foreign Direct Investment, Foreign Institutional Investment,
WTO and India: an overview, Regulation of Foreign Trade; Relative performance of India as
a member of BRICS and BIMSTEC; Comparative analysis of India Vs China on major
economic indicators.
Essential Reading:
1. Latest Economic Survey of India
2. Latest Union Budget
3. Business Environment by A. C. Fernando, Pearson India, ISBN: 9788131731581.

33
DSE 3: PROJECT APPRAISAL AND FINANCING

Practice (if any)
Project Appraisal and 4 3 1 0 Class XII NA
Financing
DSE-3
Course Objectives:
• To provide an understanding to the students about identification of a project, feasibility

analysis, alternative project appraisal techniques, Project financing.
Learning Outcomes:
• Apply various methods of project Appraisal.
• Use Capital Budgeting techniques for financial evaluation and selection of Projects.
• Understand the concept and application of Social Cost and Benefit Analysis.
• Carry out Risk Analysis for business projects and identify alternative sources of financing.
• Apply appraisal techniques for evaluating live projects.
Course Contents
Unit 1: Introduction to Projects and their Appraisal (9 hours)

Project Definition, Project Identification, Project Life Cycle, Project Stakeholder Analysis,
Feasibility study. Types of Project Appraisal (Brief Overview): Market and Demand Analysis,
Technical Appraisal, Financial Appraisal, Economic Appraisal, Managerial Appraisal, and
Social Appraisal.
Unit 2: Financial and Social Appraisal (15 hours)
Project Cost and its components, Investment Evaluation Methods (Non-Discounting and
Discounting Methods): Payback Period, Accounting Rate of Return, Discounted Payback
Period, Net Present Value, Profitability Index, Internal Rate of Return (IRR), Modified Internal
Rate of Return (MIRR). Suitability of Methods to different Projects, Investment Evaluation in
Practice. Social Appraisal: Rationale for Social Cost Benefit Analysis, Approaches of SCBA
(UNIDO and Little-Mirrlees Approach), Environment Impact Assessment (EIA) and Social
Impact Assessment (SIA) of Projects. Relevant Case Studies.
34
Unit 3: Project Risk Analysis (12 hours)
Risk Analysis and Management: Sources and Measures of Risk. Methods of Assessing Risk –
Sensitivity Analysis, Scenario Analysis, Break-Even Analysis, Simulation Analysis, Decision
Tree Analysis, Project Selection under Risk – Judgmental Evaluation, Payback Period, Risk
Adjusted Discount Rate Method, Certainty Equivalent Method, Strategies for Risk
Management.
Unit 4: Project Financing (9 hours)
Capital Structure; Choices of Financing; Sources of Financing – Internal Accruals, Equity
Capital, Preference Capital, Debentures (or Bonds), Term Loans, Venture Capital, Private
Equity, Venture Capital Vs Private Equity, Loan Syndication, Consortium Financing, Public
Private Partnership (PPP), Securitization, Crowd Funding; Raising Capital from International
Markets: Foreign Issue, Foreign Direct Investment (FDI), External Commercial Borrowings
(ECB).
Essential Readings:
1. Chandra, P: Projects – Planning, Analysis, Selection, Financing, Implementation, and
2. Agrawal, R., & Mehra, Y. S. (2017). Project Appraisal and Management. Taxman
Publications.
1. Goodpasture, C.J Quantitative Methods in Project Management. J. Ross Publishing.
2. Chandra, P, Financial Management: Theory and Practice, McGraw Hill Publishing.

35
DSE 5: DIGITAL FINANCE
Practice (if any)
Digital Finance 4 3 1 0 Class XII NA
DSE-5
• To get the students acquainted with the dramatic changes in the financial sector
generated by the digital revolution.
Learning Outcomes:
After studying this course the student will get the:
• Understanding of the nature of digital revolution in finance.
• Knowledge of key digital technologies and products, and state reaction to the digital
revolution.
• Knowledge of FinTech, big data analytics and new financial business models.
Course Contents:
Unit 1: Digital Transformation of Finance (8 Hours)
Learning Outcomes:
By the end of the unit, students will be able to:
• Recall the major milestones in the history of financial innovation.
• Understand the process of digitization in financial services and its impact on the
industry.
• Apply the concepts of FinTech to assess their potential for transforming the financial
industry.
• Analyze the different types of FinTech and their specific applications in the financial
industry.
• Critically evaluate the impact of different types of FinTech on traditional financial
services.
• Propose innovative ideas for further advancing the digitization of financial services.
Content:
A Brief History of Financial Innovation, Digitization of Financial Services, Introduction to
FinTech & Funds, FinTech Transformation, FinTech Typology, Collaboration between
Financial Institutions and Start-ups. Introduction to Regulation and future of RegTech.
36
Crowdfunding- Role of finance in economy, the role of financial intermediaries, Types and
functioning of crowdfunding markets, Differences between traditional funding models and
crowdfunding markets, Informational problems in the crowdfunding model.
Unit 2: Payment Systems (12 Hours)

Learning Outcomes:
• Recall the process of digitalization in the payment system.
• Understand the attributes that contribute to a well-functioning payment system.
• Apply understanding of electronic payment systems to assess their suitability for
different transaction types.
• Assess the risks and benefits associated with new entrants and payment models for the
banking system.
• Evaluate the impact of the growth of digital payments in India on financial inclusion
and economic development.
• Develop comprehensive guidelines and policies for digital payments that align with the
evolving financial landscape and regulatory requirements.
Content:
Digitalization of the payment system. The historical evolution of the payment system.,
Attributes of a well-functioning payment system., Banks as guarantors of the payment system,
new entrants, and new payment models: risks for the banking system. FinTech applications in
Banking & Non-Banking Financial Companies (NBFCs); Insurance; payments; Lending;
Audit; and Compliance. Electronic Clearing Service (ECS), Real Time Gross Settlement
(RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS),
Unified Payments Interface (UPI), Growth of Digital Payments in India, RBI guidelines on
Digital Payments.
Unit 3: Crypto Assets and Blockchains (20 Hours)

Learning Outcomes:
• Define crypto assets, cryptocurrencies, and blockchain.
• Summarize the future prospects of cryptocurrencies as a form of currency.
• Apply knowledge of Proptech to evaluate its applications in the real estate industry.
• Evaluate the regulatory debate surrounding cryptocurrencies and blockchain.
• Compare and contrast different blockchain systems and their functioning.
• Propose innovative use cases of Internet of Things (IoT) and Augmented/Virtual
Reality (AR/VR) in the financial industry to enhance customer experience and
efficiency.
Content:
Introduction: Crypto an asset for trade and Crypto-currency, Problems with issuers credibility,
Fin Tech & Securities Trading; Cryptocurrencies and its future as currency, blockchain as a
37
registration mechanism, Functioning of the block chain system. The integration of digital
currency and blockchain and issuers incentive problems; Proptech: FinTech of Real Estate;
Possible alternative uses of blockchain technology in the economy and difficulties in its
implementation. Use of bitcoin in money laundering., The regulatory debate. Introduction of
Central Bank Digital Currency (CBDC). Other Emerging Financial Technologies: Internet of
things (IOT) & AR/VR applications.
Unit 4: FinTech, Big Data Analytics, and new Financial Business Models (20 Hours)
Learning Outcomes:
• Recognize the characteristics and features of smart accounts and customized financial
products.
• Comprehend the relationship between big data, machine learning, and improved
financing decisions.
• Utilize big data and machine learning techniques to improve financing decisions.
• Analyze the risks associated with high-frequency trading and propose mitigation
strategies.
• Critically evaluate the role of digital securities as a new systemic risk in the economy.
• Design innovative approaches to leverage big data and machine learning for financing
decisions.
Content:
The use of data in traditional credit decisions, the combination of big data and machine learning
to improve financing decisions., Smart accounts, customized financial products, risk
management and fraud prevention., High frequency trading: opportunities and risks.
Digital security, Challenge of confidentiality, integrity and availability, Digital securities as a
new systemic risk in the economy. Regulations on cybersecurity. Latest development in the
field of Digital Finance.
Essential Readings:
1. Lynn, T., Mooney, J. G., Rosati, P., & Cummins, M. (2019). Disrupting finance:
FinTech and strategy in the 21st century. Springer Nature.
2. Beaumont, P. H. (2019). Digital Finance: Big Data, Start-ups, and the Future of
Financial Services. Routledge.
1. Phadke, S. (2020). FinTech Future: The Digital DNA of Finance. Sage Publications.
2. Maese, V. A., Avery, A. W., Naftalis, B. A., Wink, S. P., & Valdez, Y. D. (2016).
Cryptocurrency: A primer. Banking LJ, 133, 468.
Evaluation scheme and mode will be as per the guidelines notified by the University of Delhi..
38
DSE 6: MICROFINANCE
Practice (if any)
Microfinance 4 3 1 0 Class XII NA
DSE-6
Course Objective: The course is aimed at evolving clear understanding of role of

Microfinance and Insurance in addressing the problem of poverty and income generating
activities to the poor people. The participants will be equipped with Microfinance concepts,
functions, products and strategies that will help in pertinent policy making in their respective
departments/organizations. Participants should concentrate more on the latest publications on
various online sites and concerned reports.
Learning Outcomes:
Students after reading this course will become aware and sensitive towards the people at the
bottom of the pyramid. They will be able to understand:
• Facts and figures regarding Poverty in India.
• The need and relevance of Microfinance.
• The role of Micro Finance Institutions for financial Inclusions.
• The Role of NGOs in implementing the Governments welfare policies.
Course Contents
Unit 1: Introduction to Microfinance (9 hours)
Learning Outcomes:
• Identify the emerging trends in microfinance.
• Understand the Human Development Index and the Hunger Index.
• Apply the knowledge of the Human Development Index and the Hunger Index to
evaluate and compare countries.
• Critically evaluate India's position on the poverty index.
• Evaluate the strengths and weaknesses of different poverty indices.
• Propose strategies for improving India's position on the poverty index.
Content:
Background, evolution, and Overview; Emerging trends in Micro finance; Poverty: Sources
and Consequences of Poverty, Understanding the construct of Poverty Indices - The Human
Poverty Index (HPI) developed by UN and Global Multidimensional Poverty Index (MPI),
39
critical evaluation of India’s position on the Poverty Index; Understanding of Human
Development Index and Hunger Index.
Unit 2: Microfinance Models (12 hours)
Learning Outcomes:
• Identify and describe different models in microfinance.
• Understand the objectives and operations of the different models in microfinance.
• Apply the principles and practices of the models to design and implement microfinance
initiatives.
• Analyze the strengths and weaknesses of the models and their impact on rural
development.
• Evaluate the success and limitations of the various models in meeting the financial
needs of micro-entrepreneurs and assess their scalability.
• Propose innovative microfinance initiatives based on the lessons learned from case
studies, considering local context and challenges.
Content:
NABARD model, SIDBI model, SGSY model, Grameen Banking model, NMDFC model,
Associations model, Community Banking Model, Credit unions etc. Strategic Issues in
Microfinance: Significance of NGOs: their role and responsibilities; case studies.
Unit 3: Microfinance Institutions (12 hours)
Learning Outcomes:
• Recall the different types of MFIs.
• Understand the issues and challenges involved in pricing micro-loans.
• Apply risk management techniques and tools in the context of microfinance operations.
• Assess the commercial viability of MFIs based on financial and operational indicators.
• Evaluate the strengths and limitations of different MFI models and their suitability for
different target populations.
• Design innovative MFI models that combine commercial viability with social impact
to maximize financial inclusion.
Content:
Eligibility, Regulations, types, Commercial Microfinance: Investing in Microfinance, Viability
of MFIs, Risk management in Micro finance; Pricing of Micro-loans: issues and challenges;
Strategic Issues in Microfinance, Role of RBI in Financial Inclusion.
Unit 4: Social Rating, Credit Rating of MFIs (12 hours)
Learning Outcomes:
• Recall the concepts of social rating, credit rating and their importance in evaluating the
performance of MFIs.
40
• Understand the significance of impact assessment in evaluating the effectiveness and
outcomes of microfinance initiatives.
• Apply the principles and guidelines of the MUDRA Yojana to facilitate access to
finance for microenterprises.
• Analyze the challenges and opportunities in implementing microinsurance in the
context of microfinance.
• Evaluate the impact and outcomes of different Government welfare schemes in
achieving financial inclusion.
• Generate new case studies highlighting successful approaches and lessons learned from
government welfare schemes for financial and social inclusion.
Content:
Social Rating, Credit Rating of MFIs and Impact assessment in Micro finance; Micro
insurance: issues and challenges; MUDRA Yojana; PMJDY. Government’s welfare schemes
for financial and social inclusions like Deendayal antyodaya yojana, Pradhan Mantri Garib
Kalyan Yojana (PMGKY) (Case Studies).
Essential Readings:
1. Panda, D. K. (2009). Understanding Microfinance. Wiley
2. Indian Institutes of Banking and Finance. (2008). Micro-finance Perspectives and
Operations. MacMillan India Ltd.
3. Armendariz, B., & Morduch, J. (2005). The Economics of Microfinance. Prentice-Hall of
India Pvt. Ltd. Delhi.
1. Ledgerwood, J. (1998). Microfinance Handbook: An Institutional and Financial
Perspective. The World Bank, Washington, D.C.
2. Harper, M. (2003). Practical Microfinance: Training Guide for South Asia. Vistaar
Publication, New Delhi.

41
DSE 7: MANAGEMENT OF FINANCIAL INSTITUTIONS
Practice (if any)
Management of 4 3 1 0 Class XII NA
Financial Institutions
DSE-7
• This course aims at enabling the students to understand and to contribute to the strategic
operational policies and risk management practices of financial institutions in a
competitive environment.
Learning Outcomes:
After studying this course the student will be able:
• Understand the functioning of a financial institution.
• Understand the entire process of operating a bank and other financial institutions with
respects to the rules and regulations prescribed by the regulators.
• Understand the problems faced by the banks like that of NPA or of liquidity challenge etc.
and tools and techniques to manage them.
Course Contents:
Unit 1: Foundation and Key Concepts (9 hours)
Financial Intermediation: Types of Financial Services-Depository Institutions, Finance
Companies, Security Firms and Investment Banks, Mutual Funds and Hedge Fund Companies,
Insurance Companies. An Overview of the Indian Financial System; Regulation of Banks,
NBFCs & FIs, Capital Adequacy: Capital adequacy norms; Basel agreement-II&III, CRR &
SLR management.
Unit 2: Financial Statement Analysis of Banks (12 hours)
Statement of Financial Sector: Statements of Financial Institutions: Analysing Bank’s
Financial Statement: The balance sheet; income statement; Cash Flow Statement; profitability,
liquidity and solvency analysis; Sources and Uses of Banks Funds, Performance Analysis of
banks: CAMELS Risk system; Key Performance Indicators; Data Envelopment Analysis,
Asset Liability Management: RBI guidelines on asset liability management.
Unit 3: Measuring and Managing Risk Part 1 (12 hours)
42
Institutional Risk Management: Interest Rate Risk: Level and Movement of Interest Rates,
Term Structure of Interest Rates, Interest Rate Risk Management: Measurement of Interest
Rate Risk; Duration and its kinds; Convexity. Managing Interest Rate Risk: Repricing Gap
Model, Duration Gap Model, Cash Flow Matching Model; Convexity Adjustments. Credit
Risk: Individual Loan Risk, Return on Loans , Measurement of Credit Risk- Models of Credit
Risk Measurement and Pricing, Qualitative and Quantitative Models, Loan Portfolio and
Concentration Risk, Moody’s Analytics Portfolio Manager Model, Loan Volume–Based
Models, Loan Loss Ratio–Based Models, Regulatory Models. NPA & its types, Management
of NPA Market Risk; Liquidity Risk, Operational Risk.
Unit 4: Measuring and Managing Risk Part 2 (12 hours)
Liquidity Risk Management: Measurement of Liquidity Risk; Measures of Liquidity Exposure;
Causes of Liquidity risk: Asset-Side and Liability-Side; Managing Liquidity Risk: Purchased
Liquidity management and Stored Liquidity management; Liquidity Planning; Deposit
Insurance; Discount Window. Market risk; Banking Book and Trading Book, The Riskmetrics
Model, The Historic (Back Simulation) Model, The Monte Carlo Simulation Approach,
Regulatory Models: The Bis Standardized Framework, Off- Balance Sheet Risk: Off-Balance-
Sheet Activities, Returns and Risk of Off-Balance-Sheet Activities; Technology and Other
Operational Risk, Securitization.
Essential Readings:
1. Saunders & Cornett – “Financial Institutions Management – A risk management approach”
Tata McGraw Hill.
2. Paul, J & Suresh, P -“ Management of Banking and Financial Services” Pearson.
1. Resti & Sironi – “Risk management and shareholders‟ value in banking”. John Wiley.
2. RBI Master Circulars and other Regulatory documents applicable at the time of teaching the
course.

43
DSE 9: INSURANCE MANAGEMENT
Practice (if any)
Insurance Management 4 3 1 0 Class XII NA
DSE-9
Course Objectives: To enable students to identify and manage different types of risks. They
will be able to understand the concepts, types and principles of Insurance. Further, they will
know the important aspects and technical components of management of Insurance business.
Learning Outcomes:
● identify and analyze various types of risks faced by individuals and businesses, evaluate
the role and importance of insurance in mitigating these risks, and differentiate between
different types of insurance
● understand the principles of risk management, techniques for managing risks, and legal
principles governing insurance contracts, and develop an understanding of real-world
risk management scenarios.
● understand the legal Characteristics and components of insurance contracts,
underwriting principles, claims settlement process, and the regulatory framework of
the insurance industry in India.
● comprehend the different aspects of insurance business management, including
reinsurance, alternative risk transfer, investments, rate-making, coinsurance, and
important provisions of insurance policies.
Course Contents
Unit 1: Insurance and Risk (12 hours)
Risk – Definitions of Risk, Chance of Loss, Peril and Hazard, Classification of Risk, Major
Personal Risks and Commercial Risks, Burden of Risk on Economy and Society. Insurance –
Definition of Insurance, Basic Characteristics of Insurance, Law of Large Numbers,
Characteristics of an Ideally Insurable Risk, Benefits and Costs of Insurance to Society. Life
and General Insurance: Types, Difference between Life and General insurance.
Unit 2: Insurance Principles & Risk Management (12 hours)

Risk Management – Meaning of Risk Management, Objectives of Risk Management, Steps in
the Risk Management Process, Techniques for Managing Risk, Benefits of Risk Management.
Personal Risk Management. Enterprise Risk Management (briefly) – Concept & Benefits. Case
44
Studies on Management of different Personal and Business Risk to be discussed. Fundamental
Legal Principles – Principle of Indemnity, Principle of Insurable Interest, Principle of
Subrogation, Principle of Utmost Good Faith. Requirements of an Insurance Contract.
Unit 3: Insurance Company Operations (12 hours)

Requirements of an Insurance Contract, Distinct Legal Characteristics of Insurance Contracts.
Components of Insurance Contracts – Declarations, Definitions, Insuring agreement,
Exclusions, Conditions, and Miscellaneous provisions. Underwriting – Underwriting Policy,
Underwriting Principles, Sources of Underwriting Information. Sales and Marketing activities
of Insurers. Claims Settlement – Basic Objective, Parties Involved & Steps in Settlement
Process. Endorsements and Riders. Deductibles – Concepts and Purpose of Deductibles.
Regulatory Framework of Insurance in India (briefly) – Insurance Legislation and IRDA.
Unit 4: Important Aspects of Insurance Business Management (9 hours)

Reinsurance – Definitions, Reasons for Reinsurance, Types of Reinsurance – Facultative &
Treaty Reinsurance, Methods of Sharing Losses (Numerical Qs). Alternatives to Traditional
Reinsurance – Securitization of Risk and Catastrophe Bonds. Insurance and Investments – Life
Insurance Investments, Property and Casualty Insurance Investments. Rate Making – Concept,
Objectives, Rate Making Methods (Numerical Qs) – Judgement, Class and Merit Rating
Method. Coinsurance – Nature, Purpose and Problems. Other Important Provisions – Pro
Rata liability, Contribution by Equal Shares, and Primary and Excess Insurance.
Essential Readings:
1. Rejda, G. E., McNamara, M. J., & Rabel, W. H. (2021). Principles of Risk Management
and Insurance. (14th ed.). Pearson Education.
2. Mishra, M. N., & Mishra, S. B. (2016). Insurance Principles and Practice. (14th ed.). S.
Chand and Company.
1. Gupta, P. K. (2022). Insurance and Risk Management (2nd ed.). Himalaya Publishing
House.
2. Institute of Chartered Accountants of India. (2021). Diploma in Insurance and Risk
Management [Course modules].

45
DSE 11: INTERNATIONAL FINANCIAL ARCHITECTURE
Practice (if any)
International Financial 4 3 1 0 Class XII NA
Architecture
DSE-11
Course Objective:
• To acquaint students with the latest developments in the international business relationships
and agencies funding for country’s development.
Learning Outcomes:
After completion of this paper:
• Students shall be aware of the latest development in the international business relationships
which will enable them to make better decisions related to international business.
• Students shall have the knowledge of different international investment avenues and
opportunities available.
• Students shall be aware of various regional trading blocks, international institutions and
funding agencies.
Course Contents:
Unit 1 (12 hours)

Review of Economic Theory on International Trade: Basis for international trade; gains from trade;
distributional issues, policy instruments and their impact, political economy. Importance, nature and
scope of international relation, modes of entry into international business, internationalization process
and managerial implications. Domestic, foreign and global environments and their impact on
international business decision; Growing concern for green trades.
Unit 2 (12 hours)

International economic & trading environment: Regional integration and trade blocks, regionalism v/s.
multilateralism, European Union. Integration of developing countries – BRICS, ASEAN, SAARC,
SAFTA, NAFTA, G-20. World trade in goods and services – Major trends and developments; World
trade and protectionism – Tariff and non-tariff barriers; Counter trade, UNCTAD, WTO, GATT, GATS,
TRIM, TRIPS; India’s role in facilitating trade relations under BRICS, SAARC, SAFTA, ASEAN and
to WTO.
Unit 3 (9 hours)
46
International investment: Types and significance of foreign investments, factors affecting international
investment, growth and dispersion of FDI, Cross border mergers and acquisition, foreign investment in
India-Impact of reforms on competitiveness of the Indian Firms, EURO/ADR issues, ECBs; current
economic crises in US/Europe/Asia and its impact on economic growth in India.
Unit 4 (12 hours)

Economic institutions – International Monetary Funds (IMF), World Bank (IBRD, IDA, IFC), Asian
Development Bank, BRICS Development Bank, European Bank for Reconstruction and Development,
Bilateral funding arrangements with special reference to Japan International Cooperation Agencies
(JICA), agencies of USA; Case studies on Bilateral financing arrangements of Indian projects like Delhi
Metro, Dedicated Freight corridor, Nuclear Power Plant etc.
Essential Readings:
1. Radebaugh, L.H., Sullivan, D.P., Salwan, P., & Daniels, J.D. (n.d.). International Business
Environments and Operations (15th ed). Pearson.
2. Hill, W. L., Charles, & Jain, A.K. (2008). International Business (6th ed). India: McGraw Hill.
1. Bennet, R. (1999). International Business. Financial Times. London: Pitman Publishing.
2. Vyuptakesh, S. (2003). International Business (2nd ed). India: Pearson Education.
3. Krueger, A. O. (2002). Economic Policy Reforms and the Indian Economy. OUP.
4. Velasquez, M. G. (2012). Business Ethics Concepts and Cases (7th ed.). New Delhi: PHI.

47
GE 1: FUNDAMENTALS OF FINANCIAL MANAGEMENT
Practice (if any)
Fundamentals of 4 3 1 0 Class XII Basic knowledge
Financial Management of financial
GE-1 accounting, cost
and
management
accounting and
corporate
accounting
Course Objectives:
• To acquaint students with the techniques of financial management and their
Learning Outcome:

• Understand the concept of time value of money, process of capital budgeting,
concepts of cost of capital and other aspects of financing, dividend and working
capital decisions
• Understand the process of making investments, raising finance for investment in fixed
and current assets and distribution of surplus from business operations.
• Apply the techniques of time value of money in real life situations, techniques of
capital budgeting in investment decisions, process to calculate the cost of capital and
share price based on dividends along with the estimation of working capital and its
components.
• Evaluate the investment opportunities available, the various financing mix that can be
used to derive the maximum value from the investment opportunities, the optimal
dividend payout and monitor the current asset requirements.
• Analyse the evaluation outcomes to choose the best investment opportunity at the
lowest cost of financing and adopt the optimal dividend pay-out along with the
optimal level of liquidity through the working capital route to derive maximum
wealth.
48
• Create a portfolio of investments at the best possible financing and dividend mix with
the most appropriate working capital composition that will create maximum wealth
under the given constraints.
Course Contents:
Unit 1 (9 hours)
Unit 2 (15 hours)

Strategic Investment Decisions: Capital Budgeting -; Nature and meaning of capital budgeting;
Principles and Process; Estimation of relevant cash flows and terminal value; Evaluation
techniques– Payback period, Accounting Rate of Return, Net Present Value, Internal Rate of
Return, Net Terminal Value, Profitability Index Method.
cost of capital based on Historical and Market weights (WACC).
Unit 3 (12 hours)

Strategic Financing Decisions - Capital Structure, Theories and Value of the firm – Net Income
approach, Net Operating Income approach, Traditional approach, Modigliani Miller (MM)
model. Leverage analysis and EBIT-EPS Analysis: Concept of leverage, Types of leverage:
Operating leverage, Financial leverage, Combined leverage; EBIT-EPS Analysis. Guidelines
for capital structure planning, Link between capital structure and capital budgeting. Dividend
Decisions: Factors determining dividend policy, Theories of dividend- Gordon model, Walter
model, MM Hypothesis. Dividend policies in practice.
Unit 4 (9 hours)
Techniques (Lock box, Concentration Banking). Inventory Management (Theory only) – ABC
Model).
Essential Readings:
1. Berk, J., & DeMarzo, P. (n.d.). Corporate Finance (5th ed.). Pearson - Prentice Hall.
2. Horne, J. C. V., & Wachowicz, J. M. (n.d.). Fundamentals of Financial Management (13th
ed.). FT Prentice Hall, Pearson Education.
49
1. Khan, M. Y., & Jain, P. K. (n.d.). Financial Management Text, Problems, and Cases. Tata
McGraw Hill Publishing Co. Ltd.
2. Brealey, R. R., Myers, S., Allen, F., & Mohanty, P. (n.d.). Principles of Corporate Finance.

50
Practice (if any)
Fundamentals of Stock 4 3 1 0 Class XII Basic
Trading
GE-3 understanding
of financial
concepts and
terminology
Course Objectives:
• Understand the fundamentals of investment, investment environment, and the principles of
sound investment.
• Gain knowledge of the Indian securities market, including primary and secondary markets,
IPOs, stock exchanges, and stock indices.
• Learn about online security trading, including trading mechanisms, settlement processes,
and different types of orders.
• Understand mutual funds, their structure, advantages, and limitations, as well as different
types of schemes and plans.
• Gain knowledge of how to evaluate investment alternatives, including criteria for
evaluating mutual funds, and performance evaluation of mutual funds.
Learning Outcomes:
• Understand the fundamentals of investment, investment environment and principles of
sound investment, and evaluate different investment alternatives based on criteria such as
risk and return.
51
• Analyze the Indian securities market, differentiate between capital and money markets,
primary and secondary markets, and comprehend the role of market participants such as
issuers, investors, and intermediaries.
• Explain the trading mechanism on exchanges, online trading mechanisms, and the types of
orders and conditions associated with it.
• Evaluate mutual fund schemes, their structures, advantages, and limitations, and
comprehend the factors affecting the choice of mutual funds.
• Analyze the performance evaluation of mutual funds and comprehend the ranking
methodology used by CRISIL for mutual funds.
Course Contents
Unit 1: Basics of Investment & Investment Environment (9 Hours)
and Indirect Investing, Approaches to Investing – Active Investing and Passive Investing. Risk
Return Trade Off. Types of Securities – Equity Shares, Bonds and Debentures, and
Alternatives.
Unit 2: Indian Securities Market (12 Hours)

Securities Market – Capital Market and Money Market, Difference between Capital and Money
Market, Primary and Secondary Market, Difference between Primary and Secondary Market.
Over the Counter (OTC) and Exchange Traded market. Modes of offering Equity Shares –
Initial Public Offering (IPO), Follow-on Public Offering (FPO), Difference between IPO and
FPO, Difference between Offer for sale (OFS) and Public offer (IPO/FPO). Methods of IPO
Pricing – Fixed Price Method and Book Building Method, The Book Building Process, Fixed
Price method v/s Book building Method. Market Participants – Issuer of Securities, Investors,
and Intermediaries. Role of Stock Exchange. Stock Exchanges in India. Securities (Stock)
Indices – Broad Market Indices, Sectoral Indices and Thematic Indices.
Unit 3: Online Security Trading (12 Hours)

(Equities).
Online Trading – Introduction, Online Trading Mechanism. Online Real Time Price Quotations
– Bid Price, Ask Price, Bid-Ask Spread, Tick Size, LTP, ATP. Circuit Breakers – Upper
52
Circuit, Lower Circuit, NSE rules regarding Circuit Breaks. Price Bands, Rules regarding Price
Bands on NSE. Electronic Order Book. Types of Orders – Market Order, Limit Order, Stop
Loss Order, Stop Loss (Limit) Order, Stop Loss (Market) Order, After Market Order (AMO).
Order Conditions – Price related conditions, Time related conditions, Quantity related
conditions. Placing an Order, View/Modify/Cancel an Order.
Unit 4: Investing in Mutual Funds (12 Hours)

Domestic Funds and Off-Shore funds; Growth funds, Income funds and Balanced funds; Equity
Fund schemes, Debt fund schemes, Gilt Funds, Money Market Funds, Tax Saving or Equity
Linked Savings Scheme (ELSS), Index schemes, Sectoral Funds, Ethical Funds, Load and No-
Load Fund, Fund of Funds, Systematic Investment Plans (SIP), Systematic Withdrawal Plans
(SWP), Systematic Transfer Plans (STP), and Exchange Traded Funds. Net Asset Value, Cost
incurred and Return from Mutual funds, Types of Loads. Performance Evaluation of Mutual
Funds. Factors affecting choice of Mutual funds. Mutual funds in India. CRISIL and their
Rankings for mutual funds – Ranking Methodology and Usage of Mutual Fund Rankings.
Essential Readings:
• Bhalla, V.K. (2018). Investment Management: Security Analysis and Portfolio
Management. S. Chand Publishing.
• Varshney, R.L., & Bhalla, V.K. (2017). Indian Financial System: Theory and Practice. S.
Chand Publishing.
• Krishnan, R. (2016). Mutual Fund Industry in India: A Study of Investment Behaviour.
Springer.
• Joshi, P.C. (2017). Online Trading: How to Trade Online for Beginners. Createspace
Independent Publishing Platform.
• Bodie, Z., Kane, A., & Marcus, A. J. (2018). Investments. McGraw-Hill Education.
• Fabozzi, F. J., Neave, E. H., & Zhou, G. (2019). Investments: analysis and behavior.
Cengage Learning.
• Kapoor, J. R., Dlabay, L. R., & Hughes, R. J. (2017). Personal finance. McGraw-Hill
Education
Evaluation scheme and mode will be as per the guidelines notified by the University of Delhi
53
GE 5: ESSENTIALS OF FINANCIAL INVESTMENTS
Practice (if any)
Essentials of Financial 4 3 1 0 Class XII NA
Investments
GE-5
Course Objectives:
• To familiarize students with the essential concepts and fundamentals of financial
investments.
• To enable students to understand and make informed choice about the various available
financial investment alternatives.
Learning Outcomes:

• Understand the fundamentals of financial investments and the investment decision
process.
• Able to compute various measures of risk and return, and understand their role for
evaluating investments.
• Understand basic approaches to valuation of securities and carry out portfolio analysis.
Course Contents
Objectives or Features of Investment, Risk Return Trade Off, Investment Environment –
Overview of Securities Market and Different Types of Financial Investment. Investment
Decision Process, Direct Investing Vs Indirect Investing, Approaches to Investing – Active Vs
Passive. Diversification, Hedging and Arbitrage.
Annualized Return, Risk-Adjusted Return. Causes (or Sources) and Types of Risk – Systematic
and Unsystematic Risk, Components of Systematic and Unsystematic Risk, Calculation of
Total, Systematic and Unsystematic Risk. Impact of Taxes and Inflation on Investment –
Computation of Post Tax and Real Returns.
54
Valuation of Fixed Income Securities – Bond Fundamentals, Types of Bonds, Bond Valuation.
Portfolio Analysis – Portfolio Management Process, Portfolio Analysis – Markowitz Model,
Portfolio Risk, Portfolio Return.
Essential Readings:
1. Tripathi, V. (n.d.). Security Analysis and Portfolio Management. Taxmann Publications.
2. Chandra, P. (n.d.). Investment Analysis and Portfolio Management. McGraw Hill

Education.
1. Rustagi, R. P. (n.d.). Investment Management. Sultan Chand Publications.
2. Reilly, F. K., & Brown, K. C. (n.d.). Analysis of Investments and Management of
Portfolios. Cengage India Pvt. Ltd.

55
GE 7: EMERGING BANKING AND FINANCIAL SERVICES
Practice (if any)
Emerging Banking and 4 3 1 0 Class XII NA
Financial Services
GE-7
Course Objective:
• To familiarize students with banking reforms in the last decade, concept of neo banks,
rising issue of non-performing asset and its impact on day-to-day functioning.
• To make students learn about financial services such as Leasing, Hire Purchase, Credit
Rating, Securitization and Venture Capital Financing.
Learning Outcomes:

• Understand the Indian banking system and latest developments in this sector.
• Analyse the implications of non-performing assets in the banking sector on the
economy.
• Evaluate the implications of mergers and acquisitions in the banking system and
appreciate the need for the same.
• Understanding various financial services and using the same in personal banking and
non-banking activities.
Course Contents:
Unit 1 (12 Hours)
An overview of the Indian Banking system; Major Banking Reforms in the last decade:
Payment banks, Monetary Policy Committee, MCLR Based Lending, Innovative Remittance
Services; Issues in financial reforms and restructuring; Future agenda of reforms: Assessing
Non- Performing Assets in Indian Banking, Previous methodologies for recovery, Impact of
Gross NPAs on a bank’s bottom line – burning need for bad banks, Functioning of Bad Banks,
Government backingfor bad banks - National Asset Reconstruction Company Ltd. (NARCL).
Unit 2 (12 Hours)

Introduction to neobanks, Functions of neobanks, Operating Model of neobanks, Regulatory
requirements for setting up and running neobanks, Emerging need for neobanks, neo banks vs
traditional banks. Merger & Acquisition: Introduction, Benefits of mergers, Synergies accruing
56
out ofmergers, Regulatory mechanisms surrounding M&A in banking, Case-studies of recent
banking mergers and related outcomes.
Unit 3 (12 Hours)

Leasing and Hire Purchase: Concepts of leasing, types of leasing – financial & operating lease,
direct lease and sales & lease back, advantages and limitations of leasing, Lease rental
determination; Finance lease evaluation problems Lessee’s angle (PV and IRR methods) and
Lessor’s perspective, Hire Purchase interest &Instalment, difference between Hire Purchase &
Leasing, Choice criteria between Leasing and Hire Purchase, mathematics of HP.
Unit 4 (9 Hours)
Venture Capital: Concept, history and evolution of VC, the venture investment process, various
steps in venture financing, incubation financing. Credit Ratings: Introduction, types of credit
rating, advantages and disadvantages of credit ratings, Credit rating agencies and their
methodology, International credit rating practices. Securitization: Concept and Process, Credit
Enhancement parties to a Securitization Transaction, Instruments of Securitization, Types of
Securities, Securitization in India.
Essential Readings:
1. Pathak, B. (2018). Indian Financial System. Pearson Publication. (5th ed).
2. Khan, M. Y. (2017). Financial services. McGraw Hill Education. (6th ed).
3. Machiraju, H. R. (2002). Indian Financial System. Vikas Publication House. (5th ed).
1. Verma, J. (1996). Bharat’s manual of merchant banking: Concept, practices and
procedures with SEBI clarifications, guidelines, rules and regulations. Bharat Law House.
2. Sriram K. Hand Book of Leasing, Hire Purchase & Factoring. Institute of Chartered
Financial Analysts of India.
3. Wright M., Watkins T. & Ennew C. (2016). Marketing of Financial Services. Routledge

57
GE 9: ECONOMIC LEGISLATION
Practice (if any)
Economic Legislation 4 3 1 0 Class XII NA
GE-9
• To familiarise students with various legislations in the areas of foreign trade,

competition, bankruptcy and economic offences.
• To provide an overview of detailed provisions of various economic legislation.
• To enable students to understand the legal implications of unlawful practices and legal
recourse available.
Learning Outcomes:
• Understand the legal framework relating to foreign exchange, competition, insolvency
and fugitive economic offenders.
• Recognise the legal issues in any business transaction and understand lawful way of
conduct of economic activities.
• Analyse the legal implications of any economic decision.
• Evaluate legal remedies available in case of bankruptcy or any wrongdoing.
Course Contents:
Unit 1: Competition Act and Fugitive Economic Offenders Act (15 Hours)
The Competition Act, 2002: Introduction, Prohibition of certain agreements, abuse of dominant
position and regulation of combinations, Competition Commission of India, Duties, Powers
and Functions of Commission, Penalties, Appellate Tribunal.
Unit 2: The Insolvency and Bankruptcy Code (9 Hours)
The Insolvency and Bankruptcy Code, 2016: Introduction of Insolvency and bankruptcy code,
Corporate Insolvency Resolution Process, Liquidation Process, Fast Track Insolvency
Authority for Corporate Persons, Offences and Penalties, Insolvency resolution and bankruptcy
58
for individuals and partnership firms, Regulation of Insolvency professionals, agencies and
information utilities.
Unit 3: The Prevention of Money Laundering Act (12 Hours)
The prevention of money laundering Act, 2002: Introduction and definitions, Punishment for
Unit 4: The Foreign Exchange Management Act (9 Hours)
The Foreign Exchange Management Act, 1999: Introduction of FEMA, Difference between
Essential Readings:
1. Maheshwari & Maheshwari. Principle of Business Law. Himalaya Publishing House
2. Aggarwal R. (2014). Mercantile & Commercial Law. Taxmann Publications
3. Kucchal M. & Kuchhal V. (2018). Mercantile Law. Vikas Publishing House (P) Ltd.
4. Kapoor N. D. (2018). Elements of Mercantile Law. Sultan Chand Publications
59
Semester-VI
BBA(FIA)
DSC 16: INTERNATIONAL FINANCE

Practice (if any)
International Finance 4 3 1 0 Class XII NA
DSC-16
• To equip the students with the techniques that can help them in managing the financial
issues in international environment.
• To help them to manage MNCs in more effective manner.
Learning Outcomes:
By the end of the course, students will be able to
• Understand foreign exchange market.
• Understand country’s position in International trade through Balance of Payments.
• Identify risk relating to exchange rate fluctuations and develop strategies to deal with
them.
• Understand the various types of exposures and will develop the strategy to handle them.
• Express well considered opinion on issues relating to international financial management.
Course Contents:
Unit 1: International Trade and International Financial Systems (6 hours)
Learning Outcomes:
• Recall the major theories of international trade.
• Understand the components and structure of the Balance of Payments (BoP) and its role
in measuring a country's economic relationships with the rest of the world.
• Analyze the strengths and weaknesses of different exchange rate mechanisms and their
impact on international trade and financial stability.
• Analyze the components of the Balance of Payments (BoP) and assess their
implications for a country's economic performance and external position.
• Assess the effectiveness and limitations of the Balance of Payments (BoP) as a tool for
monitoring and managing a country's external transactions.
60
• Propose strategies to improve the Balance of Payments (BoP) position of a country,
considering its economic objectives and external challenges.
Content:
Concept of International Trade, Theories of International Trade. Balance of Payments (BoP)
of India. International Monetary System: Different types of Exchange Rate Mechanisms – the
Classical Gold Standard, the Gold Exchange Standard, The Bretton Woods System, Current
Monetary System.
Unit 2: Forex Market and Forecasting Exchange Rate (15 hours)

Learning Outcomes:
• Recall the concepts of forward rates, swaps, discounts, and premiums in the forward
market.
• Understand the concept of currency arbitrage and how it can be utilized in spot markets.
• Apply the models of exchange rate forecasting to predict future exchange rate
movements based on relevant economic indicators.
• Analyze the various factors affecting exchange rates and their relative importance in
determining currency values.
• Assess the impact of economic, political, and market factors on exchange rates and their
potential implications for financial decision-making.
• Develop innovative approaches to minimize the costs and risks associated with forward
rates, swaps, discounts, and premiums in the forward market.
Content:
Foreign Exchange Management: Forex Market – Spot and Forward market, Quotations –
Direct, Indirect and Cross currency; Types of Transactions and their Settlement Dates. Forward
rates, Swaps. Discounts and Premiums in Forward Market. Currency Arbitrage in Spot
Markets. Exchange Rate Determination and Forecasting: Models of Exchange Rate
Forecasting, Purchasing Power Parity, The Fisher Effect, The International Fisher Effect,
Interest Rate Parity Theory, Forward Rate as an Unbiased Predictor. Factors affecting
Exchange Rates.
Unit 3: Managing Foreign Exchange Exposures (12 hours)

Learning Outcomes:
• Recall three types of foreign exchange exposures: translation exposure, economic
exposure, and transaction exposure.
• Understand the methods for measuring foreign exchange exposures.
• Apply knowledge of different hedging techniques to select and implement the most
suitable hedge strategy.
• Analyze the advantages and disadvantages of different hedging techniques.
61
• Assess the potential economic exposures faced by multinational companies and
evaluate strategies to manage and mitigate those exposures.
• Create a hedging strategy that effectively manages transaction exposure in a
multinational company.
Content:
Foreign Exchange Exposures – Translation Exposure, Economic Exposure, and Transaction
Exposure. Management of Translation Exposure – Alternative Currency Translation Methods.
Management of Economic Exposure – Measuring Economic Exposure, Managing Operating
Exposure. Management of Transaction Exposure – Forward Market Hedge, Money Market
Hedge, and Options Market Hedge.
Unit 4: Multinational Financial Management (12 hours)

Learning Outcomes:
• Recall the concept of international project appraisal and the use of the Adjusted Present
Value (APV) method.
• Explain the concept of multinational working capital management and the significance
of cash management through bilateral and multilateral netting.
• Apply risk measurement and management techniques to mitigate political risk in
international financial management.
• Analyze the advantages and disadvantages of different methods of raising funds from
abroad and evaluate their suitability for multinational companies.
• Assess the effectiveness of multinational working capital management strategies in
optimizing cash flows and reducing financial risks.
• Create an optimal international portfolio investment strategy that balances risks and
returns based on specific investment objectives and market conditions.
Content:
International Project Appraisal – APV method. Multinational Working Capital Management:
Multinational Cash Management (Bilateral and Multilateral Netting). Measuring and
Managing Political Risk. International Investment Management: International Portfolio
Investment – The Risks and Benefits of International Equity Investing, International
Diversification, International Bond Investing, Optimal International Asset Allocation,
Measuring Returns from Foreign Portfolio Investment. Raising Funds from abroad – GDR,
ADR, Euro bonds, and Global bonds.
Essential Readings:
1. Apte, P. G. (2020). International Financial Management. Tata McGraw Hill.
2. Shapiro, A. C. (2019). Multinational Financial Management. Prentice Hall.
1. Eun, C. S., & Resnick, B. G. (2021). International Financial Management. McGraw Hill.
2. Levi, M. D. (2009). International Finance. Routledge, Taylor & Francis Group.
62
Latest editions of references may be used.
63
DSC 17: CORPORATE ETHICS
Practice (if any)
Corporate Ethics 4 3 1 0 Class XII NA
DSC-17
Course Objective:
• To provide a detailed insight into issues and practices of corporate ethics, corporate
governance and CSR to encourage moral practices and sensitivity towards the ethical
dimension of managerial problems.
• To highlight the role of business in sustainable development and current regulation in
this field.
• To enable students to handle ethical dilemmas in decision making
Learning Outcomes:
After studying the course the student will be able to:
• Understand the role of ethics, governance and CSR as an organization practice.
• Understand various aspects of corporate governance and apply the same in their role
as future managers and directors of various business enterprises.
• Understand the corporate sustainability and its reporting requirements.
• Evaluate ethical aspects of any decision
• Create ethically and socially responsible businesses
Course Contents:
Unit 1: Corporate Ethics (9 hours)
Meaning, role and importance, theories of ethics: utilitarianism: weighing social cost and
benefits, virtue ethics, teleological theories, egoism, rights and duties, justice and fairness,
ethics of care. Worker’s and employee’s rights and responsibilities. Ethics in compliance,
Ethics in finance, Ethics in human resources: gender ethics, sexual harassment and
discrimination, ethics in marketing. Ethical dilemma.
Unit 2: Corporate Governance (12 hours)
Need and Importance, Role of Board of Directors, Code of Ethics, Code of Conduct, Model
Code of Business Conduct & Ethics and Corporate Governance Committees: International and
Indian Experience, Whistle Blower Policy and Whistle Mechanism. Anti-Corruption Policy
and integrity training.
Unit 3: Sustainable Development (12 hours)
64
Role of business in sustainable development, corporate sustainability. Sustainability reporting:
government role in improving sustainability reporting, triple bottom line (TBL). Global
Reporting Initiative (GRI), UN global compact, sustainability indices, sustainability reporting
framework in India, challenges in sustainability reporting. Contemporary developments:
integrated reporting, integrated reporting by listed entities in India. Relation between integrated
reporting and sustainability reporting.
Unit 4: Corporate Social Responsibility (12 hours)
Corporate Social Responsibility (CSR): Meaning and definitions of C S R , C S R a n d
philanthropy, factors influencing CSR, CSR in India. Corporate Social Responsibility
Voluntary Guidelines, 2009. C S R under the Companies Act, 2013.Corporate citizenship –
beyond the mandate of law, C S R audit, profit maximization vs. social responsibility.
References:
 Fernando A. C.: Business Ethics–An Indian Perspective. (Chapter 9)
 Ghosh B N: Business Ethics & Corporate Governance, Mc Graw Hill (Chapter 17)
 Andrew & Matten Dirk: Business Ethics, Oxford. (Chapter1, 2, 7)
 Crane Andrew & Matten Dirk: Business Ethics, Oxford. (Chapter11)
 Sharma J P: Corporate Governance, Business Ethics & CSR, Ane Books.(Chapter12)
Essential Readings:
1. Velasquez, M. G. Business Ethics: Concepts and Cases. Pearson Education
2. Fernando A.C. Business Ethics. Pearson Education.
3. Luthans F., Hodgetts R., & Thompson K. Social issues in Business, Macmillan Publishers
4. Gibson K., Ethics and Business: An Introduction (Cambridge Applied Ethics). Cambridge
University Press.
1. Fernando A.C. Corporate Governance: Principles, Policies, and Practices. Pearson
Education.
2. Adrian D. Strategic Approach to Corporate Governance. Gower Publishing Ltd.
3. Gopalswamy N. Corporate governance: A new paradigm. A H Wheeler Publishing Co Ltd.
4. Marianne J. Cases in Business Ethics. Indian South Western College Publishing.
5. Bhanumurthy K. Ethics and Social Responsibility of Business. Pearson Education India.

65
DSC 18: FINANCIAL SERVICES
Practice (if any)
Financial Services 4 3 1 0 Class XII NA
DSC-18
Course Objective:
• To arm students with the key concepts, evaluative tools and techniques necessitated by
today’s dynamic banking environment to work cross-functionally within retail and
institutional clients across an extensive range of financial services.
Learning Outcomes:
After studying the course the student will be able to:
• Understand the various financial services available in financial markets particularly in
India along with the latest innovations and technological integration in the field of
finance.
Course Contents:
Unit 1: Introduction to Financial Services (9 hours)

Introduction to Financial Services: Constituents of the Financial Sector – Institutional Structure
(Banking, Insurance, Mutual Funds, Pension Funds, Foreign Institutional Investors) – Financial
Markets (Money, Equity, Debt, G-Sec, Forex & Commodities)) – Financial Sector and the
Pandemic, Basel Accords and Banking Regulation, Emergence of Digital Finance and AI
Based Asset Managers, Discount Broking v/s Full-service Broking.
Unit 2: Merchant Banking (12 hours)

Merchant Banking –meaning, nature and function; merchant banking in India, role in issue
management; Book building process, green shoe option. Mutual Fund: types of Mutual Funds
and different types of schemes, concept of NAV, Credit Rating Agencies: Role and mechanism.
Depository services- meaning, role of depository and their services, Depository in India- NSDL
& CDSL.
Unit 3: Leasing and Hire Purchase (15 hours)

Leasing and Hire Purchase :Concepts of leasing, types of leasing – financial & operating lease,
direct lease and sales & lease back, advantages and limitations of leasing, Lease rental
determination; Finance lease evaluation problems, Hire Purchase interest & Installment,
difference between Hire Purchase & Leasing, Choice criteria between Leasing and Hire
66
Purchase mathematics of HP, Factoring, forfaiting and its arrangement, Housing Finance :
Meaning and rise of housing finance in India, Fixing the amount of loan, repricing of a loan,
floating vs. fixed rate, Practical problems on housing finance.
Unit 4: Venture Capital (9 hours)

Alternative Investments: Venture Capital: Concept, history and evolution of VC, the venture
investment process, various steps in venture financing, incubation financing, buy-outs. Real
Estate, Private Equities, Commodities: Concepts, Classification, history Insurance: concept,
classification, principles of insurance, IRDA and different regulatory norms, operation of
General Insurance, Health Insurance, Life Insurance. Securitization: concept, securitization as
a funding mechanism, Traditional and non-traditional mortgages, Graduated-payment
mortgages (GPMs), Pledged-Account Mortgages (PAMs), Centralized Mortgage obligations
(CMOs), Securitization of non-mortgage assets, Securitization in India. US 2008 sub-prime
mortgage crisis. Cases of Bear Stearn, Lehman Brothers.
Essential Readings:
1. Khan, M. Y., Financial Services, Tata McGraw –Hill.
2. Machiraju, Indian Financial System, Vikas Publishing House.
1. Verma, J. C., A Manual of Merchant Banking, Bharath Publishing House.
2. Sriram, K, Hand Book of Leasing, Hire Purchase & Factoring, ICFAI, Hyderabad.
3. Ennew. C., Watkins, T & Wright, M. Marketing of Financial Services, Heinemann
Professional.

67
DSE 1: STRATEGIC CORPORATE FINANCE

Practice (if any)
Strategic Corporate 4 3 1 0 Class XII Basic of
Finance Finance
DSE-1
Course Objectives:
• To know the details of corporate finance and the strategies involved in the corporate
decisions.
• To enable the students to steer the corporate strategies issues and challenges in better
manner.
• To provide the key concepts and ideas of decision tree analysis and the Black-Scholes
model in the valuation of real options.
• To assess the considerations and strategies involved in company disposals, including
non-core subsidiary sales, valuation, timing, and tax planning.
Learning Outcomes:
After studying this course the learners will be able:
• Understand the role of strategy and planning in financial decisions
• Understand the importance and components of a Value Added Statement.
• Identify different types of strategic costing and their relevance.
• Discuss strategic cost reduction techniques.
• Determine the feasibility of a management buy-out.
• Develop a business plan and financial forecasts for submission to potential funders.
• Define bankruptcy and Identify factors leading to bankruptcy.
• Understand the process of reorganizing distressed firms and liquidation process of
firms
• Gain an overview of company valuation.
• Analyze the substitutability of capital structure.
Course Contents:
Unit 1 (12 hours)
Introduction to strategic corporate finance: Strategy Vs Planning, significance of strategy in
financial decisions, Different types of financial strategy for Shareholders Wealth
Maximization, Economic Value Addition, Value added statement. Strategic Cost Management:
68
Traditional costing Vs Strategic Costing, Relevant costs Vs Irrelevant costs, Different types of
strategic costing and their relevance- Target Costing, Activity based Costing, Life Cycle
Costing, Quality Costing, Zero Based Budgeting, Strategic cost reduction techniques and value
chain analysis.
Unit 2 (12 hours)
Management Buy-outs: Establishing feasibility of the buy-out, Negotiating the main terms of
the transaction with the vendor including price and structure, Developing the business plan and
financial forecasts in conjunction with the buy-out team for submission to potential funders.
Management Buy-ins: Management Buy-in/Buy-outs (“BIMBOs”), Vendor-initiated
buyouts/buy-ins.
Real options: Financial and real options compared, various types of real options, the Black
Scholes model, Decision tree analysis, application of Real options, Drawbacks of Real options.
Unit 3 (12 hours)
Financial Distress and restructuring: Meaning of Bankruptcy, Factors leading to bankruptcy,
symptoms and predictions of bankruptcy, reorganization of distressed firms, liquidation of
firms.
Company disposals: sale of a non-core subsidiary, Exit strategy, valuation, timing of sale and
tax planning opportunities and calculation of the various tax implications.
Fundraising: identification of different sources of development capital, determination of capital
structure and factors affecting the capital structure, cost of capital and cost saving strategy.
Unit 4
(9 hours)
Company Valuation: an overview of valuation, valuation principles and practices, the impact
of “what if” scenarios. Other strategic issues: managing credit ratings, dividend and share
repurchase policy. Strategic risk management, substitutability of capital structure, risk
management choices, financial, physical and operational hedging.
Essential Readings:
1. Pettit, J., Strategic Corporate Finance Applications in Valuation and Capital Structure,
John willey & sons, Inc.
2. Damodaran, A., Corporate finance theory and practice; John willey & sons.
3. Jakhotia, Strategic Financial Management, Vikas Publication.
4. Damodaran, A., Applied Corporate Finance, John willey & Sons.

69
DSE 2: CORPORATE ANALYSIS & VALUATION
Practice (if any)
Corporate Analysis & 4 3 1 0 Class XII Basic of
Valuation Accounting
DSE-2 and finance
Objective:
• To enable the learners to analyse the health of a company through their annual reports
and will equip them to understand how to determines its value.
Learning Outcomes:
After studying this course the learner will be able to understand:
• The financial health of a company through qualitative and quantitative analysis.
• The basic of valuation and Cash Flows Forecasting.
• The various valuation techniques for company’s valuation and their application
Course Contents
Unit 1: Analysis of Corporate Financial Statements (12 hours)
Analysis of Corporate Financial Statements: Income statements and Balance sheets through
ratio analysis and analysing the Chairman’s statement, Directors’ report, management
discussion & analysis, report on corporate governance, auditor’s report to evaluate the financial
soundness of the company. Understanding financial statements of manufacturing and service
organisations. Common size analysis and relevant ratios (Study from the Annual Reports of
the companies).
Unit 2: Introduction to Valuation Techniques & Cash Flows Forecasting (12 hours)
Introduction to Valuation: Value and price, Balance sheet-based methods, Income statement-
based methods. Cash flow discounting-based methods. Deciding the appropriate cash flow for
discounting, The free cash flow to the firm, free cash flow to equity. Forecasting Cash flows:
simple model for forecasting income and cashflows. Earnings, Tax effect, Reinvestment needs,
dividend.
Unit 3. DCF Valuation, Discount Rates & Beta (12 hours)
70
Discounted Cash flow Valuation: Valuation of a company with no growth, constant growth,
variable growth and infinite life. Estimating Discount Rates – cost of equity, cost of debt, tax
shield, weighted average cost of capital. Calculation of beta, instability of beta, adjusted beta,
levered and unlevered beta.
Unit 4: Relative Valuation & Other Applications (9 hours)
Relative Valuation: standard multiples, comparable companies, potential pitfalls; estimating
multiples using regression. Valuation of brands and intellectual capital. Interest rates and
company valuation. Impact of inflation on valuation. Reconciling relative and discounted cash
flow valuation. Case studies in valuation.
Essential Readings:
1. Damodaran, A. (2016). Damodaran on Valuation: Security Analysis for Investment and
Corporate Finance. John Wiley & Sons.
2. Chandra, P. (2019). Corporate Valuation and Value Creation. Tata McGraw-Hill.
Education.
1. Foster, G. (1986). Financial Statement Analysis. Prentice Hall.
Latest Editions of the Readings may be used.
71
PROJECT
DSE 3:DSE 4: FINANCIAL
APPRAISAL
ECONOMETRICS
AND FINANCING
Practice (if any)
Financial Econometrics 4 3 1 0 Class XII Basic
DSE-4
understanding
of statistics
and time
series analysis
Learning Objectives
• Understand the statistical properties of financial returns, including their distribution, time
dependency, and linear dependency across asset returns.
• Develop knowledge of univariate time series analysis, including the Lag operator, ARMA
processes, and the Box-Jenkins approach.
• Gain proficiency in modeling volatility using conditional heteroscedastic models, such as
ARCH and GARCH models, and forecasting with GARCH models.
• Learn multivariate GARCH models, including the VECH model, diagonal VECH model,
and BEKK model, and estimation of a multivariate model.
• Acquire knowledge of vector autoregressive models, Granger causality tests, and Johansen
cointegration tests and their hypothesis testing methods.
Learning Outcomes:
• Analyze the statistical properties of financial returns and evaluate their distribution, time
dependency, and linear dependency across assets using knowledge and comprehension
skills.
• Create and apply univariate time series models, including AR, MA, and ARMA processes,
using synthesis and evaluation skills to forecast financial returns.
72
• Develop and estimate conditional heteroscedastic models, such as ARCH and GARCH
models, using analysis and evaluation skills to model and forecast volatility.
• Construct and evaluate multivariate GARCH models, including VECH, Diagonal VECH,
and BEKK models, using synthesis and evaluation skills to model volatility and
correlations.
• Evaluate and apply advanced econometric techniques, including VAR, GCT, and JCT,
using analysis and evaluation skills to test hypotheses and model complex relationships in
financial time series data.
Course Contents:
Unit 1: Statistical Properties of Financial Returns & Univariate Time Series and
Applications to Finance (15 hours)
Introduction Asset Returns, Calculation of Asset Returns (Continuous and discreate both),
Compare Continuous return with non-Continuous return and explain its benefits. Facts about
Financial Returns, Distribution of Asset Returns, Time Dependency, Linear Dependency
across Asset Returns.
Introduction to Univariate Time Series, The Lag Operator, Properties of AR Processes,
Properties of Moving Average Processes, Autoregressive Moving Average (ARMA)
Processes, The Box-Jenkins Approach.
Unit 2: Modelling Volatility – Conditional Heteroscedastic Models (9 hours)
Introduction to Modelling Volatility, ARCH Models, GARCH Models, Estimation of GARCH
Models, Forecasting with GARCH Model, Asymmetric GARCH Models, The GARCH-in-
Mean Model
Unit 3: Modelling Volatility and Correlations – Multivariate GARCH Models (9 hours)
Introduction to Modelling Volatility and Correlations, Multivariate GARCH Models, The
VECH Model, The Diagonal VECH Model, The BEKK Model, The Constant Correlation
Model, The Dynamic Correlation Model, Estimation of a Multivariate Model
Unit 4: Vector Autoregressive Models (VAR), Granger Causality Test (GCT) and
Johansen Cointegration Test (JCT) (12 hours)
Introduction to VAR, Deep understanding of VAR, Issues in VAR, Hypothesis Testing in VAR.
Introduction to GCT, Deep understanding of GCT, Issues in GCT, Hypothesis Testing in GCT
Introduction to JCT, Deep understanding of JCT, Issues in JCT, Hypothesis Testing in JCT.
Essential Essential/ recommended Readings
• Brooks, C. (2014). Introductory econometrics for finance (3rd ed.). Cambridge University
Press.
73
• Tsay, R. S. (2010). Analysis of financial time series (3rd ed.). Wiley.
• Bollerslev, T. (2008). Glossary to ARCH (GARCH). Journal of Economic Perspectives,
15(4), 171-174. doi: 10.1257/jep.15.4.171
• Engle, R. F., & Kroner, K. F. (1995). Multivariate simultaneous generalized ARCH.
Econometric Theory, 11(1), 122-150. doi: 10.1017/S0266466600009063
Suggestive Readings
• Brooks, C (2019). Introductory Econometrics for Finance. Cambridge University Press.
• Pindyck, R.S. and Rubinfeld, D.L, Econometric Models and Economic Forecasts.
• Ramu, R (2002). Introductory Econometrics with Applications (5th ed.). Thomson South-
Western:

74
DSE 8: MARKETING OF FINANCIAL SERVICES
Practice (if any)
Marketing of Financial 4 3 1 0 Class XII NA
Services
DSE-8
Course Objective:
• To introduce students to the marketing of financial services. All financial institutions,

including consumer banks and corporate finance services, practice some form of marketing.
Some firms market themselves better than others, as evidenced in the competitive value of
their brands. This course also operationalizes several marketing concepts such as
segmentation, targeting, and positioning.
Learning Outcomes:
After studying this course the student will be able to:
• Explain and illustrate some of the frameworks and approaches that are helpful in marketing
financial services.
• Outline how to efficiently manage multiple product or brand portfolios across multiple
customer segments, and how to develop an effective marketing strategy in modern financial
service organizations.
Course Contents:
Unit 1: Introduction to Marketing of Services (12 hours)
Growth of the Service Sector – The Concept of Service – Characteristics of Services,
Classification of Services, Service Marketing Mix (Additional Dimensions in Services
Marketing – People, Physical Evidence and Process). Internal Marketing of a Service - External
versus Internal Orientation of Service Strategy, Service Encounter, Service Failure and Service
Recovery, learning from customer feedback.
Unit 2: Marketing Strategy (12 hours)
Planning, organizing and implementing marketing operations; marketing as a management
function. Market Research – Establishing a marketing information system; the marketing
research process. Market segmentation – Target marketing; Market segmentation, targeting and
positioning the financial services organization in the market place.
Unit 3: Banking and Insurance Services (12 hours)
Retail Financial Services: Retail banking, meaning of banking business, introduction to various
bank products, selling bank products. Concept of cross selling, Impact of technology on bank
marketing (Internet banking, mobile banking and UPI). Insurance – Meaning, advantages
75
various types of insurance, financial planning process. Risk Management – Strategy to cover
risk, introduction to IRDAI, selling of insurance plans. Bancassurance – Bank as a distribution
channel for insurance services.
Unit 4: Regulations Governing Financial Services Marketing (9 hours)
Ethical issue in the marketing of financial services, Ethics in relation to the individual and
society as a whole. Mutual Fund Structure, sales and distribution channels. Distribution
channels; the impact of technology; online marketing, The dimension of customer care;
services quality and services recovery; global marketing.
Essential Readings:
1. Zeithaml, V. A., Bitner, M. J., Gremler, D. D., & Pandit, A. (n.d.). Services Marketing.
McGraw Hill.
2. Avdhani, V. A. (n.d.). Marketing of Financial Services. HPH.
3. Gupta, P. K. (n.d.). Insurance and Risk Management. HPH.
4. Estelami, H. (n.d.). Marketing Financial Services.
76
DSE 10: ENTREPRENEURIAL FINANCE
Practice (if any)
Entrepreneurial 4 3 1 0 Class XII Basic
Finance understanding of
DSE-10 concepts related
Entrepreneurship
Course Objectives:
• To develop an understanding of the principles of entrepreneurial finance and the role
of finance in the successful venture life cycle.
• To identify and analyze the key elements of a business plan and choose an appropriate
form of business organization for the venture.
• To apply short-term and long-term financial planning techniques to forecast sales,
estimate sustainable growth rates, and determine additional financing needs to support
growth.
• To analyze different valuation methods, including discounted cash flow and venture
capital valuation, and apply them to value early-stage ventures and venture capital
investments.
• To evaluate different financing alternatives, including professional venture capital,
business incubators, seed accelerators, and foreign investor funding sources, and design
appropriate security structures for growing ventures, such as common stock, preferred
stock, convertible debt, and warrants/options.
Learning Outcomes:
Upon completion of the course the learner will be competent to:
• Apply the principles of entrepreneurial finance and understand the role it plays in the
successful venture life cycle, including the key elements of a business plan and forms
of business organizations.
• Develop short-term and long-term financial plans using systematic forecasting
techniques and estimate sustainable sales growth rates and additional financing needed
to support growth.
• Evaluate early-stage ventures using different valuation methods, including present
value, discounted cash flow, and venture capital valuation techniques.
77
• Compare and analyze different financing alternatives, including professional venture
capital, business incubators, seed accelerators, and foreign investor funding sources,
and design appropriate security structures for growing ventures.
• Adopt a life cycle approach for entrepreneurial finance and understand financial
bootstrapping and business angel funding as alternative financing options for the
different stages of the venture life cycle.
Course Contents
Unit I: Introduction to Finance for Entrepreneurs (9 hours)
Principles of Entrepreneurial Finance, Role of Entrepreneurial Finance. The Successful
Venture Life Cycle. Key Elements of a Business Plan. Forms of Business Organisations and
Choosing the Appropriated Organization. Financing through the Venture Life Cycle, Financial
Bootstrapping and Business Angel Funding. Life Cycle Approach for Entrepreneurial Finance.
Unit 2: Financial Planning for Enterprises (12 hours)
Short Term Financial Planning: Short Term Cash Planning Tools, Cash Planning from a
Projected Monthly Balance Sheet. Long Term Financial Planning: Systematic Forecasting –
Forecasting Sales for Seasoned Firms, Forecasting Sales for Early-Stage Ventures. Estimating
Sustainable Sales Growth Rates. Estimating Additional Financing needed to support Growth.
Unit 3: Valuing Ventures (12 hours)
Valuing Early-Stage Ventures: Concept, Basic Mechanics of Valuation – Present Value
Concept, Estimates and Discounted Cash Flow. Just in Time Equity Valuation. Venture Capital
Valuation Methods: Review of Basic Cash Flow Based Equity Valuations, Basic Venture
Capital Valuation – Using Present Values and Future Values. Earning Multipliers and
Discounted Dividends.
Unit 4: Structuring Financing for Growing Venture (12 hours)
Professional Venture Capital – History and Overview, Professional Venture Investing Cycle.
Other Financing Alternatives – Business Incubators and Seed Accelerators; Intermediaries,
Facilitators and Consultants; Business Crowdsourcing and Crowdfunding; Commercial and
Venture Bank Lending, Foreign Investor Funding Sources. Designing Security Structures –
Common Stock, Preferred Stock, Convertible Debt, Warrants and Options, Other Concerns.
Essential Readings
4. Leach, C. J., Melicher, R. W. (2017). Entrepreneurial finance. Cengage Learning.
5. Stancill, J. M. (2016). Entrepreneurial finance: A casebook. Thomson.
6. Shepherd, D. A., & Zacharakis, A. (2014). Entrepreneurial finance: Strategy, valuation,
and deal structure. Academic Press.
78
4. Hornsby, J. S., Kuratko, D. F., & Zahra, S. A. (2002). Middle managers' perception of
the internal environment for corporate entrepreneurship: assessing a measurement scale.
Journal of business venturing, 17(3), 253-273.
5. Sahlman, W. A. (1990). The structure and governance of venture-capital organizations.
Journal of financial economics, 27(2), 473-521.
6. Hsu, D. H. (2004). What do entrepreneurs pay for venture capital affiliation? Journal of
finance, 59(4), 1805-1844.

79
DSE 12: WEALTH MANAGEMENT
Practice (if any)
Wealth Management 4 3 1 0 Class XII NA
DSE-12
Course Objectives:

dimensions of wealth management.
• To understand and do planning for their tax liabilities, investments, insurance coverage,
retirement and estate needs.
Learning Outcomes:
After the completion of this course the student will be able:
 To provide an overview of various aspects related to wealth management.
 To acquaint the learners with issues related to taxation in wealth management.
 To study the relevance and importance of insurance in wealth management.
 To understand the importance and process of choosing right investments.
 To understand various components of retirement and estate planning.
Course Contents
Unit I: Basics of Wealth Management and Tax Planning (12 hours)
Introduction to Wealth Management, Need for Wealth Management, Components of Wealth
Management, Process of Wealth Management, Code of Ethics for Wealth Managers, Wealth
Management in India. Tax Planning – Tax Avoidance versus Tax Evasion, Fundamental
Objectives of Tax Planning, Tax Structure in India for Individuals, Common Tax Planning
Strategies – Maximizing Deductions, Income Shifting, Tax-Free and Tax-Deferred Income.
Unit 2: Managing Insurance Needs (12 hours)
80
Coinsurance.
Unit 3: Managing Investments (12 hours)
Unit 4: Retirement Planning and Estate Planning (9 hours)

Retirement Planning – Role of Retirement Planning in Personal Financial Planning, Pitfalls to
Estate Planning – Fundamentals of Estate Planning, Impact of Property Ownership and
Beneficiary Designations, Estate Planning Documents, and Executing Basic Estate Planning.
Essential Readings:
1. Billingsley, R. S., Gitman, L. J., & Joehnk, M. D. (2017). Personal Financial Planning.
Cengage Learning.
2. Tillery, S. M., & Tillery, T. N. (n.d.). Essentials of Personal Financial Planning.
1. Indian Institute of Banking & Finance. (2017). Introduction to Financial Planning (4th
Edition).
2. Sinha, M. (2017). Financial Planning: A Ready Reckoner. Mc Graw Hill.
81

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Bachelor of Business Administration (Financial Investment Analysis)BBA (FIA)

DSC 1: FINANCIAL ACCOUNTING & ANALYSIS

Course Title Total Components Eligibility Prerequisite if any

Financing 4 3 1 0 Class XII NIL

Course Objectives: To familiarize students with the mechanics of preparation of Financial

Learning Outcomes: with this course the student will:

Unit 1 (16 hours)

Unit 2 (16 hours)

Unit 3 (12 hours)

Presentation of Financial Statements, IND-AS 7: Cash Flow Statement, IND-AS 109:

Unit 4 (16 hours)

Essential Readings: Latest editions of the following to be used:

Additional Readings: Latest editions of the following to be used:

Teaching Learning Process:

Course Title Total Components Eligibility Prerequisite if any

4 3 1 0 Class XII NIL

Unit 1 (12 hours)

Unit 2 (16 hours)

Unit 3 (16 hours)

Unit 4 (16 hours)

Teaching Learning Process:

DSC 3: STATISTICS FOR BUSINESS DECISIONS

Course Title Total Components Eligibility Prerequisite if any

Statistics for 4 3 1 0 Class XII NIL

Teaching Learning Process:

GE1: FUNDAMENTALS OF FINANCIAL MANAGEMENT

Course Title Total Components Eligibility Prerequisite if any Department offering

Fundamentals 4 3 1 0 Class XII NIL Finance and

Course Objectives: To provide an understanding of the essential elements of the financial

Unit 1 (12 hours)

Unit 2 (20 hours)

Unit 3 (16 hours)

Unit 4 (12 hours)

Teaching – Learning Process:

Course Title Total Components Eligibility Prerequisite if any Department offering

Fundamentals of 4 3 1 0 Class XII NIL Finance and

Unit 2: Indian Securities Market (16 hours)

Unit 3: Online Security Trading (16 hours)

Unit 4: Investing in Mutual Funds (16 hours)

Teaching Learning Process:

GE5: ESSENTIALS OF FINANCIAL INVESTMENTS

Course Title Total Components Eligibility Prerequisite if any Department offering

Essentials of 4 3 1 0 Class XII NIL Finance and

Unit 1: Investments – An Overview (12 hours)

Unit 2: Risk – Return Analysis (16 hours)

Unit 3: Security Analysis (16 hours)

Unit 4: Fundamentals of Valuation and Portfolio Analysis (16 hours)

Teaching Learning Process:

Course Title Total Components Eligibility Prerequisite if any Department offering

Emerging 4 3 1 0 Class XII NIL Finance and

Unit 1 (16 hours)

Unit 2 (16 hours)

Unit 3 (20 hours)

Unit 4 (12 hours)

Teaching Learning Process:

Course Title Total Components Eligibility Prerequisite if Department offering

Economic 4 3 1 0 Class XII NIL Finance and

Unit 4: The Foreign Exchange Management Act (12 hours)

Teaching – Learning Process:

DISCIPLINE SPECIFIC CORE COURSE – 4 (DSC-4):