B. K.

BIRLA COLLEGE (AUTONOMOUS), KALYAN

Conducted by Kalyan Citizens’ Education Society
Affiliated to University of Mumbai

‘College of Excellence’status by UGC(2015 - 2020)

Reaccredited by NAAC (3rd Cycle) with ‘A’ Grade (CGPA 3.58)(2014 - 2021)
‘Performance Excellence Trophy – 2011 in Education’ by IMC RBNQA Trust
‘Best College Award’ by University of Mumbai (2009)
DBT ‘Star Status’(Department of Botany, Chemistry, Microbiology, Physics and Zoology)
DBT ‘Star Scheme’(Department of Mathematics, I.T. & C.S.)
ISO 9001: 2015 Certified

Master in Science (Finance)

Two Year Integrated Programme- FourSemesters
Course Structure
Under Choice based Credit Grading Semester System
Faculty of Management

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Program Specific Outcomes

M.Sc. (Finance)

On completion of the M.Sc. (Finance) programme, students will be able to -

PSO 1 Demonstrate knowledge and application ability of securities markets, examining the valuation of

securities, and modern portfolio management

PSO 2 Build the vision of the complete financing process and be prepared for the gap between buy sides and

sell sides of financial instruments.

PSO 3. Apply econometric techniques to finance data to support investment decisions and financing

decisions.

PSO 4. Demonstrate critical thinking skills, making the intellectual connection between quantitative and

qualitative tools.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Programme Structure
Courses of Masters in Science (Finance) Programme

Foundation Course
Course College Code Title of the Course Contact
Hours
1 - Basic Economics 06
2 - Basic Quantitative Methods 06
3 - Basic Accounting 06
4 - Basic Computing 06

Semester I
Course College Code Title of the Course Contact Credit
Hours
1 BPSFNTECO101 Economics 03 04
2 BPSFNTQMS102 Quantitative Methods 03 04
3 BPSFNTAFR103 Accounting and Financial Reporting 03 04
4 BPSFNTFMT104 Financial Management 03 04
5 Costing and Control Systems 03 04
6 Taxation (Direct and Indirect) 03 04
7 BPSFNPQMS105 Practical 1: Quantitative Methods 03 04
8 BPSFNPAFR106 Practical 2: Accounting and Financial Reporting 03 04
9 Seminar Paper 1 03 04
10 Seminar Paper 2 03 04
Total Credits 40

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Semester II

Course College Code Title of the Course Contact Credit

Hours
1 BPSFNTCGRE205 Corporate Governance & Regulatory 03 04
Environment
2 BPSFNTCOFN206 Corporate Finance 03 04
3 BPSFNTEMFM207 Econometrics and Financial Modeling 03 04
4 BPSFNTFMIN208 Financial Markets and Institutions 03 04
5 BPSFNTFIIS209 Fixed Income Securities 03 04
6 Investment Banking and PEVC 03 04
7 BPSFNPEMFM203 Practical 3: Econometrics and Financial 03 04
Modeling
8 BPSFNPFIIS204 Practical 4: Fixed Income Securities 03 04
9 Seminar Paper 3 03 04
10 Seminar Paper 4 03 04
Total Credits 40

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Foundation
Sr. No. Course Code Course Name
1 - Basic Economics
Syllabus
01 Nature, scope and methods of economics
02 Markets and Resource Allocation: Wants, limited resources and choice; Demand curves and
functions; Supply curves and functions; Price determination; Changes in market price and
quantity; Resource allocation in different economic systems.
03 Demand, Revenue and Consumer Behaviour: Price elasticity of demand; Price elasticity of
demand (PED) and revenue; Total, average and marginal revenue; Elasticity and tax
incidence; Other elasticity of demand; Veblen effect and consumer behaviour; Consumer
surplus; consumer choice, utility, diminishing marginal utility, consumer choice and
equilibrium, consumer surplus, indifference curveanalysis.
04 Supply, Production and Cost: Factors of production; Combining factors of production: the
laws of returns; Costs of production: short run; Costs of production: long run; Deciding
whether to produce in the short run and the long run; Price elasticity of supply (PES);
Outsourcing and cost; Governments, location and cost; Producersurplus.
05 Market Structures: Perfect competition; Contestable market theory; Monopoly; Monopolistic
competition;Oligopoly.
06 Market Failure, Regulation and Competition: Types of market failure; Correcting market
failures; Deregulation and privatisation; competition policy, overview of competition laws in
India.
07 Money and Banking: The Origins of Money; Money Supply; Money Creation Process; Central
Bank Tools for Changing the MoneySupply.
08 Measuring Economic Performance: National Income Accounting; National income:
definitions and measurement; National income data: international comparisons; Components
of the circular flow; Equilibrium in the circular flow; Changes in national income; National
income multiplier; Inflationary and deflationary gaps; Measuring Price Changes and the
UnemploymentRate.
09 Economic Changes and Cycles: Inflation and Deflation; Business Cycles; Economic Growth;
National IncomeDetermination.

Reference:
1. Economics for Business and Management 3e by Griffiths and Wall, Pearson (2011).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Foundation
Sr. No. Course Code Course Name
2 - Basic Quantitative Methods
Syllabus
01 Introductory Algebra
a. Properties and Principles of Equations - Addition and Subtraction Properties of
Equations; Multiplication and Division Properties of Equations; Using the Properties
to Simplify Terms in Equations, including Variables; Transformation Principles;
Solving Problems using Equations andInequalities.
b. Exponents and Roots - Bases, Factors, and Exponents; Expressing Exponents in
Words; Negative Exponents and Negative Bases; Adding and Subtracting Numbers
with Exponents; Multiplying and Dividing Numbers withExponents.
c. Polynomials - Adding and Subtracting Polynomials; Multiplying and Dividing
Polynomials; The Product of Powers and the Power of a Product; Uses of Polynomials
– Area and VolumeProblems.
02 Linear Equations: Graphs of linear equations; Algebraic solution of simultaneous linear
equations; Supply and demand analysis; Algebraic solution of simultaneous equations;
Transposition of formulae; National income determination using linearequations.
03 Non-linear Equations: Quadratic functions; Revenue, cost and profit; Indices and logarithms;
Exponential and natural logarithmfunctions.
04 Differentiation and Integration: The derivative of a function; Rules of differentiation;
Marginal functions; Optimization of economic functions; derivative of the exponential and
natural logarithm functions; Indefinite integration; Definiteintegration.
05 Combinatorial Problems: The Addition Principle; Tree Diagrams and the Multiplication
Principle; Permutations and Combinations; Permutations withRepetitions.
06 Descriptive Statistics: Meaning and nature of statistics; sampling and data collection;
presenting and describing small data sets; presenting and describing large data sets; measures
of location; measures of variation; indexnumbers.
07 Probabilities: Relative Frequency and the Axioms of Probabilities; Probability Assignments
by Combinatorial Methods; Independence; Conditional Probabilities; Theorem of Total
Probability and the Theorem of Bayes. Probability Distributions: The binomial distribution;
Poisson distribution; exponential distribution; normaldistribution.
08 Modelling simplerelationships: Relationships, functions and equations; Linear functions;
Least-squares linear regression; appropriateness and correlation.

Reference:
1. Mathematics for Economics and Business 5e by Ian Jacques, FT Prentice Hall(2006).
2. Statistics for Business and Economics by David R. Anderson, Dennis J. Sweeney, Thomas A.
Williams, South Western Cengage Learning(2008).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Foundation
Sr. No. Course Code Course Name
3 - Basic Accounting
Syllabus
01 Context and Purpose of Financial Accounting: Nature of financial and managerial accounting
information; accounting profession and accounting careers; accounting equation; Core
financialstatements.
02 The Use of Double-Entry and accounting systems: Accounts, debits and credits; The journal;
The general ledger; Trial balance; Computerized processing systems; T-Accounts; Double-
entry book-keeping principles including the maintenance of records and sources of
information; Recording Transactions and events - Sales and purchases; cash; stock; tangible
fixed assets; depreciation; intangible fixed assets and amortisation; accruals and
prepayments; debtors and creditors; provisions and contingencies; capital structure and
finance costs.
03 Income Measurement: Measurement transactions and events; periodicity assumption and its
accounting implications; Basic elements of revenue recognition; Basic elements of expense
recognition; adjusting process and related entries; Accrual versus cash-basis accounting.
04 The Reporting Cycle: The reasons for and objectives of financial reporting; users’ and
stakeholders’ needs; the main elements of financial reporting; Preparation of financial
statements; accounting cycle and closing process; importance of business liquidity and the
concept of an operatingcycle.
05 Qualitative Characteristics of Financial Information: Define, understand, and apply accounting
concepts, including concept of true and fair view, going concern, accruals, consistency,
materiality, relevance, reliability, substance over form, neutrality, prudence, completeness,
comparability, understandability, and business entityconcept.
06 Managerial Accounting: Distinguishing characteristics of managerial accounting; Managerial
accounting's role in planning, directing, and controlling; Key production components: direct
materials, direct labor, and factory overhead; Product costs versus period costs; Categories of
inventory for manufacturers and related financial statementimplications.
07 Cost-Volume-Profit and Business Scalability: Cost behavior patterns and implications for
managing a business; Methods of cost behavior analysis; Break-even and target income
analysis; Cost and profit sensitivity analysis; Cost-volume-profit analysis for multiple
products; Critical assumptions of cost-volume-profit modeling.

Reference:
1. Financial and Management Accounting: An Introduction by Pauline Weetman, Pearson (2010).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Foundation
Sr. No. Course Code Course Name
4 - Basic Computing
Syllabus
01 Introduction to Computer Programming: Introduction to computers, programming and
algorithms, Overview of Software Development; Phases in the Execution of a Computer
Programme; Overview of Problem-Solving Techniques; Overview of Programme Types;
Identifying the phases in the execution of a computer programme; Computer programmes
and programming languages; Problem-solvingtechniques.
02 Using Data and Variables: Fundamental concepts of variables and data types; Using
Variables; Using Operators; Using ProgrammingSyntax.
03 Using Programme Logic: Common programming constructs; Control programme flow;
Implementing conditional expressions and looping statements; Using Branching; Using
Loops; Identifying LogicErrors.
04 Using Procedures and Functions: Use of procedures and functions to create more modular
computer programmes; Arguments and parameters; Identifying Functions; Passing
Arguments to aProcedure.
05 Developing a User Interface: Designing user interfaces for software applications; Best
practices for user interface design; Identify the features of a good user interface; Build
Windows-based and Web-based userinterfaces.
06 Programming Approaches: Common programming methodologies; procedural
programming; object-oriented programming; Using the Procedural Programming Approach;
Using the Object-Oriented Programming Approach; Examining Classes; Features and
advantages of object-orientedprogramming.
07 Software Development Process: Phases of the software development lifec; Introduction to the
Unified Modeling Language; Developing Use-Case Diagrams; Examining Other UML
Diagrams; Introduction to object oriented programming (OOP) Taxonomies, inheritance,
modularity and reusability; Introduction to advanced data structures and classes methods
and attributes, public, private andprotected.
08 Introduction to C/C++ ; Basic I/O, variables, conditional statements; loops;and functions,
scope, header files, break, continue, Exception handling; Function variables: scope, visibility
and lifetime Call by value/call by reference; Arrays, strings and pointers Static versus
dynamic memory allocation, multidimensionalarrays.

Reference:
1. Concepts, Techniques, and Models of Computer Programming by Peter Van Roy and Seif Haridi,
MIT Press (2004).
2. Problem Solving and Programming Concepts by Maureen Sprankle, Jim Hubbard (Prentice Hall),
2008

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Semester I

Course College Code Title of the Course Contact Credit

Hours
1 BPSFNTECO101 Economics 03 04
2 BPSFNTQMS102 Quantitative Methods 03 04
3 BPSFNTAFR103 Accounting and Financial Reporting 03 04
4 BPSFNTFMT104 Financial Management 03 04
5 Costing and Control Systems 03 04
6 Taxation (Direct and Indirect) 03 04
7 BPSFNPQMS105 Practical 1: Quantitative Methods 03 04
8 BPSFNPAFR106 Practical 2: Accounting and Financial Reporting 03 04
9 Seminar Paper 1 03 04
10 Seminar Paper 2 03 04
Total Credits 40

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Economics

Semester: I

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the various concepts of Micro-Economics.

CO2 Explore more knowledge about Macro-Economics.

CO3 Understand the different trade theories & factors of International Economics.

CO4 Grab knowledge & build better fundamentals theory of financial economics

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
1 BPSFNTECO101 Economics
Syllabus
01 Microeconomics: Consumer Theory: Choice, Preferences, Utility; Demand, Revealed Preferences,
Comparative Statics; Consumer Surplus, Aggregation; Variations to the Basic Choice Model (Time,
Uncertainty). Producer Theory: Technology, Profit Maximization, Cost Minimization; Supply,
Aggregation Markets; Monopoly; Oligopoly and Game Theory; Walrasian Equilibrium. Market Failures:
Externalities; Public Goods; Small Number of Agents, Nash Bargaining. Asymmetric Information:
Adverse Selection, Moral Hazard, Principal-Agent Model; Auction Design; Voting and
OtherApplications.

02 Macroeconomics: An overview of the modern market economy as a system for dealing with the
problem of scarcity. The analysis of relationships among such variables as national income,
employment, inflation and the quantity of money.

03 Managing aggregate demand; fiscal policy; money and the banking system; monetary policy; the
debate over monetary and fiscal policy; budget deficits in the short and long run; trade- off between
inflation and unemployment.

04 InternationalEconomics: Trade Theories: Ricardian Trade Model; Modern Trade Theory; Trade and
Income Distribution; Alternative Trade Theories. Trade Policy: Commercial Policy: Tariffs and Nontariff
Trade Barriers; Political Economy of Trade Policy; Economic Integration (Free Trade Agreements);
International Factor Movements and Multinational Enterprises; Balance of Payments; Foreign
Exchange Market; Exchange Rate Determination; Modern Exchange Rate System and Policies.

05 FinancialEconomics: Fundamental Theory of Finance: Absence of Arbitrage and Efficient Markets;

Existence of Positive Linear Pricing Rule; Risk Neutral (Martingale) Probabilities and State Pricing.
Preferences and Uncertainty: Expected Utility Theory; Linear Risk Tolerance Preferences; Jensen’s
Inequality and Risk Aversion; Ordering Preferences by Risk Aversion; Stochastic Dominance; Insurance
and Certainty Equivalence; Alternative Psychological and Behavioral Approaches.

Reference:
1. Economics by N. Gregory Mankiw and Mark P. Taylor (2006), Thompson Learning.
2. Intermediate Microeconomics 7e by Varian, Hal R., W.W. Norton(2005).
3. Macroeconomics 6e by Abel, Bernanke, and Croushore, Prentice Hall(2007).
4. International Economics 13e by Robert J. Carbaugh ITP(2010).
5. Financial Economics 2e by Z. Bodie (2008), Pearson EducationIndia.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Quantitative Methods

Semester: I

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand basic probability models & importance of Markov Chains.

CO2 Gain knowledge about random work in Euclidean space, gambler’s Ruin & Arc
Sine Laws.
CO3 Able to understand Mathematical Programming.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
2 BPSFNTQMS102 Quantitative Methods
Syllabus
01 Review of basic probability models; combinatorics; random variables; discrete and continuous

probabilitydistributions.

02 Generating Functions: Discrete Distributions; Branching Processes; ContinuousDensities.

03 Markov Chains: Introduction; Absorbing Markov Chains; Ergodic Markov Chains;

Fundamental Limit Theorem; Mean First PassageTime.

04 Random Walks: Random Walks in Euclidean Space; Gambler's Ruin; Arc SineLaws

05 Inferential Statistics: Estimating and Confidence intervals; Hypothesis testing; Non-

parametrictests.

06 Financial Calculus: Taylor series; Ordinary differential equations; Similarity solutions;

Brownian motion; “tochastic differential equations; Itô’s lemma; Continuous-time stochastic

differential equations as discrete-time processes; Correlated random walks; Using Itô’s lemma

to manipulate stochastic differentialequations.

07 Mathematical Programming: Linear Programming; Solving Linear Programs graphically;

Simplex Method; An introduction to non-linearprogramming.

Reference:
1. Probability and Random Processes by Grimmett and Stirzaker, Oxford University Press(1997).
2. Time Series Analysis by J.D. Hamilton, Princeton University Press(1994).
3. Quantitative Finance 2e by Paul Wilmott, John Wiley(2007)
4. Mathematics for Finance by Marek Capinski and Tomasz Zastawniak, Springer(2003)
5. Methods of Mathematical Finance by Ioannis Karatzas, Steven E. Shreve (Springer) 2011.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Financial Accounting, Reporting & Analysis

Semester: I

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the basic principle of Accounting

CO2 Understand the basic principle of Financial Reporting & interpreting financial
statements

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
3 BPSFNTAFR103 Accounting, Financial Reporting & Analysis
Syllabus
01 Context and Purpose of Financial Reporting: The reasons for and objectives offinancial reporting;

users’ and stakeholders’ needs; the main elements of financial reporting.

02 The qualitative characteristics of financial information: Define, understand, and apply accounting

concepts, including concept of true and fair view, going concern, accruals, consistency, materiality,

relevance, reliability, substance over form, neutrality, prudence, completeness, comparability,

understandability, and business entityconcept.

03 Regulatory Framework of Accounting: Reasons for existence of a regulatory framework; legal

provisions relating to accounting; setting Indian accounting standards, convergence of international

accounting standards, International Financial Reporting Standards(IFRS).

04 Principles of Taxation: Principles of taxation, concepts of tax evasion, tax avoidance, and tax planning,

tax havens, overview of income tax, accounting for income tax, deferred tax assets, and deferred

taxliability.

05 Accounting and Analysis of Asset: Historical cost and conservatism, asset reporting challenges,

common misconceptions about assetaccounting.

06 Accounting and Analysis of Liability and Equity: Liability definition and reporting challenges;

common misconceptions about liability accounting; equity definition and reporting challenges.

07 Revenue Analysis: Revenue recognition rule, revenue recognitionchallenges

08 Expense Analysis: Matching and conservatism, expense reportingchallenges.

09 Credit Analysis and Distress Prediction: Credit analysis process, prediction of distress and turnaround.

10 Business Combinations: The concept and principles of a group; concept of consolidated financial

statements; preparation of consolidated financialstatements.

11 Interpretations of financial statements: Ratio analysis; cash flow analysis; funds flow analysis; value

added statements; limitations of financial statements; Calculation and interpretation of accounting

ratios and trends to address users’ and stakeholders’ needs; limitations of interpretationtechniques.

Reference:
1. Financial Reporting and Analysis by Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred
Mittelstaedt McGraw-Hill(2011).
2. International Financial Reporting and Analysis by Alexander, Britton, Jorissen Thomson (2007).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Financial Management

Semester: I

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the role of Corporate Finance in organization.

CO2 Understand the working of financial markets.

CO3 Knowledge about Planning their financials appropriately.

CO4 Understand the formulation of Capital Structure.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
4 BPSFNTFMT104 Financial Management
Syllabus
01 Introduction: Role of the corporate financial manager (CFO); corporate finance decisions;

goals of firm - profit maximization v. shareholders' wealth maximization; basic

responsibilities of financial managers; social responsibility of the firm; agency relationships

andconflicts.

02 Environment of finance: Financial markets – capital markets (equity markets, debt market),

money markets, foreign exchange market, and derivatives markets; term loans and leases;

accounting treatment of leases; convertibles, andwarrants.

03 Valuation Concepts: Future values and compound interest; present values; level cash flows:

perpetuities and annuities; valuation of long-term securities; risk and return; measuring

portfolio risk.

04 Financial Planning: Introduction to financial planning; financial planning models;

components of a financial planning model; pitfalls in model design; role of financial planning

models; external financing and growth; deferred taxes and financial analysis; sustainable

growthmodeling.

05 Working Capital Management and Short-Term Planning: Components of working capital,

working capital and the cash conversion cycle, working capital trade-off; links between long-

term and short-term financing; tracing changes in cash and working capital; cash budgeting,

forecast sources of cash, forecast uses of cash, a short-term financing plan, options for short-

term financing, evaluating the plan, sources of short-term financing; cash management,

management of accountreceivables.

06 Investment in Capital Assets: Capital budgeting and estimating cash flows; capital budgeting

techniques; multiple internal rates of return; replacement chain analysis; risk and managerial

options in capitalbudgeting.

07 Cost of Capital, Capital Structure, and Dividend Policy: Required returns and the cost of

capital; operating and financial leverage; capital structure determination; theories of capital

structure; dividend policy; theories of relevance and irrelevance of dividendpolicy.

Reference:
1. Fundamentals of Financial Management by Eugene F. Brigham, Joel F. Houston (2011), South Western (Cengage
Learning)
2. Fundamentals of Financial Management by James C. Van Horne, John M. Wachowicz(2008),Prentice Hall

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Costing & Control System

Semester: I

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the basic costing principles.

CO2 Understand the importance of process costing, absorption costing & Marginal
costing
CO3 Knowledge about budgetary controls & standard costing.

CO4 Understand the stock valuation methods & application of costing concepts in
service & trading sector

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
5 Costing and Control System
Syllabus
01 Preparation of Cost Sheet, Method of Costing

02 Process Costing, Absorption Costing, Marginal Costing, Cost Volume Profit Analysis and

Decision Making, Relevant Cost and Differential Cost

03 Budgetary Controls, Standard Costing

04 Inventory Management and Cost Audit, Activity Based Costing, Application of Costing

Concepts in the Service and Trading Sector

Reference:
1. Horngren's Accounting (12e) by Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura (2017). New
Delhi: Pearson (India) Limited.
2. Management Accounting for profit control by Keller & Ferrara
3. Cost Accounting for Managerial Emphasis by Horngreen
4. T. P. Ghosh: Financial Accounting for managers(Taxmann

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Taxation (Direct & Indirect)

Semester: I

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Gain extensive knowledge about taxation system in India.

CO2 Understand the application of taxation on Income of individuals & companies.

CO3 Develop culture to understand the return filling and for better future planning.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
7 Taxation (Direct and Indirrect)
Syllabus
01 Direct Tax : Income Tax Act and Rules

02 Computation of total income and determination of Tax Liability – Individuals & Company

03 Indirect Taxes: Central Excise and CENVAT, Customs Duty , Service ax

04 Central Sales Tax and VAT, Maharashtra Value Added Tax and Primer on GST

Reference:
1. Taxation growth and Fiscal Institutions by Albert Lee

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester I
Sr. No. Course Code Course Name
5 BPSFNPQMS105 Practical 1: Quantitative Methods
The application of the following topics to real world issues in Finance:

• • Generating Functions: Discrete Distributions; Branching Processes; Continuous Densities.

• Markov Chains: Introduction; Absorbing Markov Chains; Ergodic Markov Chains;

Fundamental Limit Theorem; Mean First Passage Time.

• Random Walks: Random Walks in Euclidean Space; Gambler's Ruin; Arc Sine Laws

• Inferential Statistics: Estimating and Confidence intervals; Hypothesis testing; Non- parametric

tests.

• Financial Calculus: Taylor series; Ordinary differential equations; Similarity solutions;

Brownian motion; “tochastic differential equations; Itô’s lemma; Continuous-time stochastic

differential equations as discrete-time processes; Correlated random walks; Using Itô’s lemma

to manipulate stochastic differential equations.

• Mathematical Programming: Linear Programming; Solving Linear Programs graphically;

Simplex Method; An introduction to non-linear programming.

Sr. No. Course Code Course Name

6 BPSFNPAFR106 Practical 2: Accounting and Financial Reporting
The application of the following topics to real world issues in Finance:

• • Analysis of an annual report of a listed company.

• Analysis of a prospectus issued by a company launching an initial public

offering (IPO)

• Analysis of an industry report prepared by a major brokerage house.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Semester II

Course College Code Title of the Course Contact Credit

Hours
1 BPSFNTCGRE205 Corporate Governance & Regulatory 03 04
Environment
2 BPSFNTCOFN206 Corporate Finance 03 04
3 BPSFNTEMFM207 Econometrics and Financial Modeling 03 04
4 BPSFNTFMIN208 Financial Markets and Institutions 03 04
5 BPSFNTFIIS209 Fixed Income Securities 03 04
6 Investment Banking and PEVC 03 04
7 BPSFNPEMFM203 Practical 3: Econometrics and Financial 03 04
Modeling
8 BPSFNPFIIS204 Practical 4: Fixed Income Securities 03 04
9 Seminar Paper 3 03 04
10 Seminar Paper 4 03 04
Total Credits 40

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Corporate Governance & Regulatory Environment of Finance

Semester: II

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the importance of corporate governance and different models of

corporate governance to have better mechanisms of corporate governance
CO2 Understand the responsibilities of shareholders and help in the protection of
shareholders rights.
CO3 understand the importance of statutory body governing markets.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
1 BPSFNTCGRE205 Corporate Governance and Environment of Finance
Syllabus
01 Corporate Governance: Objectives; definitions and importance of corporate governance; reputation, competition and
corporate governance; corporate ethics; corporate governance and corporate responsibility; globalization and
corporate governance; Models of corporate governance; mechanisms of corporategovernance.

02 Shareholders and Stakeholders: Shareholder rights; equitable treatment; responsibilitiesof shareholders; minority
shareholders’ protection; stakeholder protection.

03 Board of Directors: Structure and independence of the board; responsibilities and duties of the board; selection,
remuneration and evaluation of the board; board committees; the board and the management.

04 Audit Committee: Organization of audit committee; responsibilities of the audit committee; working with auditors
andmanagement.

05 Code of Corporate Governance: SEBI Code of Corporate Governance (Narayanmurthy Committee Report);
Ministry of Finance (Nareshchandra Committee Report); US Sarbanes-Oxley Act of 2002; The UK Corporate
Responsibility Act2002.

06 Economic Rationale of Financial Regulation: Externalities; market imperfections and failures; economies of scale in
monitoring; moral hazard; mandatory versus voluntary disclosure; regulation and competition; alternative
approaches toregulation.

07 Legal Framework of Capital Markets: Securities Contracts (Regulation) Act, 1956, and Securities Contracts
(Regulation) Rules, 1957; Foreign Exchange Management Act (FEMA); Overview of relevant provisions of the
Companies Act, 1956, Indian Stamp Act, Registration Act, Competition Act; , Stock exchanges – trading rules,
listing agreement, enforcement of listing compliances; Banking Regulation Act; Reserve Bank (Board for Financial
Supervision (BFS))Regulations.

08 SEBI Regulations and Guidelines: SEBI Act, 1992; SEBI (ICDR) Regulations; SEBI (Insider Trading) Regulations;
SEBI (Substantial Acquisition of Shares and Take Over) Regulations; SEBI (Buyback of Securities) Regulations;
SEBI (Foreign Institutional Investors)Regulations.

09 Regulation of Mutual Funds: SEBI (Mutual Funds) Regulations; taxation of a mutual fund - resident unit holders,
non-resident individual unit holders, non-resident unit holders being a company; Regulation of Overseas Investment
in the Domestic Mutual Fund Sector - Setting up an AMC, Investing via a Domestic Mutual Fund, Investing as a FII
in an Indian mutual fund, role of self-regulatory organisations.

10 Overview of Regulatory Bodies: Reserve Bank of India, Securities Exchange Board of India, Forward Market
Commission, Insurance Regulatory Development Authority, Providend Fund Regulatory and Development
Authority, Ministry of Finance, Ministry of Corporate Affairs, Registrar ofCompanies.

11 International Financial Regulation: Challenges of international regulation of financial markets; overview of financial
regulation in USA, UK, EU.
Reference:
1. Corporate Governance by Robert A. G. Monks and Nell Minow (2011),Wiley.
2. Company Law: Theory, Structure, & Operation by Cheffins (1997), ClarendonPress.
3. Global financial regulation by Howard Davies, David Green (2008) PolityPress.
4. Fundamentals of Financial Management by James C. Van Horne, John M. Wachowicz (2008), Prentice
Hall.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Corporate Finance

Semester: II

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand Sources of finance in corporate

CO2 Manage businesses with different tools and techniques.

CO3 Analyse data and take a part in financial decision making

CO4 Know about corporate markets

CO5 Understand Valuation of assets

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
2 BPSFNTCOFN206 Corporate Finance
Syllabus
01 Framework for Financial Decisions: An overview of financial decisions; the financial

environment; bond and sharevaluation.

02 Investment Decisions and Strategies: Investment appraisal methods; project appraisal–

applications; investment strategy and process.

03 Value, Risk and the Required Return: Analysing investment risk; identifying and valuing

options; relationships between investments: portfolio theory; setting the risk premium: the

capital asset pricing model; the required rate of return on investment; enterprise value and

equityvalue.

04 Valuation: Conceptual framework of valuation; approaches and methods of valuation - asset-

based approach, earnings based approach, discounted cash flow approach, market value based

approach, relative valuation approach, real options approach, selection of approach;

applications of valuation methods to valuation of different types ofcompanies.

05 Short-Term Financing and Policies: Treasury management and working capital policy; short-

term asset management; short - and medium-termfinance;

06 Strategic financial decisions: Long-term finance; returning value to shareholders: the dividend

decision; capital structure and the required return; relevance of capital structure; acquisitions

and restructuring; Operating Leverage; Dividend Policy; Pricing Strategy; Asset-

LiabilityManagement.

07 Corporate Performance Management: Execution Problem; Balanced Scorecard; Real-time

Financial Systems: Corporate Performance Management (CPM); Integrated Financial

Management

08 International Financial Management: Overview of market for foreign currencies; foreign

exchange risks – transaction, translation, and economic risks; managing currency risk; foreign

investmentdecisions.
Reference:
1. Corporate Finance by Stephen A. Ross, Randolph Westerfield, Jeffrey Jaffe (2006), McGraw-
Hill/Irwin.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Econometrics & Financial Modelling

Semester: II

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand basic econometrics.

CO2 Understand the various fundamentals, emerging models in finance, marketing

operations supply chain management and Human Resource Management.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
3 BPSFNTEMFM207 Econometrics & Financial Modelling
Syllabus
A 1Introduction to econometrics.

2Univariate regression model.

3Multivariate regression model.

4Dummy variables, heteroskedasticity, endogeneity.

5Time series data analysis

6Times series regression model

7Panel data analysis: Simultaneous use of cross sectional and time series data

8 Endogeneity: Instrumental variables and simultaneous equations.

B 1. Preliminaries: Introduction financial modelling; objectives of financial modelling;

spreadsheet features, techniques; best practices in spreadsheetdesign.
2. Systematic Design Method: Model Design and structure; Building business case
models; spreadsheet techniques andmethods.
3. Auditing and Testing: Essential testing and auditing techniques; Testing financial
analysis model with cash flows and ratios; Debugging and checking a financial model.
4. Macros and Security: Writing and auditing and macros; Spreadsheetsecurity.
5. Forecasting Models: Review of forecasting methods; financial "drivers"; Adding
forecasts to the casemodels.
6. Risk Techniques: Risk and multiple answers; Scenario techniques; Advanced financial
functions; adding sensitivity to the case model; Advanced scenario methods;
Compositemethods.
7. Optimisation and Targeting: Overview of optimisation and targeting; Goal seek and
Solver methods; optimising the casemodel.
8. Management Reporting: Requirement to consolidate and summarise data; consolidating
data from different sources; spreadsheet report managers; pivot tables; Techniques for
summarising data; producing a managementanalysis.
9. Model Completion: Model review; Documentation; Finalaudit.
Reference:
1. Introductory Econometrics 4e by Wooldridge, J. South-Western Cengage Learning(2009).
2. Financial Modeling 3e by S Benninga, MIT Press(2008).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Financial Market & Institution

Semester: II

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the different Financial Institutions and their importance

CO2 Understand the working of Financial Markets and its impact on the growth of our
economy

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
4 BPSFNTFMIN208 Financial Markets and Institutions
Syllabus
01 Introduction: Determination of Interest Rates; Interest Rates and Security Valuation; Monetary

Policy, and InterestRates.

02 Securities Markets: Money Markets; Bond Markets; Mortgage Markets; Stock Markets;

Foreign Exchange Markets; Derivative SecuritiesMarkets.

03 Banks: Industry Overview; commercial banks, cooperative banks; microfinance institutions;

Banks' Financial Statements and Analysis; Regulation ofbanks.

04 Nonbank Financial Institutions: Lending Institutions; Finance Companies; NBFCs; Insurance

Companies; depositories and depository participants, clearing corporations, Brokerage Firms;

Merchant and Investment Banks; Mutual Funds and Hedge Funds; Pension Funds; registrars

and transfer agents, credit rating agencies, portfolio management services, asset reconstruction

companies; money market institutions – primary dealers, DFHI, CCIL, FIMMDA; insurance

institutions – life insurance companies, non-life insurance companies, actuaries.

05 Regulatory bodies – Self Regulatory Organisation (SROs), SEBI, RBI, IRDA. International

financial institutions – Federal Reserve Bank (US); Bank of England; European Central Bank;

Securities Exchange Commission(SEC).

06 Risk Management In Financial Institutions: Types of Risks Incurred by Financial Institutions;

Managing Credit Risk on the Balance Sheet; Managing Liquidity Risk on the Balance Sheet;

Managing Interest Rate Risk and Insolvency Risk on the Balance Sheet; Managing Risk off the

Balance Sheet with Derivative Securities; Managing Risk off the Balance Sheet with Loan Sales

andSecuritization.
Reference:
1. Financial Markets and Institutions by Bhole, Tata McGraw-Hill (2009).
2. Financial Markets and Institutions 4/e by Saunders and Cornett, McGraw-Hill (2009).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Fixed Income Securities Market

Semester: II

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand Forward Rate Analysis and yield curves.

CO2 Knowledge for analyzing Bonds.

CO3 Understanding Risk Analysis for Bonds

CO4 Gain Knowledge to manage fixed income fund & apply fixed income strategies.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
5 BPSFNTFIIS209 Fixed Income Securities Market
Syllabus
01 Understanding Forward Rate Analysis and Yieldcurves: Term structure of interest rates and

forward rate analysis; yield measures; analysing changes in the yield curve.

02 Framework for AnalysingBonds: Cash flows for typical bond structures; time value of

money; annuities; bond yields: coupon, current, yield to maturity (YTM), yield to call,

realised yield; yield conventions; yield decomposition: current yield, interest upon interest,

pull-to-maturity; duration; modified duration; convexity and relative convexity. yield curve

analysis - coupon yield curve and the spot curve, interpretations of the yield curve, pricing

bonds using the yield curve; implications of duration and convexity for bond analysis; using

horizon analysis to evaluate bond strategies; analysis of bonds with embedded options;

asset and mortgage backed security analysis.

03 Risk Analysis forBonds: Sources of risk - credit risk; interest rate risks; reinvestment risks;

liquidity; calls on bonds; analysis of corporate bond risk; analysing rating agencies criteria –

Moodys, Standard and Poors; risks involved in treasury securities; price volatility and

interest rate volatility; sources of interest rate volatility; key ratios for interest rate sensitivity.

04 Fixed IncomeStrategies: Passive fixed income strategies; active fixed income strategies;

common strategies - buy and hold, bullets and barbells, butterflies, ladders, immunization,

hedging.

05 Fixed Icome Fund ManagementPractice: Constructing a fixed income portfolio, importance of

asset allocation, funding liabilities, asset liability management (ALM), balanced

fundapproach.
Reference:
1. Fixed Income Securities: Tools for Today's Markets, 2nd ed. by Bruce Tuckman,Wiley.
2. Understanding and Managing Interest Rate Risks, by Ren-Raw Chen, WorldScientific.
3. Options, Futures, and Other Derivatives 6e by John C. Hull, Pearson/PrenticeHall.
4. Credit Derivatives, by M. Ansen, F. Fabozzi, M. Choudhry, and R.-R. Chen,Wiley.
5. Fixed Income Securities: Valuation, Risk, and Risk Management by Pietro Veronesi (2010), John Wiley
andSons.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Investment Banking & PEVC

Semester: II

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand Investment banking and process for investment

CO2 Gain knowledge about mergers & acquisitions.

CO3 Understand the role of private equity and venture capital in the financial system.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
6 Investment Banking and PEVC (Private Equity and Venture
Capital)
Syllabus
01 Investment Banking : Introduction
Corporate debt and underwriting procedures securitization and asset backed debt securities,
high yield debt investment bankers as traders and market-makers, private placements

Investment Process
Methods - Sources of funding/investor decision making – Credit borrowing Vs Issuing Equity

- Analysis of funding options: bank borrowing, cross currency, private placements, private

equity, public stock/bond market, high yield market, floating rate vs. fixed rate borrowing,

equity vs. convertible securities Disinvestments mechanism — Incentives — Future Prospects

02 Mergers and Accquisitions

Introduction to valuation of companies; the law of mergers & acquisitions, markets for
takeover stocks and risk arbitrageurs restructuring: theory of adding value, LBOS, practice of
adding value

How Investment Bankers Compete

Developing new business, international business, professional standards and management,
Structure of banking industry, major developments in India, and in international capital
markets 1975-1997: legal basis of corporate finance and investment banking.
03 Private equity and venture capital in the financial system:
The special role of private equity and venture capital industry: why are they necessary in a modern
economy?
Market trends in Europe and in US.
Competitive models of private equity and venture capital: angels and informal investors; incubators;
start-up financer; closed-end funds; merchant banks; vulture funds.
Regulatory and legal issues:
Regulations and supervision towards investing in non-financial firms.
The functioning of private equity fund: management fee and carried interest; managers and investors.
04 Legal and fiscal issues for venture capital investment schemes: European versus US and UK patterns
(closed-end fund, venture capital fund, Sbic, VCT, angel investing).
Management of a private equity and a venture capital fund:
Introduction to different categories of investment: new ventures, start up, young firms, high potential
firms, family owned firms and turnaround involved companies.
The value chain of investing in firms: a broad vision.
The valuation of the target company: how to evaluate and how to manage the deal?
Management issues: managing the single investment, funding process, managing the portfolio of
investments, exit way process

Reference:
Stowell, David P; Investment Banks, Hedge Funds and Private Equity , Academic Press 2013

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
7 BPSFNPEMFM203 Practical 3: Econometrics and Financial Modelling
The application of the following topics to real world issues in Finance:

•
Econometrics:

• Univariate regression model.

• Multivariate regression model.

• Dummy variables, heteroskedasticity, endogeneity.

• Time series data analysis

• Times series regression model

• Panel data analysis: Simultaneous use of cross sectional and time series data

• Endogeneity: Instrumental variables and simultaneous equations.

•
Financial Modelling:

• Forecasting Models: Review of forecasting methods; financial "drivers"; Adding forecasts to the

case models.

• Risk Techniques: Risk and multiple answers; Scenario techniques; Advanced financial functions;

adding sensitivity to the case model; Advanced scenario methods; Composite methods.

• Optimisation and Targeting: Overview of optimisation and targeting; Goal seek and Solver

methods; optimising the case model.

• Management Reporting: Requirement to consolidate and summarise data; consolidating data from

different sources; spreadsheet report managers; pivot tables; Techniques for summarising data;

producing a management analysis.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester II
Sr. No. Course Code Course Name
8 BPSFNPFIIS204 Practical 4: Fixed Income Securities Analysis
The application of the following topics to real world issues in Finance:

•
Analysing Bonds: Cash flows for typical bond structures; time value of money; annuities; bond yields:

coupon, current, yield to maturity (YTM), yield to call, realised yield; yield conventions; yield

decomposition: current yield, interest upon interest, pull-to-maturity; duration; modified duration;

convexity and relative convexity. yield curve analysis - coupon yield curve and the spot curve,

interpretations of the yield curve, pricing bonds using the yield curve; implications of duration and

convexity for bond analysis; using horizon analysis to evaluate bond strategies; analysis of bonds with

embedded options; asset and mortgage backed security analysis.

Risk Analysis for Bonds: Sources of risk - credit risk; interest rate risks; reinvestment risks; liquidity;

calls on bonds; analysis of corporate bond risk; analysing rating agencies criteria – Moodys, Standard

and Poors; risks involved in treasury securities; price volatility and interest rate volatility; sources of

interest rate volatility; key ratios for interest rate sensitivity.

Fixed Income Strategies: Passive fixed income strategies; active fixed income strategies; common

strategies - buy and hold, bullets and barbells, butterflies, ladders, immunization, hedging.

Fixed Income Fund Management Practice: Constructing a fixed income portfolio, importance of asset

allocation, funding liabilities, asset liability management (ALM), balanced fund approach.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Semester III
Course College Code Title of the Course Contact Credit
Hours
1 BPSFNTTLA310 Technical Analysis 03 04
2 BPSFNTPAM311 Portfolio Analysis and Management 03 04
3 BPSFNTDER312 Derivatives 03 04
4 BPSFNTMAR313 Mergers, Acquisitions and Corporate 03 04
Restructuring
5 Risk in Financial Services 03 04
6 BPSFNPTLA305 Practical 5: Technical Analysis 03 04
7 BPSFNPPAM306 Practical 6: Portfolio Analysis and Management 03 04
8 BPSFNPSRP307 Summer Project … 04
9 Seminar Based Paper 03 04

10 Seminar Based Paper 03 04

Total Credits 24

Semester IV

Course College Code Title of the Course Contact Credit

Hours

1 BPSFNTSDF414 Structured Finance 03 04

2 BPSFNTINF416 International Finance 03 04

3 Infrastructure and Project Financing 03 04

4 Behavioural Finance 03 04

5 Alternative Investments 03 04

6 Seminar Based Paper 03 04

7 Seminar Based Paper 03 04

8 BPSFNPDSN408 Dissertation - 08

Total Credits 40

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Semester III

Course College Code Title of the Course Contact Credit

Hours
1 BPSFNTTLA310 Technical Analysis 03 04
2 BPSFNTPAM311 Portfolio Analysis and Management 03 04
3 BPSFNTDER312 Derivatives 03 04
4 BPSFNTMAR313 Mergers, Acquisitions and Corporate 03 04
Restructuring
5 Risk in Financial Services 03 04
6 BPSFNPTLA305 Practical 5: Technical Analysis 03 04
7 BPSFNPPAM306 Practical 6: Portfolio Analysis and Management 03 04
8 BPSFNPSRP307 Summer Project … 04
9 Seminar Based Paper 03 04

10 Seminar Based Paper 03 04

Total Credits 24

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Technical Analysis

Semester: III

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the history & importance of Technical Analysis

CO2 Knowledge about various technical & Sentimental indicators

CO3 Understanding about long & short trading strategies& risk tools

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
1 BPSFNTTLA310 Technical Analysis
Syllabus
01 Background andBasics: Technical analysis as an integral part of market analysis; History of

technical analysis.

02 Constructing and InterpretingCharts: Tools - the construction of different types of charts -

line chart, bar chart, point and figure chart, candlestick charts etc.; What to Look for on the

Charts.

03 Trends: Basics of pattern recognition; determination of price trends; support and resistance

levels; real time presentations at end of session; moving averages; gaps; volume; comparative

relative strength.

04 Phases of Price Activity and PatternRecognition: Phases of price activity - pattern recognition

on bar charts, pattern recognition on point and figure charts, pattern recognition on

candlestick charting; turning points; continuation patterns; climax; candlesticks; volume;

point and figure; behavioral; pairs trading / derivatives.

05 Technical AnalysisTheories: Dow theory, Elliott wave theory, Fibonacci sequence, Gann

analysis, Cycle analysis.

06 TechnicalIndicators: RSI indicator; Stochastics; Rate of change (RoC) indicator; MACD;

Bollinger bands; Moving averages.

07 Sentimental Indicators: Volatility index (VIX), Put/call ratio, Bull/bear indicators, Dow's

psychology of bull and bear markets, Insider activity

08 Applying technical analysis to bonds, currencies, futures andoptions.

09 Technical Analysis and PortfolioManagement: Technical analysis tools for sentiment;

Efficient market considerations; Short versus long trading strategies; Risk tools; Advanced

derivative use and technical analysis; Quant tools.

Reference:
1. Technical Analysis: An Introduction to the Core Concepts by Mark Mobius(2011), John Wiley & Sons.
2. Technical Analysis of Stock Trends by Edwards and Magee, CRC Press,2007.
3. Technical Analysis: The Complete Resource for Financial Market Technicians by By Charles D.
Kirkpatrick, Julie R. Dahlquist (2011), Pearson Education.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Portfolio Analysis & Management

Semester: III

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understanding about forecasting & forming markets actively

CO2 Knowledge about investment policies, modern portfolio theory & anomalies.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
2 BPSFNTPAM311 Portfolio Analysis and Management
Syllabus
01 Efficient Market Hypothesis(EMH): Efficient market hypothesis conceptual underpinnings;

empirical studies and anomalies of efficiency; implications of the EMH for investment

analysis.

02 Modern PortfolioTheory: Measures of uncertainty and risk; Markowitz (Mean Variance)

Efficient Frontier; introduction of a risk free asset; Capital Asset Pricing Model – CAPM;

Critique of CAPM; arbitrage pricing theory – APT; single index models for portfolio

construction.

03 Investment policy and portfoliocreation: A framework for investment policy; investment

policies and practices for institutions and individuals; monitoring and re-balancing asset

allocation with respect to risk, return and investment policy; case studies in investment

management; investment strategies - passive to active; structuring an international investment

strategy.

04 Performance AttributionAnalysis: Evaluation of portfolio performance; traditional measures –

Sharpe, Treynor, Jensen; decomposition of portfolio performance; cases in portfolio

decomposition; performance attribution support systems; value at risk (VaR) measurement.

05 Measurement and Presentation of Portfolio Returns : Global investment

performancestandards.

06 Stock MarketIndices: Types of indices; Index versions; free-float indices;Weighting,

capitalisation-weighted index; Criticism of capitalization-weighting; Indices and passive

investment management. Applications - overview of NSE and BSE indices.

Reference:
1. Modern Portfolio Theory and Investment Analysis by Edwin J. Elton, Martin J. Gruber, Stephen J.
Brown, William N. Goetzmann (2010), John Wiley and Sons.
2. Quantitative Methods for Portfolio Analysis by Takeaki Kariya (1993), Kluwer Academic
Publishers.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Derivatives

Semester: III

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the concepts related to Commodities and Derivatives market

CO2 Ability to understand the concepts of Options, Forwards and Futures

CO3 Difference between Currency Market, Commodity Market and Derivative Market

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
3 BPSFNTDER312 Derivatives
Syllabus
01 Evolution of Derivatives: Concept of derivatives, definitions, purposes and criticisms; derivative

markets; past and present; difference between exchange traded and OTC derivatives; derivative market

participants - hedgers, arbitrageurs andspeculators.

02 Forward Market and Products: Structure and role of global forward market; concept, characteristics

and definition; types of forward contracts - equity forward, currency forward, interest rate forward,

forward rate agreement; valuation of forward; generic valuation principles; valuation of individual

product; hedging using forwards; credit risk and forward contracts.

03 Futures Market and Products: Structure and role of global future market including leading futures

exchanges; concept, characteristics and definition; trading mechanism and concept of margins; futures

vs. forward; types of futures contracts - stock futures, index futures, currency futures, interest rate

futures, commodity futures; generic valuation principles; valuation of individual futures product; basis

risk; daily and final settlement price; hedging using futures; speculation usingfutures.

04 Option Market and Products: Structure and role of global option market including OTC and leading;

options exchanges; concept, characteristics and definition; option terminology; American style and

European style option; option payoffs; trading mechanism and concept of margins; futures vs options;

types of options - stock options, index options, currency options, commodity options, options on

futures, interest rateoptions;

05 Option Pricing: Factors affecting option pricing, upper and lower bounds of option prices, binomial

model, Black and Scholes option pricing model, option Greeks (delta, gamma, theta, vega, rho), delta

hedging; option strategies (spreads, straddles and strangles); exotic options - hedging with exotic

options, pricing of exoticoptions.

06 Swaps: Concept, characteristics and definition, Types of swaps, Interest rate swap (IRS), Currency

swap, Equity swap, Other types of swaps, valuation of swaps, Swaption, credit risk and swaps,

strategies and applications ofswaps.

07 Credit Derivatives: Concept role and structure of credit derivatives, Types of credit derivative, credit

default swap, total return swap, credit spread option, Credit link notes, collateralized debtobligations.

08 Accounting and taxation of derivativeinstruments.

Reference:
1. Options, Futures and Other Derivatives by John C. Hull (2010), Prentice Hall India

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Mergers, Acquisition & Corporate restructuring

Semester: III

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand core valuation concepts, tools & skills required for valuation of
business enterprise.
CO2 Understand different concepts of mergers & acquisition

CO3 Understand the legal aspects & mechanics of M&A

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
4 BPSFNTMAR313 Mergers, Acquisitions and Corporate Restructuring
Syllabus
01 Strategies for ValueCreation: M&A as a tool of competitive advantage. Performance of M&A:

why do acquisitions fail? Strategic, financial and managerial drivers of M&A activity.

Reasons for M&A and its influence on shareholder value. Types of corporate control

strategies. Major forces driving domestic and international M&A activity. Major players on

the M&A landscape and their incentives. Analysis of successful and failed M&As. Likely

future of M&A activity.

02 Stages of an M&ATransaction: Overview of the stages of an M&A transaction, from

origination to closing. Origination of M&A ideas, clarifying strategy, valuing the target,

carrying out due diligence assessment and developing an implementation plan. Process

timeline for an M&A transaction. Role of synergies in M&A analysis. Performance of pro

forma “merger consequences” analysis. Tactical considerations before approaching a

potential target.

03 Mechanics ofM&A: Setting up an M&A function; Aligning M&A with business strategy;

Active deal generation; Other sources of deals; Typical deal stages; Deal documentation;

Valuations and deal returns; Due Diligence; Post acquisitionintegration.

04 Valuation for Mergers andAcquisition: Valuation techniques appropriate to M&A analysis.

Valuing synergies. Control and liquidity discount/premium. Pricing acquisitions. Meeting the

challenges of sum of the parts valuation. Estimating the cost of capital for business units.

Estimating the business unit cost of capital. Peer group analysis and benchmarking. Applying

peer group analysis. Valuing the business units. Estimating a target capital structure2

Valuation for mergers and acquisitions.

05 FinancialStrategy: The M&A as an effective corporate finance strategy. Build or buy

decisions: striking the right balance. Leveraging financial assets through an M&A. Preparing

the stage for a successful acquisition. Financial and non-financial criteria for acquisitions.

Pitfalls and rebalancing the risk reward ratio. Cost reducing and revenue enhancing

synergies. Purchasers motivated by diversification. The approach and requirements of

financial purchasers. Valuing a consideration other than cash

06 Legal aspects ofM&A:

1. Company Law Provisions: Statutory framework for compromises, arrangements and
amalgamations. Drafting of the scheme. Approval of the scheme by members and

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 creditors. Court’s sanction of the scheme. Legal aspects of valuation of shares and
share- exchange ratios. Issue and allotment of shares. Standard time-schedule for
procedural formalities of completing an M&A transaction. Takeover by acquisition
ofshares.
2. SEBI (Substantial Acquisition of Shares & Takeover Code) Provisions: Overview of the
SEBI (Substantial Acquisition of Shares & Takeover Code). Takeover of an unlisted
company by acquiring controlling interest. Takeover of a listed company.
Proceduralformalities.
3. Competition Law Provisions. Overview of the Competition Act, 2002. Anticompetitive
agreements. Abuse of dominance. Meaning and definition of combinations. Concept
of void combinations and exceptions. Market dominance of a group in and outside
India. Concept of control of affairs or management. Overview of the role, powers
and functions of the Competition Commission ofIndia.
4. FEMA Provisions Relating To Cross-Border M&A: Overview of provisions of the
Foreign Exchange Management Act, 1999 relating to issue and transfer of securities
between residents and non-residents, external commercial borrowings, American
depository receipts, overseas investment by Indian companies, foreign direct
investments, and wholly-owned subsidiaries of Indian companiesabroad.
07 Accounting forM&A: Overview of Accounting Standard 14 and international accounting

standards relating to M&A. Equity method of accounting for investments. Accounting for

minority interest. Treatment of minority interest for enterprise valuation. Accounting for

ESOPs, restructuring charges, discontinuance of operations. Recognizing assetimpairments.

08 Tax Aspects OFM&A: Tax aspects of choice of entity. Definition of amalgamation under

Income Tax Act, 1962. Amortization of certain preliminary expenses. Tax treatment of

expenditure of amalgamation, purchase of patents, copyrights, scientific research. Cost of

assets acquired through M&A. Capital gains on assets transferred in M&A. Carry forward

and set off of accumulated losses and unabsorbed depreciation. Deferred income taxes and

reporting of income tax. Tax issue in structuring debt financing. Estimating the tax bases of

target company’s assets. Tax effects of E“OPs.

09 Developing the Acquisition IntegrationFramework: Prioritizing integration issues and

ensuring buy-in by both organizations. Integrating organizations and major projects. The

integration framework and its elements, and how its use will benefit you. Facilitating

individual and small task group working relationships. Identifying the connections between

each element and acquisition strategic intent. Achieving common focus by reaching

agreement on the details of eachelement.

Reference:
▪ Mergers & Acquisitions by J. Fred Weston, Samuel C. Weaver (2010), McGraw-HillPublications
Mergers and Acquisitions: A Step-by-Step Legal and Practical Guide by Edwin L. Miller, Jr. (2008), John
Wiley andSons.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Risk in Financial Services

Semester: III

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the principle of risk management

CO2 Various concepts of risk& ways to manage them

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
5 Risk in Financial Services
Syllabus
01 Principles of Risk Management, International Risk Regulation

02 Operational Risk, Credit Risk, Market Risk

03 Investment Risk, Liquidity Risk, Model Risk

04 Risk Oversight andCorporate Governance, Enterprise Risk Management (ERM)

Reference:
1. Certificate in Risk in Financial Services, learning manual Edition 7, May 2018.
2. The course content is based on Chartered Institute for Securities & Investment’s Risk in Financial
Services certificate program. The detailed syllabus can also be viewed on www. cisi.org.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
6 BPSFNPTLA305 Practical 5: Technical Analysis
The application of the following topics to real world issues in Finance:

•
Constructing and Interpreting Charts: Tools - the construction of different

types of charts - line chart, bar chart, point and figure chart, candlestick charts

etc.; What to Look for on the Charts.

Trends: Basics of pattern recognition; determination of price trends; support and

resistance levels; real time presentations at end of session; moving averages;

gaps; volume; comparative relative strength.

Phases of Price Activity and Pattern Recognition: Phases of price activity -

pattern recognition on bar charts, pattern recognition on point and figure charts,

pattern recognition on candlestick charting; turning points; continuation

patterns; climax; candlesticks; volume; point and figure; behavioral; pairs

trading / derivatives.

Technical Analysis Theories: Dow theory, Elliott wave theory, Fibonacci

sequence, Gann analysis, Cycle analysis.

Technical Indicators: RSI indicator; Stochastics; Rate of change (RoC) indicator;

MACD; Bollinger bands; Moving averages.

Sentimental Indicators: Volatility index (VIX), Put/call ratio, Bull/bear

indicators, Dow's psychology of bull and bear markets, Insider activity

Applying technical analysis to bonds, currencies, futures and options.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester III
Sr. No. Course Code Course Name
7 BPSFNPPAM306 Practical 6: Portfolio Analysis
The application of the following topics to real world issues in Finance:

•
Efficient Market Hypothesis (EMH)

Modern Portfolio Theory

Investment policy and portfolio creation

Performance Attribution Analysis

Measurement and Presentation of Portfolio Returns

Stock Market Indices

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Semester IV
Course College Code Title of the Course Contact Credit

Hours

1 BPSFNTSDF414 Structured Finance

2 BPSFNTINF416 International Finance 03 04

3 Infrastructure and Project Financing 03 04

4 Behavioural Finance 03 04

5 Alternative Investments 03 04

6 Seminar Based Paper 03 04

7 Seminar Based Paper 03 04

8 BPSFNPDSN408 Dissertation - 08

Total Credits 40

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name: Structured Finance

Semester: IV

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Develop a good Understanding of securitization structure

CO2 Importance of Economics of Structured finance

CO3 Knowledge about various structured instruments & valuation techniques

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester IV
Sr. No. Course Code Course Name
1 BPSFNTSDF414 Structured Finance
Syllabus
01 Introduction to structured finance.: Financing with Asset-Backed Securities

02 ABS: Ratings and Cost-Benefit Analysis: Collateralized Debt Obligations: Structure and

Pricing; Collateralized Loan Obligations

03 Credit swaps: Credit Derivatives; Synthetic ABS and related instruments.

04 MTNs and equity-linked structurednotes: Design and pricing of convertible, hybrids and
mezzaninedebt
05 Structuring leveragedfinance

06 Economics of FinancialInnovation: Competition and the Product Cycle in Financial

Innovations; Sources of Innovations; Transactions and Monitoring Costs; Regulation, Taxes,

Constraints; Market Segmentation;

07 Understanding NewInstruments: The Building Block Approach; Hedging and Managing

New Instruments.

Reference:
1. Elements of Structured Finance by Ann Rutledge, Sylvain Raines (2009), Oxford University Press.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : International Finance

Semester: IV

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Demonstrate mathematical concepts and models for the required industry.

CO2 Interpret and apply the results of an operations research model to an organisation.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester IV
Sr. No. Course Code Course Name
2 BPSFNTINF416 International Finance
Syllabus
01 Introduction and Motivation for InternationalFinance: Key Issues in International Business

Finance; Role of an International CFO.

02 Institutional Background of InternationalFinance: International Payment Mechanism;

International ("Euro") Money and Bond Markets; Balance of Payments; Exchange-

RateRegimes.

03 CurrencyMarkets: Spot Markets for Foreign Currency; Exchange Rates; Major Markets for

Foreign Exchange; Law of One Price for Spot Exchange Quotes; Translating FC Figures:

Nominal Rates, PPP Rates, and Deviations from PPP;

04 Forward Exchange Rates forCurrency: Introduction to Forward Contracts; Relation between

Exchange and Money Markets; Law of One Price and Covered Interest Parity; Market Value

of an Outstanding Forward Contract; Forward Forward and the Forward Rate Agreement;

Using Forwards for International Financial Management.

05 The Market for CurrencyFutures: Handling Default Risk in Forward Markets; How Futures

Contracts Differ from Forward Markets; Effect of Marking to Market on Futures Prices;

Hedging with Futures Contracts; Pros and Cons of Futures Contracts Relative to

ForwardContracts.

06 Markets for CurrencySwaps: Fixed-for-Fixed Currency Swaps; Interest-Rate Swaps; Cross-

Currency Swaps.
07 CurrencyOptions: Concepts and Uses of Currency Options; Institutional Aspects of Options

Markets; Options on Futures; Using Options for Arbitrage, Hedging; Speculation; Hedging

and Valuation.

08 Exchange Risk, Exposure, and RiskManagement: What Makes Forex Markets Tick? Behavior

of Spot Exchange Rates; PPP Theory and the Behavior of the Real Exchange Rate; Exchange

Rates and Economic Policy Fundamentals; Measuring Exposure to Exchange Rates; Concepts

of Risk and Exposure: Measuring and Hedging of Operating Exposure; Accounting

Exposure;

09 Managing Credit Risk in InternationalTrade: Payment Modes without Bank Participation;

Documentary Payment Modes with Bank Participation; Standard Ways of Coping with

Default Risk;

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 10 Managing Credit Risk in InternationalTrade: Payment Modes without Bank Participation;

Documentary Payment Modes with Bank Participation; Standard Ways of Coping with

Default Risk;

11 Long-Term International Funding and DirectInvestment: International Fixed-Income

Markets; "Euro" Deposits and Loans; International Bond and Commercial-Paper Markets;

Borrowing Alternatives.

12 Cost of International Capital and International Taxation of ForeignInvestments

Reference:
▪ Mergers & Acquisitions by J. Fred Weston, Samuel C. Weaver (2010), McGraw-HillPublications
▪ Mergers and Acquisitions: A Step-by-Step Legal and Practical Guide by Edwin L. Miller, Jr. (2008),
John Wiley andSons.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Infrastructure & Project Finance

Semester: IV

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the financing techniques used to finance the infrastructure projects.

CO2 Gain Knowledge about the different organizational models & its applications.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester IV
Sr. No. Course Code Course Name
3 Infrastructure and Project Financing
Syllabus
01 An Overview of Infrastructure: Demand for Infrastructure; Sustainability and Infrastructure; Definition
and Characteristics of Infrastructure; Types of infrastructure companies; Value chain elements;
Sources of revenue and financing; Competition and regulation.

02 Infrastructure Investments: Infrastructure as an Asset Class; Investors in infrastructure; Risk-return

profiles of unlisted infrastructure; Benchmarking infrastructure investments; Portfolio diversification
through infrastructure.

03 Organisational Model: Privatisation Models; Partnership Models; Business Models; Contractual

Models; Financing Models.
Risk Management: General Risks; Project/Asset-specific Risks; Sector-specific Risks

04 Project Finance: Project Finance Basics; Project Finance and PPP; Basic Structure of Project Finance;
Structuring Project Financings - Advisory, Project assessment, Risk analysis and allocation, Financing,
Implementation and monitoring.

Reference:
1. Infrastructure as an Asset Class: Investment Strategy, Sustainability, Project Finance and PPP (2e) by Barbara
Weber, MirjamStaub-Bisang, Hans Wilhelm Alfen. John Wiley & Sons (2016).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Behavioural Finance

Semester: IV

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand how human psychology affects in the pricing of assets.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester IV
Sr. No. Course Code Course Name
4 Behavioural Finance
Syllabus
01 1. Investment Decision Cycle: Judgment under Uncertainty
2. Utility/ Preference Functions: Expected Utility Theory [EUT]
3. Brief History of Rational Thought: Pascal-Fermat to Friedman-Savage

02 4. Paradoxes (Allais and Others)

5. Prospect Theory
6. Information Screening Biases

03 7. Information Processing: Bayesian Decision Making, Heuristics and cognitive biases

8. Forecasting Biases
9. Emotion and Neuroscience
04 10. Group Behavior: Conformism, herding, fatal attractions
11. Investing Styles and Behavioral Finance
Reference:
• Handbook of Behavioral Finance – Brian R. Bruce
• Behavioral finance - Wiley Finance - Joachim Goldberg, Rüdiger von Nitzsch

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Business Analytics

Semester: IV

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Understand the foundation of business analytics

CO2 Gain knowledge to different analytic tools

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester IV
Sr. No. Course Code Course Name
6 Business Analytics
Syllabus
01 Foundations of Business Analytics

02 Descriptive Analytics
Visualizing and Exploring Data

03 Predictive Analytics
a. Predictive Modeling and Analysis;
b. Forecasting Techniques;
c. Simulation and Risk Analysis;
d. Introduction to Data Mining
04 Prescriptive Analytics
a. Linear Optimization;
b. Applications of Linear Optimization;
c. Integer Optimization;
d. Nonlinear and Non-Smooth Optimization;
e. Optimization Models with Uncertainty
f. Making Decisions: Decision Analysis
Reference:
1. Business Analytics (2e) by R. Evans James. Pearson Education (2017).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Subject Name : Alternative Investments

Semester: IV

Course Outcome

After Completion of the course, the student will be able to

Course Description
Outcome

CO1 Explore the world of alternative investments

CO2 Learn the investing patterns with respect to private equity, venture capital funds,
real estate & commodities.

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Syllabus for Programme of M.Sc. (Finance) at Semester IV
Sr. No. Course Code Course Name
7 Alternative Investments
Syllabus
01 Introduction to alternative investments: History, evolution, types, regulations, comparison of
alternative investments with traditional investments; Categories of alternative investments; Aspects
of risk and return
02 Investing in Commodities: Gaining Exposure to Commodities; Commodity Prices Compared to
Financial Asset Prices; Economic Rationale; Commodity Futures Indexes.
Investing in Real Estate: The Benefits of Real Estate Investing; Real Estate Performance; Real Estate
Risk Profile; Real Estate as Part of a Diversified Portfolio; Core, Value-Added, and Opportunistic Real
Estate.
03 Investing in Real Estate Investment Trusts; Advantages and Disadvantages of REITs; Different Types of
REITs; Economics of REITs.
Introduction to Hedge Funds: Hedge Funds vs. Mutual Funds; Growth of the Hedge Fund Industry;
Categories of Hedge Funds; Hedge Fund Strategies; Considerations in Investing in Hedge Funds;
Hedge Fund Performance; Hedge Fund Investment Strategy.
04 Investing in Mezzanine Debt: Overview of Mezzanine Debt; Examples of Mezzanine Financing;
Mezzanine Funds; Venture Capital and the Distinction Between Mezzanine; Financing and Different
Forms of Private Equity; Advantages of Mezzanine Debt to the Investor.
Investing in Distressed Debt: Vulture Investors and Hedge Fund Managers; Distressed Debt and
Bankruptcy; Distressed Debt Investment Strategies; Risks of Distressed Debt Investing.

Reference:
1. Alternative Investments: A Primer for Investment Professionals by Donald R. Chambers, Keith H.
Black, Nelson J. Lacey. CFA Institute Research Foundation (2018).

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
List of Journals:

• Journal of Finance (American Finance Association (AFA))

http://www.afajof.org/

• Journal of Financial Management (Wiley)

http://www.wiley.com/bw/journal.asp?ref=0046-3892&site=1

• Journal of International Financial Management & Accounting

http://www.wiley.com/bw/journal.asp?ref=0954-1314

• Journal of Multinational Financial Management(Elsevier)

http://www.elsevier.com/wps/find/journaldescription.cws_home/600112/descr
iption#description

• Journal of Risk and Financial Management

http://www.jrfm.us/

• Asia Pacific Journal of Finance and Banking Research

http://www.globip.com/asiapacificjournal.htm

• Asian Academy of Management Journal of Accounting and Finance

http://web.usm.my/journal/aamjaf/main.htm

• Finance India (Indian Institute ofFinance)

http://www.financeindia.org/fi.htm

• Journal of Emerging Market Finance

http://www.sagepub.com/journals/Journal201651

• Indian Journal of Financewww.indianjournaloffinance.co.in

Board of Studies in M.Sc. (Finance)

B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan
 Board of Studies in M.Sc. (Finance)
B.K. Birla College of Arts, Science and Commerce (Autonomous), Kalyan