MIRM Revised Syllabus (27.09.2022)

DEPARTMENT OF COMMERCE
Aligarh Muslim University

CURRICULUM DESIGN
MASTERS IN INSURANCE & RISK MANAGEMENT [MIRM]
Session-2022-23
MIRM First Semester

Course Course Title (Core) Credits Max.
Code Marks
MIR1001 Management Concept 04 30 70 100
MIR1005 ICT in Business 04 30 70 100

MIR1007 Accounting for Managers 04 30 70 100
MIR1008 Fundamentals of Insurance 04 30 70 100
MIR1009 Introduction to Risk Management 04 30 70 100
MIR1010 Managerial Economics 04 30 70 100
Total 24 600
MIRM Second Semester

Code Marks
MIR2002 Investment Planning and Management 04 30 70 100
MIR2003 Marketing of Services 04 30 70 100
MIR2007 Insurance Regulatory Framework 04 30 70 100
MIR2008 Sales Management 04 30 70 100

MIR2009 Corporate Finance 04 30 70 100
MIR2010 Marketing Research 04 30 70 100
MIR2011 Professional Development 02 40 60 100
Total 26 700
MIRM Third Semester

Code Marks
MIR3002 Principles & Practices of Life Insurance 04 30 70 100
MIR3003 Principles & Practices of General 04 30 70 100

Insurance
MIR305 Management of Financial Institutions 04 30 70 100
MIR3006 Principles of Pension Planning 04 30 70 100

MIR3071 Summer Training Report 04 40 60 100
Elective (Choose any one)
MIR3091 Consumer Behaviour (Elective) 04 30 70 100
MIR3092 Human Resource & Organizational 04 30 70 100
Development (Elective)
Total 24 600
MIRM Fourth Semester

Code Marks
MIR4002 Underwriting and Claim Management 04 30 70 100
MIR4003 Basics of Actuarial Sciences 04 30 70 100
MIR4006 Risk Analysis and Modelling 04 30 70 100
MIR4007 Corporate Tax Planning & Management 04 30 70 100

MIR4071 Dissertation 04 40 60 100
Professional Development 02 40 60 100
Elective (Choose any one)
MIR4091 Security Analysis and Portfolio 04 30 70 100
Management (Elective)
MIR4092 Re-Insurance & Global Insurance 04 30 70 100
(Elective)
Total 26 700
Department of Commerce
Aligarh Muslim University, Aligarh
MANAGEMENT CONCEPT (MIR1001)
MIRM-I Semester (CBCS)
Credits: 04
Max. Marks: 100
Sessional: 30 Marks
Examination: 70 Marks
Objective: This subject aims to delve into the historical aspects of management and
trace the development.
Course Outcomes: At the end of the course students are able to:
1. Know about the evolution of management thoughts and schools of management.
2. Explain the various functions of management and key managerial roles.
3. Learn about the decision-making process and its application in managing
business.
Unit 1: Evolution of management discipline: Schools of Thought- Taylor’s

techniques (Scientific management); Administrative theory and
principles of management, Weber’s Bureaucratic Organization, Social
person era. New age organizations: characteristics, environment and
managerial challenges
Unit 2: Management Functions and Roles: Meaning & Definitions of
Management, Classification of functions, Planning; Types of plans and
planning premises; Organizing-Concept & process. Directing-
meaning, approaches. Controlling: Meaning, process, techniques. Aims
of HRM, policy goals of HRM, managerial roles, Levels of management,
types of managers.
Unit-3: Decision Making& Leadership: Concept and Significance, types of
Decisions, Processes of Decision Making; Techniques of decision-
making and Forecasting. Concept and basic premise of MBO, MBT,
MBE. Leadership concept, role and need of leaders. Traditional
Theories of Leadership.
Unit 4: Motivation, Power and Conflict: Meaning, Factors, Motivation
Theories: Maslow’s theory, Herzberg’s model, Theory X and Y,
McClelland’s achievement theory, Victor-vroom expectancy model,
Adam’s equity theory, Goal setting theory. Definition and bases of
power, power tactics. Factors Contributing to Political Behavior.
Conflict-concept, types Functional & Dysfunctional conflicts and
resolving conflicts.
Suggestive Readings:
 Robbins, Judge, Vohra (2013) Organizational Behaviour (15TH Eds) Pearson India
 Pande, S. and Basak, S. (2nd Ed.) HRM-text and Cases, Vikas Publishing
 Koontz & O’Donnell (1955). Principles of Management
 Understanding Organisations: Organisational Theory and Practice in India Paper
back by Shukla, 1996
ALIGARH MUSLIM UNIVERSITY, ALIGARH
ICT IN BUSINESS (MIR1005 )
MIRM I Semester (CBCS)
Credit – 04
Max. Marks -100
Sessional - 30 Marks
Examination - 70 Marks
Objective: To offers coverage of concepts and trends underlying current and future
developments in information technology, and fundamental principles for the effective use of
computer-based information systems.
Course Outcomes
At the end of the course students are able to:
1. Understand the fundamentals of Information Technology in business management.
2. Learn core concepts of computing and modern systems in business management.
3. Understand modern software programs and packages used in risk management.
Unit I: Introduction to Information Technology (IT): IT and Enabling
Technologies, Scope and Applications of IT in Finance and Banking.
Concepts of Hardware and Software, Types of Computers, Types of
Software. Data Communication, Networking, Network Types, Network
Topologies, Network Devices, Wired and Wireless Media, Wireless
Technologies, Network Uses, Overview of Internet, Intra-and Inter-
Organizational Communication.
Unit II: Information System and Data Base Management: Concept,
Characteristics and Types, Information System, Management Level and
Information Systems-Transaction Processing System, Decision Support
System, Executive Support System, Enterprise Systems, Knowledge
Management System. Digital Currency, Digital Payment Methods. Data
Base Concepts, Database Management System (DBMS) it Features and
Applications Relational Database, Database language-Structured Query
Language (SQL), SQL Commands, Hands on SQL Queries.
Unit III: Information Technology & Risk Management: IT and Risk
Management, Cyber Security, Security Dimensions, Security Threats &
Attacks, Security Measures (Cryptography, Digital Signature,
Authentication). Data Warehouse, Data Marts, Big data, Cloud, and Data
Mining and Their Applications in Business Functional Areas.
Unit IV: Financial Analysis Using Spread Sheet: Formatting, Formula &
Functions, Statistical Functions, Sorting/Filtering, What if Analysis,
Charts/Graphs. Financial Functions, Application of Excel in Financial
Analysis, Cash Flow, Estimation of Future Value (FV), Present Value
(PV), NPV, Depreciation (DB). Introduction to IBM SPSS Statistics 20,
Data Analysis Using SPSS Statistics 20.
Suggestive readings:
1. Awad, E.M., Electronic Commerce: From Vision to Fulfilment, ed. iii, 2007, Pearson Education.
2. Curtin, D.P.; Foley, K.; Sen, K., and Morin, C., Information Technology- The Breaking Wave, ed. i, 1999,
Tata McGraw-Hill.
3. ITL Education Solutions Ltd., Introduction to Information Technology,ed., 2008, Pearson Education.
4. Morley, D. and Parker, C. S., Understanding Computers: Today and Tomorrow, edxi, 2007, Thomson
Learning.
5. Ruzbeh J. Bodhanwala, Financial management Using Excel Spread Sheet, 2 nd Edition, Taxman, 2006.
ACCOUNTING FOR MANAGERS (MIRM1007)
Credit – 04
Max. Marks -100
Objective: To equip the students with the techniques of business decisions based on
accounting information.
Course Outcomes
At the end of the course students are able to
1. Learn about the accounting concepts and conventions and rules of preparing
accounting statements.
2. Understand the purpose of accounting and comprehend the qualitative
characteristics of financial statements.
3. Prepare the financial statements and the interpretation thereof related to business
management.
Unit I: Meaning, Definition and Need of Accounting; Meaning, Functions
of Financial Accounting, Types of Accounting and Users of Accounting
Information; Accounting Concepts and Conventions; Accounting
Equations; Types of Accounts, Rules for recording business
transactions.
Unit II: Preparation of Basic Accounts –Journal entries to Trial Balance,
Cash Book; Trading, P&L A/C and Balance Sheet and Adjustment
Entries; Bank Reconciliation Statement; Final Accounts of Companies
as per Companies Act, 2013.
Unit III: Analysis & Interpretation: Meaning, Objectives, Significance and
Limitations of Financial Statement Analysis. Techniques of Analysis of
Financial Statements: Comparative Statement Analysis, Trend
Analysis, Common Size Statement Analysis and Ratio Analysis. Cash
Flow and Funds Flow Analysis.
Unit IV: CVP Analysis and Variance Analysis:Break Even Analysis
Introduction, Methods, Importance, Profit Volume Ratio, Margin of
Safety, Impact selling price, Fixed Cost and Variable Cost on PV Ratio,
Break Even Point and Margin of Safety. CVP Analysis: Procedure,
Practical application, limitation.
Standard Costing Concept, types, objectives, Significance. Variance
Analysis: concept, significance. Types of variance analysis: Material,
Labour, sales, profit etc.
1. Dearden J and Bhattacharya SK, Accounting for Management– Text and Cases, 2005,
Vikas Publishing House Private Ltd, New Delhi.
2. I.M. Pandey, Management Accounting, 2007, Vikas Publishing House Private Limited,
New Delhi.
3. Hingorani, Ramnathan and Grewal, Management Accounting, 2005, S. Chand & Sons,
New Delhi.
4. Pillai, R.S.N. &Bhagavathi, Management Accounting, 2002, S. Chand & Company Ltd.,
New Delhi.
5. A Aziz Andari& J.C. Varshney, Financial and Cost Accounting, 2008, Wisdom
Publications, Delhi.
FUNDAMENTALS OF INSURANCE (MIR1008)
Credit – 04
Max. Marks -100
Objective: To make familiar with the basics of Insurance and theoretical considerations
pertaining to Insurance.
Course Outcomes
1. Impart knowledge about concept of insurance and its evolution.
2. Learn about the fundamentals of insurance business management.
3. Understand the insurance market and customer’s requirement.
Unit I: Introduction to Insurance: Insurance Defined. Evolution of

Insurance, Classifications of Insurance. How Insurance Companies
Operate. Production of Insurance. What Exposures are Insurable? The
Role and Importance of Competition in Insurance Markets. Legal
Aspects of Insurance: Legal Principles Relating to Insurance. Special
Characteristics of Insurance Contracts.
Unit II: The Business of Insurance: Management of risk by individuals –
management of risk by insurers – fixing of premiums – reinsurance
and its importance for insurers - role of insurance in economic
development and social security - contribution of insurance to the
society.
Unit III: The Insurance Market: The various constituents of the insurance
market – operations of insurance companies - operations of
intermediaries – specialist insurance companies – insurance specialists
- the role of regulators – other bodies connected with insurance.
Unit IV: Insurance Customers: Understanding insurance customers –

different customer needs - importance of customers – customer
mindsets - customer satisfaction - customer behaviour at purchase
point - customer behaviour when claim occurs - importance of ethical
behaviour.
1. R. Kothekar Liberalisation of Insurance Market, Cyber Tech Publications, New Delhi.
2. H. Sadhak, Life Insurance in India Opportunities, Challenges and Strategic
Perspective, Sage Publication, New Delhi
3. Dr.Yajuya Dutta Nayak, Prof. Jagannath Panda; Consumer Behaviour towards Life
Insurance Services, Abhijeet Publications, New Delhi.
4. Vivek Mathukar Dandekar, Insurance Risk Management and Public Policy Manglam
Publishers & Distributors, New Delhi.
INTRODUCTION TO RISK MANAGEMENT (MIR1009)
MIRM I Semester
Credit – 04
Max. Marks -100
Course Objective: Risk management is primarily concerned with determining the

likelihood that an undesirable event will occur and taking preventative actions and
remedies to minimize the adverse consequences for the business.
Course Outcomes
1. Understand the concept of Risk Management and its application in Business.
2. Strengthen the knowledge on advanced risk management techniques.
3. Understand and apply the process of risk management.
4.
UNIT - I Risk and its management: The concept of risk, Types and sources of
risk, Risk and the economic environment, risk management process,
risk management framework, Insight into Risk measurement tools
and techniques.
UNIT - II Interest Rates Risk: Overview of the markets for interest bearing
instruments, Time value of money and discounted cash flow analysis,
Yield curve mathematics
Identifying and analysing interest rate risk, Identifying and assessing
interest rate risk, evaluating interest rate risk, Managing interest
rate risk, short term and longer term Interest rate risk management
Instruments.
UNIT - III Foreign exchange Risk: Overview of the foreign exchange markets,
Identifying and assessing foreign exchange risk, Evaluating foreign
exchange rate risk, foreign currency transaction and translation risk,
spread risk, Managing foreign exchange risk, Foreign exchange risk
management instruments.
UNIT - IV Liquidity and Other Risks: Overview of liquidity markets, sources of
liquidity, Borrowing and investment principles, Identifying and
evaluating liquidity risk, managing liquidity risk, other financial risks:
Credit and counterparty risk, Commodity price risk, Pension risk
1. George Rejda, Principles of Risk Management and Insurance, Pearson Education.
2. C. Arthur, William Jr., Michael Smith, Peter Young, Risk Management and Insurance, McGraw-Hill
3. Hossack, I.B., J.H. Polland and B. Zehnawirth (1999), Introductory Statistics with Applications in General
Insurance, Cambridge University Press, Cambridge, England.
4. Trieschmann, Gustavson, Hoyt, Risk Management and Insurance, South Western College Publishing
5. A. Lenin Jothi (2009)Financial Mathematics, Himalayan Publishing House.
6. Bell, David E. and AuthureShleifer Jr. (1995), Risk Management Course Technology Inc., Cambridge,
MA
7. Gupta, P. K, Insurance and Risk Management, Himalaya Publishing House.
MANAGERIAL ECONOMICS (MIR1010)
Credit – 04
Max. Marks -100
Objective: This subject aims study the principles of managerial economics for evidence
based decision making.
Course Outcomes
1. Learn the basic theories in Managerial Economics in connection with business.
2. Demonstrate about various economic models and tools to run the business.
3. Describe mechanisms of multiplier, accelerator and skills to find the solution to
various economic problems.
Unit I: Managerial Economics: Fundamental Concept, nature and scope;

Objectives of the Firm, Economic and Non-Economic Elements and
their Interactions; Role of Micro and Macro Economic Analysis in
formulation of Business Policies; National Income, GDP & Other
Measures of National Income; Inflation: Concepts and Application
Unit II: Decision Making Consumer Behaviour: Utility Analysis; Equi-
marginal Utility; Indifference Curve; Consumer Equilibrium Demand
Decision: Meaning & Types of Demand; Determinants of Demand;
Demand Function; Demand Elasticity Demand Estimation: Methods of
Demand Estimation; Demand Forecasting; Types of Demand
Forecasting.
Unit III: Production and Pricing Decisions: Firm's behaviour in short & long
run; Cost Concepts; Cost-Output Relations; Production Function;
Elementary Description Pricing Decisions: Determinants of Price;
Pricing under different market conditions; Objectives of Pricing under
different forms of market: Perfect Competition; Monopoly; Oligopoly;
Monopolistic Competition
Unit IV: Economics Policies and Business: Monetary Policy: Components of
Money Supply; Monetary Theory and Policy; Interest Rate Policy;
Monetary Management by RBI; Credit Policy; Fiscal Policy, Tax Policy
and Reforms; Government Borrowings: Domestic and External
Commercial Policy: Foreign Trade Policy; Balance of Payment and
Balance of Trade; Current Account and Capital Account; Trends in
Exports and Imports
1. Samuelson William F.&Stephan ,G.Marks ,Managerial Economics ,Wiley 2008
2. Pindyck Robert. S, Rubinfield& Mehta, Microeconomics ,Pearson 2006
3. Mankiw.N.Gregory, Economics Principles and Applications , Cengage Learning 2007
4. G.S. Gupta; Managerial Economics, 2009
INVESTMENT PLANNING & MANAGEMENT (MIR2002)
MIRM II Semester (CBCS)
Credit – 04
Max. Marks -100
Objective: This course exposes the students to the various concepts of investment
management and provides an in-depth study of various issues there under.
Course Outcomes
1. Learn about the concepts of investment management and risk analysis.
2. Acquire knowledge about financing of investment and its effective management.
3. Impart knowledge about investment opportunities and demand analysis.
Unit I: Introduction: Nature and scope of investment Management;

Elements of investment -return, risk and time elements; Factors
favourable for Investment, Investment process, Objectives of
investment; Security return and risk analysis; Measurement of
return and risk; Approaches to investment analysis.
Unit II: Investment of Avenues: Financial investments -securities and
derivatives, deposits, tax- sheltered investments; non-financial
investment -real estate, gold and other types and their
characteristics; Sources of financial information.
Unit III: Investment Valuation of Securities: valuation of
Debentures/bonds; redeemable, deep discount, non-redeemable,
convertible debentures; valuation of preference shares and equity
shares.
Unit IV: Stock Market Analysis: Fundamental Analysis: Economic analysis,
Industry analysis and company analysis, Technical Analysis: Tools
for Technical Analysis of Market and Individua Stock, Efficient
Market Hypothesis
1. Agarwala, K.N. and DeekshaAgarwala: Bulls, Bears and The Mouse, Macmillan,
NewDelhi.
2. Cheney, J. and E. Muses: Fundamentals of Investments, Paul, New York.
3. Clark, James Fransis: Investment- Analysis and Management, McGraw Hill ,
International Edition.
4. Dalton, John M: How the Stock Markets Works, Prentice Hall, Delhi.
MARKETING OF SERVICES (MIR2003)
Credit – 04
Max. Marks -100
Objective: To develop understanding of service marketing.

Course Outcomes
1. Understand the concepts of service marketing.
2. Gain the knowledge of intricacies of service marketing.
3. Understand service marketing mix and its application in business growth.
Unit I: An Overview of Marketing: Concept, nature, scope and importance of

marketing; Marketing mix; Market segmentation and positioning;
Branding; Packaging and labelling; Product life- cycle -strategic
implications; New product development; Factors affecting price
determination; advertising, personal selling, sales promotion, publicity
and public relations.
Unit II: Fundamentals of Services: Meaning and characteristics of services;
Services in the Indian economy; Demand and supply of services;
Services marketing mix: Service product; Service pricing; Service
promotion and distribution; Process; People and Physical evidence in
services.
Unit III: Market Analysis and Service Customer Behavior: Service vision and
strategy; Sustainable differentiation; Competitive analysis of services;
Segment identification; Service decision making Perspective; Customer
expectation and marketing strategies; Brand value proposition of
services; Creating strong services brands; Consumer evaluation
process; Service quality models; Initiating and managing quality
Unit IV: Service Promotion: The role of marketing communication;
Implication for communication strategies; Setting communication
objectives; marketing communication mix; Planning and managing
service delivery: Creating delivery systems in price, cyberspace and
time; The physical evidence of the service space; The role of
intermediaries; enhancing value by improving quality and
productivity; CRM: Concept and Importance; Relationship Marketing
1. Valarie A. Zeithaml & Mary Jo-Bitner: Services Marketing-Integrating Customer
Focus Acros the Firm, 3/e, TMH, 2003.
2. Thomas J. Delong Asish Nanda: Managing Professional Servies-Text and Cases,
McGraw-Hil International, 2002.
3. Christopher Lovelock: Services Marketing People, Technology, Strategy, Fourth
Edition, Pearson Education, 2002.
4. Mark Davis, Managing Services People and Technology, McGraw-Hill
International, 2002
INSURANCE REGULATORY FRAMEWORK (MIR2007)
Credit – 04
Max. Marks -100
Objective: The course is framed to create an appreciation of the importance of the

Regulatory Environment necessary for the Insurance Business in India.
Course Outcomes
1. Impart knowledge about evolution and emergence of insurance industry in India.
2. Learn about authorities regulating insurance industry in India.
3. Learn about the functioning of Insurance Regulatory and Development Authority.
Unit I: Evaluation of Insurance Business in India: Development and

growth of Life and Non- life Insurance industry in India –
Nationalization of insurance Industry –Insurance association and
General and Life Insurance Councils – Formation, duration and
dissolution of Executive committee - Functions and Powers of the
executive committee, GIBNA, 1972.
Unit II: Insurance Regulations: Mission and Composition of IRDA –Duties
and powers and Functions of IRDA – Regulations issued –Motor
Vehicle Act 2019 – Salient features – No Fault liability – Hit and Run
Accidents –Carriage of Goods by Sea act and various other acts-
Workmen’s compensation Act – Employee State Insurance Act –
Public Liability Act.
Unit III: Rural and Micro Insurance: IRDA regulations on Obligation of
Insurers for rural and Social sector – Classification of Rural –
Obligations for Rural and social sector before and Sixth financial
Plan onwards - Micro Insurance –concept and origin – Govt
recommendations on Micro Insurance – Conditions for Micro
Insurance Agents – Life and Non life Micro Insurers Product
parameters - Regulation and working of ULIPs
Unit IV: Rules for Assignment, Transfer and Nomination: Assignment &
Transfer of policies – Recommendations of Law commission –
Nomination by Policy Holder – Prohibition of Rebates – Repudiation
clause – Recommendations of Law clause – Provisions of sec 64 VB –
Exemptions to Sec 64 VB - Provisions for Nomination of policies –
Recommendations of law commission – Provision for prohibition of
rebates- Repudiation Clause .
2. H. Sadhak, Life Insurance in India Opportunities, Challenges and Strategic Perspective, Sage
Publication, New Delhi
3. Dr.Yajuya Dutta Nayak, Prof. Jagannath Panda; Consumer Behaviour towards Life Insurance
Services, Abhijeet Publications, New Delhi.
SALES MANAGEMENT (MIR2008)
Credit – 04
Max. Marks -100
Objective: This course enlightens the students regarding the various concepts of sales
management.
Course Outcomes
1. Learn about the concepts of concepts of sales management.
2. Acquire knowledge about financing of investment and its effective management.
3. Impart knowledge about investment opportunities and demand analysis.
Unit I: Introduction and Basic Concepts: Personal Selling, Definition of Sale

and Salesmanship, marketing Environment, Sales Management
Environment, Sales Forecasting, Sales Planning Process, Sales
Management Process, Different Sales Strategies, Methods of Selling.
Unit II: Organizing and Executing the Sales: Sales Department Relations,
Prospecting, Pre-approach: Planning the Sale, The Approach, Need
Assessment, The Presentation, Meeting Objections, gaining
Commitment, Closing the Sales and Follow-up, Closing Sales, Theories
of Selling, Sales Personality.
Unit III: Sales Force Management: Recruitment Sources, Recruitment Process,
Selection process, Training Sales Representatives, Supervising Sales
Representatives, Buyer-Seller Dyads, types of Selling Jobs, Salesman
Motivation, motivation Model, Disciplined Work, Motivation Theory,
Maslow's hierarchy of Needs, Herzberg's Motivation-Hygiene Theory,
Theory X and Theory Y, Contemporary views on Motivation, Salesman
Compensation Technique, Sales Budgeting Procedures, Sales Quota,
Sales Force Management System.
Unit IV: Overview of Distribution Management: Consumer Marketing
channel, Industrial Marketing Channel, Road Transportation, Railways,
Water Transport, Air, Pipelines, Ropeways, Freight Management,
Containerization, Logistic and Supply Chain Management, Logistics and
Competitive Performance, Physical Distribution Management, The
Systems or 'Total' Approach to PDM, Distribution and Logistics Cost.
1. Ingram, T. N., LaForge, R. W., Avila, R. A., Schwepker, C. H., Jr., & Williams, M. R.(2015).Sales
management: Analysis and decision making(9th ed.). NewYork, NY: Routledge.
2. Compensating the Sales Force, David Cichelli, McGraw Hill
3. Sales Management, Robert Calvin, McGraw Hill
4. The New Solution Selling, Keith Eades, McGraw Hill
CORPORATE FINANCE (MIR2009)
Credit – 04
Max. Marks -100
Objective: This course helps the students to understand the conceptual framework of
financial management and its applications under various environmental constraints.
Course Outcomes
1. Apply financial management concepts and tools to the decisions faced by a manager in
investment decisions.
2. Apply financial management concepts and tools to the financing decisions and dividend
decisions faced by the firm.
3. Appraise the risk profile of firms; specifically, estimate the costs of capital, including debt
and equity capital, using financial data.
UNIT - I Financial Management: Meaning, nature, scope and importance of
finance, Financial goal - profit vs. wealth maximization; Finance
functions - investment, financing and dividend decisions, Time value of
money.
Leverage: Operating & Financial Leverage, Measurement of Leverages;
effects of operating and financial leverage on profit; Analysing alternate
financial plans; combined financial and operating leverage.
UNIT - II Capital Budgeting: Nature of investment decisions; Investment
evaluation criteria - net present value, internal rate of return,
profitability index, payback period, accounting rate of return.
Cost of capital: Meaning and significance of cost of capital; Calculation
of cost of debt, preference capital, equity capital and retained earnings;
combined cost of capital (weighted); cost of equity and CAPM.
UNIT - III Capital Structure: Concept, Determinants, Approaches of Capital
Structure: Net Income (NI), Net Operating Income (NOI), Traditional and
M.M. hypothesis - without taxes and with taxes,
Dividend Policies: Types of dividend policy, Determinants of Dividend
Policy, issues in dividend decisions, Walter’s model, Gorden’s model, M-
M hypothesis.
UNIT – IV Management of working capital: Concept, Types, significance and
Factors Influencing requirement of working Capital; Estimation of
working capital requirements, Sources of Financing of Working Capital,
Management of Cash, Receivables and Inventory.
1. Bhattacharya, Hrishikas: Working Capital Management: Strategies and Techniques, Prentice Hall,
New Delhi.
2. Brealey, Richard A and Steward C. Myers: Corporate Finance, McGraw Hill, Int. Ed., New York.
3. Chandra, Prasanna: Financial Management, Tata McGraw Hill, Delhi.
4. Hampton, John: Financial Decision Making, Prentice Hall, Delhi..
5. Pandey, I.M: Financial Management, Vikas Publishing House, Delhi.
6. Van Horne, J.C. and J.M Wachowicz Jr.: Fundamentals of Financial Management, Prentice-Hall, Delhi.
7. Van Horne, James C: Financial Management and Policy, Prentice Hall, Delhi.
8. Khan MY, Jain PK: Financial Management; Tata McGraw Hill, New Delhi.
9. Sudhindra Bhatt – Financial Management – Excell Book, New Delhi
MARKETING RESEARCH (MIR2010)
Credit – 04
Max. Marks -100
Objectives:
To introduce the basic concepts of research and methodology of conducting researches
in marketing domain.
Course Outcomes:
1. Apply research methodology techniques in summer training/ project work and a
winter project work.
2. Apply research methodology techniques as a Marketing Professionals.
3. Interpret development of marketing research.
UNIT-I: Introduction to Marketing Research: Definitions – classification –

marketing research process – nature of marketing – ethics in
marketing research – importance of problem definition-environment
context-internet and computer applications- Research designs
Research Design– definition – classification – usages – significance
UNIT-II: Data collection – Methods and tools Data Collection: Objectives –
data sources – data types – primary versus secondary data –
classifications of primary and secondary data – accuracy and errors –
qualitative and quantitative data – their advantages and
disadvantages – Data collection methods – data instruments –
administration of data instruments – surveys- observations –
interviews.
UNIT-III: Measurement and Scaling Techniques: Measurements and scaling
– non comparative scaling techniques – itemized rating scales – Likert
scale – semantic differential scale – staple scale – multi–item scales –
Sampling designs and procedures – Non probability sampling
Techniques – Probability Sampling techniques – Sample size
determination.
UNIT IV: Data analysis and report Writing: Nature of field work – data
checking and editing – data cleaning – frequency distribution – cross-
tabulation – hypothesis testing – chi-square, phi coefficient,
contingency coefficient, other statistics – report writing – executive
summary – final technical report.
1. Malhotra, Naresh: Marketing Research – An applied Orientation, Prentice-Hall of India, New Delhi.
(6th Edition)
2. Green, Tull and Albaum: Research for Marketing Decisions, Prentice-Hall India, New Delhi. 195
REFERENCES:
1. Kinnear and Taylor: Marketing Research – An Applied Approach, McGraw-Hill, New York.
2. Panneerselvam, R., Research Methodology, PHI Learning Pvt. Ltd., New Delhi.
3. Boyd, Westfall &Stasch, Marketing research Text & Cases, AITBS, New Delhi 2004.
4. Hair, Andersen, Black and Tatham, Multivariate Data Analysis, Pearson India Ltd, New Delhi, 2008
(7th edition)
5. Cooper and Schindler, Business Research Methods, Tata McGraw Hill, New Delhi, 2006.
PROFESSIONAL DEVELOPMENT (MIR2011)
Credits: 02
Max. Marks: 100
Viva-Voce: 40 Marks
Report: 60 Marks
Objective: The purpose of this course is to promote the development of soft skills. The
outlined activities aim to boost the confidence, enhance the personality and unleash the
potential within the students.
1. Train in skills that make strategic leaders more effective
2. Learn how to build self-awareness and confidence
3. Inculcate the spirit of organising and responsibility.
The Professional Development programme includes opportunities to further hone your skills
in:
o Presentation skills and public speaking

o Skills of debate and persuasion
o Working with impact in high-performing teams
o Negotiation skills
o Consulting skills
o Stakeholder communication
o Leadership
o Social Community Help/Volunteering
o Entrepreneurship/ Business Idea Development
o Literary & E-magazine
o Event Management
o Student Mentoring Volunteers
o Alumni Affairs
Guidelines: Refer to the report format SoP available at department of commerce webpage
Assessment criteria: 60% report writing and 40% viva-voce and presentation
PRINCIPLES AND PRACTICES OF LIFE INSURANCE (MIR3002)
MIRM III Semester (CBCS)
Credit – 04
Max. Marks -100
Objective: To familiarize with the different facets of life insurance.

Course Outcomes
1. Learn about the life insurance contract and its various aspects.
2. Impart knowledge about insurance practices and growth of life insurance business
in India.
3. Have understanding of successful management of insurance business and key terms
related to life insurance.
Unit I: The Insurance Contract: Terms of an insurance contract - principles

which form the foundation of insurance - significance of the principle
of insurable interest – the principle of indemnity - the principle of
subrogation - the principle of contribution – disclosure of all relevant
information - principle of utmost good faith - the relevance of
proximate cause - the insurance contract.
Unit II: Practice of Life Insurance: Overview of the Indian Insurance Market
- Growth of Insurance business in India - Organisational structure of
the Life Insurance Corporation of India (LIC) - Postal Life Insurance -
Organisational structure of Postal Life Insurance - Appointment of life
insurance agents and their functions - Need of an agent in life
insurance selling - Appointment of agents - Remuneration to agents -
Trends in life insurance distribution channels.
Unit III: Premiums and Bonuses: Concept of premium - Different types of
premium - Different factors considered in calculating premium -
Bonus in policies - Different types of bonus in life insurance policies.
Unit IV: Plans of Life insurance: Different types of life insurance plans -
Term Plan - Endowment Plan - Money Back Insurance Plan--Whole-
Life Insurance Plan--Unit Linked Insurance Plans (ULIPs) - Joint Life
Insurance Plans - Child Insurance Plans--Rider benefits.-- Industrial
life insurance - MWP Policies. -- Keyman insurance-- Health insurance
and its types.
2. H. Sadhak, Life Insurance in India Opportunities, Challenges and Strategic
Perspective, Sage Publication, New Delhi
3. Dr.Yajuya Dutta Nayak, Prof.Jagannath Panda; Consumer Behaviour towards Life
Insurance Services, Abhijeet Publications, New Delhi.
PRINCIPLES AND PRACTICES OF GENERAL INSURANCE (MIR3003)
Credit – 04
Max. Marks -100
Objective: To familiarize with the different facets of general insurance.

Course Outcomes
1. Learn about the various types of general insurance and their management.
2. Impart knowledge about laws related to general insurance and agencies for the
regulation of insurance market.
3. Gather knowledge about the national and international market of general insurance.
Unit - I Introduction to General Insurance: Principles of General Insurance

Classification of various types of General Insurance, Difference
between Life and General Insurance Laws under General Insurance
business , General Insurance Business (Nationalisation) Act 1972, The
Insurance Act, 1938, Insurance Regulatory Authority, Motor Vehicles
Act, 1939, The Motor Vehicle (Amendment) Act, 2019 –
Unit - II General Insurance in India: Environment of General Insurance
Underwriting Experiences Investment Income – Actuary Growth and
Market share of General Insurance Reinsurance.
Insurance Forms: Proposal Forms – Cover Notes, Certificate of
Insurance, Policy Forms, Endorsements, Interpretation of Policies, Co-
insurance, Renewal Notice.
Unit - III Health Insurance and Accident Insurance: Environment and
Product Design Mediclaim Insurance Policy – Features, Conditions,
Exclusions Overseas Mediclaim Policy Health Insurance in India and
its Prospects Personal Accident Insurance
Unit - IV Miscellaneous Insurance: Fire insurance – Marine insurance– Types
of Marine insurance policies, - Duty & increased value insurance.
Property and Liability Insurance Product Liability Insurance Fidelity
Insurance.
1. General Insurance, John Magee & David Bicklhaupt
2. Operational Transformation of General Insurance Industry during the period 1950
to 1990 & Beyond, R D Samarth
3. Study on Distribution Functions in General Insurance & Role of Intermediaries, Arun
Agarwal / P R Rao
4. General Insurance for Information Technology Professionals, Martin Frappoli.
MANAGEMENT OF FINANCIAL INSTITUTIONS (MIR3005)
Credit – 04
Max. Marks -100
Objectives: Understanding the nature and role of financial services and the purpose of these
services and their role in the development of financial markets.
Course Outcomes
1. Learn about the evolution of financial services and financial service companies in India.
2. Impart knowledge about management of capital issue to the public by the companies.
3. Learn about various financial services and their successful management.
Unit – I: Financial System and Economic Development: Interrelationship

between financial system & economic development, Interest rate
components & dynamics, financial stability, Role of Financial
Intermediaries in financial system, Role of government in financial
system, Financial Market Regulators (RBI, SEBI, IRDA, PFRDA):
Organisation, functions and powers.
Unit – II: Money, Foreign Exchange, Derivatives Markets: Money market:
Meaning, Role, features, Regulatory framework. Roles of primary
dealer in money market, Instruments traded(call money & notice
money, treasury bills, commercial papers, certificate of deposits, bill
financing): Features, purpose and issue procedures. Indian Foreign
Exchange Market, Derivatives Market in India.
Unit – III: Capital Market: Debt market (Gilt edge securities, public deposits,
REPOs, financial guarantees), Evolution of stock market in India (BSE,
NSE, OTCEI), Stock Market Indicators (Index), Primary market:
Meaning, features, Modes of raising capital, listing and delisting of
securities, Secondary Markets: Meaning, features, types of orders,
clearing and settlement procedure at BSE and NSE, Major
development.
Unit – IV: Financial Institutions: Banking institutions, NBFC, Merchant
Banking, mutual funds, insurance organizations, development finance
institutions, small payment banks, Credit Rating Agencies,
Depositories
1. Khan M Y: Indian Financial System, Tata Macgraw Hill, New Delhi 2000
2. Bhole, L M: Financial Institutions and Markets: Structure Growth and Innovations. 2nd
edition: New Delhi: Tata McGraw Hill, 1992. 572p.
3. Srivastava, R M: Financial Institutions in Indian Financial Institutions. 3rd revision ed.
Mumbai: Himalya Publishing House, 1996, 734p.
4. I M Pandey, Financial Management: Vikas Publishing House, New Delhi.
5. Prasanna Chandra, Financial Management: Tata Mc-Gaw Hill Co., New Delhi.
6. Reserve Bank of India Annual Report 1999 – 2000.
7. Report on Development Banking: Industrial Development Bank of India, 1995.
8. Economic Survey 1999 – 2000.
PRINCIPLES OF PENSION PLANNING (MIR3006)
Max Marks: 100

Sessional: 30 Marks
Examinations: 70 Marks
Course Objective: To make the students aware about fundamentals of pension

planning.
Course Outcomes:
1. Understand the concept, features and types of pension plans.
2. Acquire knowledge about regulations and pension reforms in India.
3. Deliberate the taxation of pension.
Unit-I: Introduction: Meaning and Concept of Pension & Commuted

Pension, features of a pension plan, difference between pension and
family pension. Development of Pension Plan, factors affecting the
choice of the pension plan. Type of plans: Defined Benefit plan and
Defined Contribution plan and their basic features.
Unit-II: Social Security Measures & Retirement Planning: Economic
problems of old age, social issues of ageing and the provision for
increasing longevity, issues of standard of living after retirement.
Retirement benefits; Provident Fund (PF), types of PF, Gratuity, Leave
Encashment, retrenchment compensation & Voluntary Retirement
Schemes (VRS). Retirement plans: Meaning, Concept and need of
retirement plans. Factors affecting choice of retirement plans.
Unit-III: Regulation of Pension: Need for pension reform in India, Regulation
of pension in India under old and new pension schemes, New pension
system (NPS) of India and its implementation, eligibility for NPS,
Features of the New Pension Scheme in India. Permanent Retirement
Account Number (PRAN), Types of accounts in NPS: Tier I and Tier II,
procedure and rules of withdrawal from NPS accounts
Unit-IV: Tax Provisions related with Pension and retirement benefits :
Taxation of : Pension & commutation of pension, Provident Fund (PF),
Gratuity, Leave Encashment, retrenchment compensation and
Voluntary Retirement Schemes (VRS).
Tax Benefits on Savings, Insurance & Pension Plans :Tax
Deduction on EPF contribution under EPF Act and certain pension
fund u/s 80C, Deduction in respect of contribution to certain pension
funds u/s 80CCC and pension schemes of central government u/s
80CCD,
Suggested Readings:
1. Gupta N.D., (2006) Pension Plans, The Institute of Chartered Accountant of India, New Delhi.
2. Ahuja, Giris (2008). A Systematic Approach to Income Tax (17th Edition), Bharat Law New Delhi.
3. Rajan, S.I. (2008), Social Security for the elderly, Routledge, New Delhi.
4. Dr. H.C. Mehrotra, (2019) Income Tax Law and Accounts, Sahitya Bhawan Publications, New Delhi.
SUMMER TRAINING REPORT (MIR3071)
Credit – 04
Presentation – 40
Evaluation - 60
Max. Marks -100
Course Objective: Summer Training Report majorly aims to review the

knowledge and skills acquired by the candidate during 7-8 weeks of industrial
training. Also it will act as a platform for sharing of information regarding first
hand experience of students in various organizations of the industry.
Course Outcomes

1. Explore the insurance business industry and have views towards them.
2. Learn skills during the tenure of training in various organizations of the
insurance industry.
3. Exhibit written and presentation skills through the summer training
report and presentation.
CONSUMER BEHAVIOUR (MIR 3091)(Elective)
Credit – 04
Max. Marks -100
Objective: To familiarize with the different facets of consumer behaviour.

Course Outcomes
1. Learn about the meaning and scope of Consumer Behavior and its application in
different areas of marketing.
2. Gather knowledge about various theories of motivation and their applications in
Consumer Behavior.
3. Learn about the attitude, communication and decision-making process in relation to
Consumer Behavior.
Unit I: Introduction to Consumer Behaviour: Meaning and scope of

consumer behaviour; level of analysis in consumer behaviour;
relationship between consumer behaviour and behavioural sciences;
applications of consumer behaviour in different areas of marketing;
motivation and consumer behaviour.
Unit II: Motivation Theories: Motivation theories and their application;
measurement of motivation and motivation research; meaning and
application of perception; application of absolute and differential
threshold in consumer behaviour; meaning and nature of personality.
Unit III: Attitudes & Personality Theories: Models of attitude theories of
personalities and their application in consumer behaviour; self-
concept and consumer research; attitudes and their characteristics;
different models of attitudes; measurement of attitudes.
Unit IV: Communication and Decision Making: Structure and process and
communication; audience and source dimensions in consumer
communication; medium and source dimensions; consumer decision
making views; consumer decision making process.
1. Leon G. Schiffman and Keslie, L. Kam K.: Consumer Behaviour, PHI, New Delhi.
2. Batra & Kazmi: Consumer Behaviour, Excel Books, New Delhi.
3. Kotler, Keller, Koshy and Jha: Marketing Management, Pearson Education
HUMAN RESOURCE & ORGANIZATION DEVELOPMENT
(MIR 3092) (ELECTIVE)
Credit – 04
Max. Marks -100
Objective: The purpose of this course is to introduce the fundamentals of HRM and
Organizational development to students.
1. Know about the evolution of HRM and familiarize with its scope as a discipline.
2. Understand the fundamental functions and structure of HRM and the emergence
of HRD
3. Learn about the implications of change and development in an organization
Unit 1: Introduction: Human Resource Management: Definition, Concept

and its Strategic Role; Approaches to Human Resource Management;
Mechanical, Paternalistic, Social System & HRD systems; Evolution of
HRM; Harvard framework; Personnel management vs HRM vs
Peoples Management. Difference between administration and
Management. Ethical issues in HRM
Unit 2: HR Functions& Policy making: Organizing the HR Unit; Line and
Staff Relationship; HR Policies-process and measurement; Controlling
and Outsourcing of HR functions. Human Resource planning:
Recruitment, Selection and Induction-purpose and types;
Management Development Programs. Succession planning
Unit-3: HRD & HRD Subsystems: Concept, definitions, Need and Evolution of
HRD, HRM vs. HRD, prerequisites of effective HRD systems, HRD
models, principles and challenges. HRD Climate; HRD Audit; Strategic
HRD, HRD experiences in India. HRD interventions; Organizational
Development (OD) Concept, meaning, value assumptions, OD
interventions
Unit 4: Organizational Design& Structure: Meaning, elements of
organization structure, Organization Design meaning, common
structures-flat, bureaucracy, matrix. New designs-virtual model,
boundary less organization, Lean structures, factors affecting
structures designs, implications on employee’s behaviour and
outcomes.
Suggestive Readings
1. Armstrong. M (2006). Handbook Of HRM practices (1oth Ed), Kogan page
2. Rao V.S.P.,(2005,2ndEd),“Human Resource Management” Excel Books ,New- Delhi.
3. Megginson, L.C., (1982),“Personnel and Human Resource Administration” Homewood III:
Richard D.I. rwin, p. 6.
4. Pareek, Uand Rao, T.V.,(1981)“Designing and Managing Human Resource Systems” Oxford
IBH, New- Delhi
UNDERWRITING & CLAIM MANAGEMENT (MIR4002)
MIRM IV Semester (CBCS)
Credit – 04
Max. Marks -100
Objective: To acquaint the candidates with the principles and concepts of underwriting
and providing them an overview of financial underwriting.
Course Outcomes
1. Understand the concept of underwriting and key terms related to it.
2. Learn about the life underwriting, medical and non medical underwriting and
authorities related to it.
3. Gather knowledge about the financial underwriting and claim management.
Unit I: Life Underwriting - Principles & Concepts: Concepts of

underwriting - Risk assessment - Mortality and morbidity –Assessing
individual risks - -Selection of lives - Classification of risks - Types of
extra risks: Increasing, decreasing and constant extra risks - -
Substandard and other extra risks - Level premium - Temporary extra
premium - Diminishing Lien - Exclusions - Postponement of
acceptance of risk - Declinature of the acceptance of risk.
Unit II: Issues in Life Insurance Underwriting: Numerical Rating in
underwriting - Standard, sub-standard and highly sub-standard risk -
Limitations of the numerical rating system - --Impact of nature of
occupation on underwriting - Financial Aspects & Moral Hazard - -
Methods of rating sub-standard risks - Exclusions - -Postponement or
deferment of risk - Declinature of risk
Unit III: Underwriting Structure and Process: Processing of the Proposal (
Application form) - -Policy issuance process - Non-medical and
Medical Underwriting - Medical Examination process - Underwriting
the Life Insurance process - Issuance of the Policy Document ( Policy
Bond) - Structure of an underwriting function in a life insurance office
- -Chief Medical officer (CMO) - - Underwriting-Support Team -
Underwriting Authorities
Unit IV: Financial Underwriting: Purpose of financial underwriting -
Objectives of financial underwriting - Concept of Insurable interest &
Insurable value - Personal Insurance Cover - Human Life Value -
Insurance on Housewives & Women with no earned income -
Insurance on Minors - Key Person Insurance - Partnership Insurance
1. Underwriting Principles-Author -, Joseph F Mangan / Connor M Harrison
2. Advanced Underwriting Techniques--Author - -, Joseph F Mangan / Connor M Harrison,
3. Guide to Life Assurance Underwriting including short glossary of medical terms--Author –
J.E.Evans, J E / W N Mann /
4. Underwriting management--Author – C.I.I.
BASICS OF ACTUARIAL SCIENCE (MIR4003)
Credit: 04
Max Marks: 100
Sessional: 30 marks
Examination: 70 Marks
Objectives: To familiarize students with the fundamentals of actuarial concepts

Course Outcomes:
1. Comprehend the exposure to actuarial profession and its scope.
2. Understand the Risk Management Principles, types of risk and risk mitigation
practices.
3. Learn various statistical distributions and valuation of time cash flows.
UNIT - I Introduction: Concept and utility of Actuarial science; Role and

functions of an actuary; Elements of actuarial control cycle.
Mortality/Life Tables: Concept and types of life tables; Purpose of
constructing Mortality tables; basic elements and limitations of life
table.
UNIT - II Valuing Cash Flows: Time Value of Money: Present Value,
Accumulated Value. Valuing Multiple, Regular Payments. Applications
of Valuing Cash Flows: Equations of Value, Example – Annuity Certain,
Application in Spreadsheets
UNIT - III Analysis of State Transitions: Introduction to State Transitions,
Two-State Model, Calculating Probabilities using the Two-State
UNIT - IV The Life Table: Introduction to the Life Table, Calculating
Probabilities using the Life Table. Valuing Uncertain Cash Flows:
Expected Present Value, Accumulated Value and Uncertainty
Reserving: Liability and other reserves, Adjustment to Reserves,
Sinking funds.
1. Hossack, I.B., J.H. Polland and B. Zehnawirth (1999), Introductory Statistics with
Applications in General Insurance, Cambridge University Press, Cambridge, England.
2. Babbel, David F. and Graig B. Merrill (1996), Valuation of Interest Sensitive Financial
Instruments, Society of Actuaries, Martingale.
3. A. Lenin Jothi (2009)Financial Mathematics, Himalayan Publishing House.
4. Bell, David E. and AuthureShleifer Jr. (1995), Risk Management Course Technology Inc.,
Cambridge, MA
5. Mishra K.C. and Kumar C.S.(2009) Elements of Actuarial Science, Insurance Education Series
RISK ANALYSIS AND MODELLING (MIR4006)
Credit – 04
Max. Marks -100
Objective: The objective of this paper is to equip students with some of the important
statistical techniques for risk analysis. Students will also learn how to apply risk analysis in
managerial decision making.
Course Outcomes
This course shall enable the students to:
1. Develop an understanding of the basic concepts of risk analysis
2. Understand the relationship between probability theory and modelling, risk
analysis, and decision analysis
3. Learn how to comprehend the issues surrounding the use of risk analysis in
decision making
Unit I: Statistics for Risk Analysis: Theory of Probability and Probability

Distributions: Approaches to calculation of probability. Marginal, joint and
conditional probabilities; Probability rules; Bayes‘ theorem; Expected value
and standard deviation of a probability distribution; Standard probability
distributions - Binomial, Poisson, and Normal, Payoff and Regret tables.
Decision rules under risk and uncertainty
Unit-II: Evaluation of Projects under Conditions of Uncertainity: Methods of
incorporating risk: Conventional techniques and statistical techniques: Risk
Adjusted Discount Rates, Certainty Equivalents, Treatment of Risk and
Uncertainty, Sensitivity Analysis and Probability Approach Decision Tree
Method, Capital Rationing.
Unit-III: Monte Carlo Simulations: Introduction, Random Number Generation
Theory, Random Number Generation in Practice, Variance Reduction,
deriving a set of critical values for a Dickey--Fuller test, Stimulating Risk.
Unit-IV: Modelling volatility and correlation: Models for volatility, Historical
volatility, Implied volatility models, Exponentially weighted moving average
models, Autoregressive volatility models, Autoregressive conditionally
heteroscedastic (ARCH) models, Generalized ARCH (GARCH) models,
Estimation of ARCH/GARCH models, Tests for asymmetries in volatility.
1. Humberto Barreto & Frank M. Howland. (2006). INTRODUCTORY ECONOMETRICS: Using
Monte Carlo Simulation, Cambridge Publication, UK.
2. Chris Brooks. (2008). Introductory Econometrics for Finance. Cambridge University Press,
UK.
3. Hossack, I.B., J.H. Polland and B. Zehnawirth (1999), Introductory Statistics with
Applications in General Insurance, Cambridge University Press, Cambridge, England.
4. Mishra K.C. and Kumar C.S.(2009) Elements of Actuarial Science, Insurance Education Series
5. Khan MY, Jain PK: Financial Management; Tata McGraw Hill, New Delhi.
CORPORATE TAX PLANNING & MANAGEMENT (MIR4007)
Credit – 04
Max. Marks -100
Objective: This course aims at making students conversant with the concept and implications
of Corporate Tax Management.
Course Outcomes
1. Recognize how the provisions in the corporate tax laws can be used for tax planning in
India.
2. Learn different types of incomes, their computation and taxability.
3. Understand the use of deductions of expenses to reduce the taxable income.
UNIT - I Introduction: Meaning of Tax planning, tax evasion, tax avoidance

and tax management. Types of companies, Residential status of
companies and tax incidence. Computation of Income under the head
House Property, Profit & Gain from Business or Profession, Capital
Gain and other sources. Carry forward and set off of losses.
Computation of taxable income, tax liability and calculation of MAT,
Deduction under chapter VIA.
UNIT - II Tax Planning and Financial Decisions: Implications of tax
concessions and incentives for corporate decisions in respect of
setting up a new business, location and nature of business. Tax
planning with reference to capital structure decisions, dividend
policy, bonus, shares, owning or leasing of an asset, purchase of asset
out of own or borrowed fund, manufacturing or buying; Repairing,
replacing, renewing or renovating of an asset; Sale of assets used for
scientific research, shutting down or continuing operations.
UNIT - III Business Re-organization: Tax issues relating to Amalgamations,
Demerger, Slump sale of companies. Conversion of sole proprietary
concern/partnership firm into company, Conversion of company into
LLP, Transfer of assets between holding and subsidiary companies.
UNIT - IV Tax Return Filing and Assessment: Tax deduction (TDS) and
collection of tax at source (TCS), Advance payment of tax, Interest
payable by assessee/ Government and recovery of tax, Filling of
Return, Assessment, Re-assessment, Rectification of mistakes,
Appeals and revisions, Search and Seizure, Penalties and
Prosecutions, Settlement Commission. Income Tax Authorities and
powers of CBDT.
1. Singhania, V.K. : Direct Taxes, Law and Practice, Taxmann Publications, Delhi.
2. Ahuja, G.K. and Ravi Gupta : Corporate Tax Planning and Management, Bharat Law House, New
Delhi.
4. Gaur, .V.P., D.B. Narang and Rajvee Puri, : Corporate Tax Planning & Management, Kalyani
Publication, New Delhi.
5. Goyal, S.P. : Direct Tax Planning and Management, Sahitya Bhawan Publication, Agra.
6. Lakhotia, R.N. : Corporate Tax Planning, Vision Publications, Delhi.
7. H.C. Mehrotra. : Corporate Tax Planning and Management, Sahitya Bhawan Publication, Agra.
DISSERTATION (MIR4071)
MHRM IV Semester (CBCS)
Credit – 04
Presentation – 40
Evaluation - 60
Max. Marks -100
Objective: To make students understand the contents of dissertation writing.

Students will undertake dissertation under the supervision of a teacher allotted
by the department to work on a specific topic. The study will be submitted to the
supervisor. The allotted supervisor will be responsible for topic of the study.
Course outcomes
1. Gain vast knowledge on specific topic with dissertation writing.
2. Exhibit written and oral communication skills through the presentation.
3. Build confidence to face audience and overcome stage fear with
presentation skill.
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT (MIR4091)
Credit – 04
Max. Marks -100
Objective: To gain an understanding of the processes, styles and philosophies followed and tools used
in the valuation of publicly traded securities including investment objectives, risk and return; analysis
and selection of investment securities, timing, portfolio theory and applications, and evaluation of
portfolio performance.
Course Outcomes
1. Understand the concept of portfolio building and various alternatives available for
investment.
2. Ability to understand the environment of investment and risk-return framework.
3. Construct, analyze, select and evaluate portfolios along with a deep understanding of capital
market theory and associated models.
UNIT - I Portfolio Management: Meaning, importance, objectives and various
issues in portfolio Analysis. Process of Portfolio Management, Nature and
scope of investment analysis, elements of investment, avenues of
investment, Classification of Investments, Concept of Security returns and
risk analysis.
UNIT - II Portfolio Models: Markowitz risk-return optimization model: Risk and
Return analysis, Assumptions of Markowitz’s Model, Parameters of
Markowitz’s, Diversifications co-efficient of co-relation, Effect of holding
two securities on Portfolio risk, Change in portfolio Proportions, Effects of
combining securities; Arbitrage pricing theory – Deriving the Arbitrage
Pricing Theory and Practical applications of APT.
UNIT- III Theories of Portfolio analysis: Capital Market theory- Capital market
line, security market line; Risk free lending and borrowing; recent
developments. Single Index Model: Portfolio total risk, portfolio market risk
unique risk; Sharpe’s optimisation solution, Portfolio Performance
Evaluation: Measure of return, risk adjusted measures of performance
evaluation.
UNI - IV Portfolio risk management: Concepts, Use of Derivatives, Hedging,
Benefits and Objectives of Derivative Instruments, Present position of
Derivatives Market in India. Derivative Segments: Stock, currency,
commodity etc. Derivative Financial Instruments: Forward Contracts;
Options Contracts- call and put, mechanism; Future Contract: concept,
application, mechanism; Swaps: Interest rate swaps.
1. Chance, Don M: An Introduction to Derivatives, Dryden Press, International Edition.
2. Chew, Lilian: Managing Derivative Risk, John Wiley, New Jersey.
3. Das, Satyajit: Swap & Derivative Financing, Probus.
4. Hull, J., Options: Futures and other Derivatives, Prentice Hall, New Delhi.
5. Kolb, Robert W: Understanding Futures Markets, Prentice Hall Inc., New Delhi. Kolb, Robert:
6. Financial Derivatives, New York Institute of Finance, New York.
7. Marshall, John F and V. K. Bansal: Financial Engineering- A Complete Guide to Financial Innovation,
Prentice Hc Inc., New Delhi.
8. Report of Prof. L.C.Gupta: Committee on Derivatives Trading.
RE-INSURANCE & GLOBAL INSURANCE (MIR4092)
Credit – 04
Max. Marks -100
Objective: To develop an understanding of reinsurance.

Course Outcomes
1. Understand the concept of re-insurance and key terms related to it.
2. Learn about the evolution of re-insurance and function of re-insurance.
3. Impart knowledge about the various methods of re-insurance and nuances of
Global Insurance.
Unit I: Introduction to Reinsurance: Nature of reinsurance – Analysis of

factors that influence results – Historical background – Reinsurance
in India before & after nationalization and liberalization – GIC Re –
Regional co-operation – Functions of reinsurance - Advantages
Unit II: Forms of Reinsurance: Facultative reinsurance – Treaty
reinsurance – Facultative Obligatory Treaty – Considerations for
facultative placements
Unit III: Methods of Proportional Reinsurance: Methods of Reinsurance -
Proportional reinsurance: – Surplus – Quota Share – Proportional
Treaty – Bordereaux – Premiums – Ceding Commission – Claims –
Quota Share Treaty – Quota Share & surplus combined – Specimen
Treaty Slip
Unit IV: Methods of Non-Proportional Reinsurance: Excess of Loss –
Working (Per Risk) XL - Catastrophe XL – Stop Loss XL – Aggregate
XL – Non-proportional Treaty – Ultimate Net Loss – reinsured
Retention – Premium – Burning Cost – Exposure Rating / Pareto
Loss Distribution – Reinstatement – Claims – Inception &
Termination - Specimen Treaty Slip
1. Reinsurance, Kenneth R Thompson
2. Reinsurance in the Third world, J. O. Irukwu
3. Reinsurance principles and practices, Connor M Harrison,
4. Reinsurance Underwriting, Robert Kiln.
PROFESSIONAL DEVELOPMENT (MIR......)

Credit – 02
Max. Marks -100
Objective: The purpose of this course is to promote the development of soft skills. The
outlined activities aim to boost the confidence, enhance the personality and unleash the
potential within the students.
1. Train in skills that make strategic leaders more effective
2. Learn how to build self-awareness and confidence
3. Inculcate the spirit of organising and responsibility.
The Professional Development programme includes opportunities to further hone your skills
in:
o Presentation skills and public speaking

o Skills of debate and persuasion
o Working with impact in high-performing teams
o Negotiation skills
o Consulting skills
o Stakeholder communication
o Leadership
o Social Community Help/Volunteering
o Entrepreneurship/ Business Idea Development
o Literary & E-magazine
o Event Management
o Student Mentoring Volunteers
o Alumni Affairs
Guidelines: Refer to the report format SoP available at department of commerce webpage
Assessment criteria: 60% report writing and 40% viva-voce and presentation

MIRM Revised Syllabus (27.09.2022)

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MIRM Revised Syllabus (27.09.2022)

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DEPARTMENT OF COMMERCE

Aligarh Muslim University

MIRM First Semester

MIR1005 ICT in Business 04 30 70 100

MIRM Second Semester

MIR2003 Marketing of Services 04 30 70 100

MIR2007 Insurance Regulatory Framework 04 30 70 100

MIR2008 Sales Management 04 30 70 100

Course Course Title (Core) Credits Max.

MIR3003 Principles & Practices of General 04 30 70 100

MIR3006 Principles of Pension Planning 04 30 70 100

MIRM Fourth Semester

Course Course Title (Core) Credits Max.

MIR4003 Basics of Actuarial Sciences 04 30 70 100

MIR4006 Risk Analysis and Modelling 04 30 70 100

MIR4007 Corporate Tax Planning & Management 04 30 70 100

Unit 1: Evolution of management discipline: Schools of Thought- Taylor’s

Unit I: Introduction to Insurance: Insurance Defined. Evolution of

Unit IV: Insurance Customers: Understanding insurance customers –

Course Objective: Risk management is primarily concerned with determining the

Unit I: Managerial Economics: Fundamental Concept, nature and scope;

Unit I: Introduction: Nature and scope of investment Management;

Objective: To develop understanding of service marketing.

Unit I: An Overview of Marketing: Concept, nature, scope and importance of

Objective: The course is framed to create an appreciation of the importance of the

Unit I: Evaluation of Insurance Business in India: Development and

Unit I: Introduction and Basic Concepts: Personal Selling, Definition of Sale

UNIT-I: Introduction to Marketing Research: Definitions – classification –

o Presentation skills and public speaking

Objective: To familiarize with the different facets of life insurance.

Unit I: The Insurance Contract: Terms of an insurance contract - principles

Objective: To familiarize with the different facets of general insurance.

Unit - I Introduction to General Insurance: Principles of General Insurance

Unit – I: Financial System and Economic Development: Interrelationship

Max Marks: 100

Course Objective: To make the students aware about fundamentals of pension

Unit-I: Introduction: Meaning and Concept of Pension & Commuted

Course Objective: Summer Training Report majorly aims to review the

At the end of the course students are able to:

Objective: To familiarize with the different facets of consumer behaviour.

Unit I: Introduction to Consumer Behaviour: Meaning and scope of

Unit 1: Introduction: Human Resource Management: Definition, Concept

Unit I: Life Underwriting - Principles & Concepts: Concepts of

Objectives: To familiarize students with the fundamentals of actuarial concepts

UNIT - I Introduction: Concept and utility of Actuarial science; Role and

Unit I: Statistics for Risk Analysis: Theory of Probability and Probability

UNIT - I Introduction: Meaning of Tax planning, tax evasion, tax avoidance

Objective: To make students understand the contents of dissertation writing.

Objective: To develop an understanding of reinsurance.

Unit I: Introduction to Reinsurance: Nature of reinsurance – Analysis of

PROFESSIONAL DEVELOPMENT (MIR......)

o Presentation skills and public speaking

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