B.Com. (Investment Management) Commodity Market Syllabus - Mumbai University
This is the TY BCom IM syllabus under NEP 2020, in force from the academic year 2026-27. The University still sets the earlier Choice Based papers alongside it for ATKT candidates, so check which scheme your exam form names before you revise.
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Syllabus for Commodity Market
Module I: Introduction to Commodity Markets
- Unit 1: Basics of Commodity Markets
- Meaning and Features of Commodity Markets – Nature, scope, and importance in economic development.
- Types of Commodities – Agricultural, energy, metal, bullion, and environmental commodities.
- Evolution of Commodity Markets in India – Historical background and transition from traditional mandi markets to organised exchanges.
- Participants in Commodity Markets – Hedgers, speculators, arbitrageurs, and traders.
- Unit 2: Commodity Exchanges and Trading Mechanism
- Major Commodity Exchanges in India – MCX, NCDEX, and ICEX: roles and functions.
- Spot Market vs Futures Market – Differences, pricing mechanism, and settlement process.
- Trading and Clearing Mechanisms – Order types, margin requirements, mark-to- market, position limits.
- Regulatory Framework – Role of SEBI, regulations pertaining to commodities, and risk mitigation.
Module II: Commodity Futures and Risk Management
- Unit 3: Commodity Futures Contracts
- Concept and Features of Commodity Futures – Standardisation, contract specifications, and delivery mechanism.
- Pricing of Commodity Futures – Cost of carry model, factors affecting futures prices.
- Commodity Indexes and Benchmarks – Understanding CRB Index, MCX indices.
- Economic and Seasonal Influences on Commodity Prices – Weather, global events, supply–demand changes.
- Unit 4: Hedging and Trading Strategies
- Hedging with Commodity Futures – Long and short hedging and their applications.
- Speculation and Arbitrage Opportunities – Understanding trading motivations and profit strategies.
- Risk Management Using Commodities – Managing price volatility in agriculture, metals, and energy sectors.
- Case Studies in Indian Commodity Markets – Practical examples of market movements, hedging outcomes.
Reference Books
- 1 Niti Nandini Hettihewa – Commodity Derivatives and Risk Management
- 2 N. R. Parasuraman – Fundamentals of Financial Derivatives
- 3 S. L. Gupta – Financial Derivatives: Theory, Concepts and Problems (relevant commodity chapters)
- 4 Hull & Sankarshan Basu (Indian adaptation) – Options, Futures and Other Derivatives
- 5 Madhu Vij – International Financial Management (commodity sections)
Reproduced from the University of Mumbai syllabus for B.Com. (Investment Management) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.