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B.Com. (Investment Management) International Investment Management 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.

International Investment Management Syllabus.pdf
Major elective · Semester 6 · TY BCom IM · 4 credits · 100 marks

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Syllabus for International Investment Management

Major elective · Semester 6 · TY BCom IM · 4 credits · 100 marks

Module I: Introduction to International Investments

  • Unit 1: Global Financial Markets
  • Structure of International Financial Markets – Capital markets, money markets, Eurocurrency markets.
  • Globalisation of Financial Markets – Integration, liberalisation, and cross-border capital flows.
  • Market Participants – Institutional investors, FIIs, sovereign wealth funds.
  • Benefits and Risks of International Investing – Diversification benefits, political and economic risks.
  • Unit 2: International Investment Avenues
  • Equity Investments – ADRs, GDRs, global stock exchanges, cross-listings.
  • Debt Instruments – Eurobonds, foreign bonds, global bond markets.
  • Alternative Investments – Real estate, commodities, ETFs, hedge funds.
  • Emerging vs. Developed Markets – Opportunities, challenges, risk profiles.

Module II: Foreign Exchange Market and Currency Risk

  • Unit 3: Foreign Exchange Market Structure
  • Forex Market Participants – Banks, brokers, corporates, central banks.
  • Exchange Rate Quotations – Direct/indirect quotes, spot and forward rates.
  • Factors Affecting Exchange Rates – Inflation, interest rates, political stability.
  • Exchange Rate Regimes – Fixed, floating, managed float, currency boards.
  • Unit 4: Currency Risk and Hedging Techniques
  • Types of Currency Risk – Transaction, translation, economic risk.
  • Forward Contracts and Futures – Their role in hedging exchange rate exposure.
  • Options and Swaps – Currency options, currency swaps for risk management.
  • Measuring Currency Exposure – Tools and techniques for assessing forex risk.

Module III: International Portfolio Analysis and Valuation

  • Unit 5: International Diversification & Portfolio Theory
  • Modern Portfolio Theory (MPT) – Benefits of international diversification.
  • Country Risk & International Correlations – Impact on portfolio construction.
  • Efficient Frontier in Global Context – Risk-return trade-offs.
  • Behavioural Aspects of International Investing – Home bias, overconfidence.
  • Unit 6: International Asset Pricing Models
  • International CAPM (ICAPM) – Concept and applications.
  • Arbitrage Pricing Theory (APT) – Multifactor models for global securities.
  • Parity Conditions – Interest rate parity, purchasing power parity, Fisher effect.
  • Valuation of International Assets – Equity and bond valuation in global context.

Module IV: International Investment Strategies and Trends

  • Unit 7: International Portfolio Management Strategies
  • Active vs. Passive Global Investing – Approaches and practical considerations.
  • Top-down and Bottom-up Global Analysis – Country, sector, and company analysis.
  • Tactical and Strategic Asset Allocation – Long-term and short-term global investing.
  • Performance Evaluation of International Portfolios – Sharpe, Treynor, Jensen measures.
  • Unit 8: Contemporary Issues in International Investments
  • Global Financial Crises & Their Impact – 2008 crisis, Eurozone crisis, emerging market volatility.
  • Fintech and Digital Assets – Cryptocurrencies, tokenisation, digital exchanges.
  • Sustainable & ESG Investing Globally – Trends and global standards.
  • Regulatory Environment – Global investment regulations, SEBI and RBI guidelines for overseas investments.

Reference Books

  • 11 “International Financial Management” – Dr. P.G. Apte
  • 12 “International Finance” – V.K. Bhalla
  • 13 “Global Investing” – H.R. Machiraju
  • 14 “International Business: Environment and Management” – Francis Cherunilam
  • 15 “International Economics” – Dominick Salvatore (adapted edition widely used in India)

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.

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