Master of Commerce (M.Com.) Investment Management Syllabus - Mumbai University 2026

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Syllabus for Investment Management

Mandatory course · Semester 1 · M.Com. Banking and Finance · 4 credits · 100 marks

Module I: (2CREDITS)

Unit 1 Portfolio Management – An Introduction A) Portfolio Management – An Introduction Investment - Meaning, Characteristics, Objectives, Investment V/s Speculation, Investment V/s Gambling and Types of Investors
Portfolio Management – Meaning, Evolution, Phases, Role of Portfolio Managers, Advantages of Portfolio Management. Investment Environment in India and factors
conducive for investment in India.
B) Portfolio Analysis and Selection Portfolio Analysis – Meaning and its Components, Calculation of Expected Return and Risk, Calculation of Covariance, Risk – Return Trade
off. Portfolio Selection – Meaning, Feasible Set of Portfolios, Efficient Set of Portfolios, Selection of Optimal Portfolio, Markowitz Model, Limitations of Markowitz Model, Measuring Security Return and Portfolio Return and Risk under Single Index Model and Multi Index Model
Unit 2 Portfolio Revision and Evaluation A) Portfolio Revision and Evaluation - Portfolio Revision – Meaning, Need, Constraints and Strategies.Portfolio Evaluation – Meaning, Need, Measuring Returns (Sharpe, Treynorand
Jensen Ratios) and Decomposition of Performance.
B) Bond Valuation– Meaning, Measuring Bond Returns – Yield to Maturity, Yield to call and Bond Pricing. Bond Pricing Theorems, Bond Risks and Bond Duration. (Practical
Problems on YTM and Bond Duration)

Module II: (2CREDITS)

Unit 3 Fundamental and Technical Analysis A) Fundamental Analysis - Economy Analysis – Meaning, Framework of Economic Analysis, Forecasting, Barometric or Indicator Approach, Econometric Model Building and Opportunistic Model Building.Industry Analysis – Concept of Analysis, Industry Life Cycle, Industry Characteristics. Company Analysis – Financial Statements, Analysis of Financial
Statements, (Practical questions on Debt equity ratios, total debt ratio, proprietary ratios, interest coverage ratio, Profitability ratios related to sales, investment, equity shares and Efficiency or Activity Ratios) and Assessment of risk ( Leverages) B) Technical Analysis - Dow Theory , Meaning and Principles of Technical Analysis, Price
Chart, Line Chart, Bar Chart, Japanese Candlestick Chart, Trends and Trends and Trend
Reversals, Chart Patterns, Support and Resistance, Reversal Patterns, Continuation
Patterns and Elliot Wave Theory, Mathematical Indicators – Calculation of Moving
Averages (Simple and Exponential Moving Average), Oscillators and Relative strength
Index, Market Indicators and Fundamental Analysis V/s Technical Analysis
Unit 4 Efficient Market Theory and CAPM A) Efficient Market Theory - Random Walk Theory, The Efficient Market Hypothesis , Forms of Market Efficiency , Competitive Market Hypothesis B) CAPM- Fundamental Notions of Portfolio Theory, Assumption of CAPM, Efficient Frontier with Riskless Lending and Borrowing, Capital Market Line, Security Market Line and Pricing of Securities with CAPM. Arbitrage Pricing Theory ( APT) – The Return Generating Model, Factors Affecting Stock Return, Expected Return on Stock, APT V/s CAPM

References

Blake, David 1992, Financial Market Analysis , McGraw Hill London
Francis J.C Investments, Analysis and Management McGraw Hill New York. ● Pistolese Clifford Using Technical Analysis Vision Books
Reilly Frank K and Keith Brown Investment Analysis and Portfolio Management.

Reproduced from the University of Mumbai syllabus for M.Com. (Banking & Finance) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

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