B.Sc. Actuarial Science

(Duration: 3 Years)

CURRICULUM and SYLLABUS

(Applicable for Students admitted from Academic Year 2022-23)

DEPARTMENT OF MATHEMATICS

SCHOOL OF LIBERAL ARTS AND APPLIED SCIENCES

HINDUSTAN INSTITUTE OF TECHNOLOGY AND SCIENCE

HINDUSTAN INSTITUTE OF TECHNOLOGY & SCIENCE

VISION AND MISSION

MOTTO:

To Make Every Man a Success and No Man a Failure

VISION:

To be an International Institute of Excellence, providing a conducive environment for

education with a strong emphasis on innovation, quality, research and strategic

partnership blended with values and commitment to society.

MISSION:

● To create an ecosystem that promotes learning and world class research.

● To nurture creativity and innovation.

● To instil highest ethical standards and values.

● To pursue activities for the development of the Society.

● To develop national and international collaborations with institutes and industries of

eminence.

● To enable graduates to become future leaders and innovators.

VALUE STATEMENT

● Integrity, Innovation, Internationalization

DEPARTMENT OF MATHEMATICS

VISION AND MISSION

VISION

To be a worldwide Centre for Excellence in Mathematics and Scientific computing

for the growth of Science and Technology

MISSION

M1 Imparting of quality mathematics education and the inculcating of the spirit of research

through innovative teaching and research methodologies.

M2 To achieve high standards of excellence in generating and propagating knowledge in

Mathematics.

M3 To build a community that champions and promotes the mathematician in everyone.

B.Sc. Actuarial Science

PROGRAMME EDUCATIONAL OBJECTIVES (PEO)

The Program Educational Objectives (PEOs) for Actuarial Science describe accomplishments

that students are expected to attain within three years after passing the Higher Secondary

Examinations (Academic or Vocational Stream).

PEO I: To provide students’ knowledge and insight in mathematical and statistical methods

so that they are able to assess risk in insurance, finance and other industry

professions.

PEO II: To prepare them to pursue higher studies and conduct research.

PEO III: To provide students with knowledge and capability in formulating & analysis of

mathematical uncertainty models in real life application.

PEO IV: To develop subject knowledge in the course of their study which will help them to

shine in various fields including Finance, Economics, Insurance etc.

PROGRAM OUTCOMES (ALIGNED WITH GRADUATE ATTRIBUTES) (PO)

On successful completion of the program, graduates will be able to:

PO I Knowledge Domain: Formulate mathematical models to describe actuarial and

financial risks, apply these models to problems in the real world and reflect critically on

model assumptions and limitations.

PO II Problem Analysis: Deploy the methods of logical reasoning and the techniques of

mathematical problem solving to analyse the properties and consequences of models.

PO III Presentation and Interpretation of Data: Apply economic, financial and accounting

knowledge in an actuarial context to develop modelling solutions that are informed by

financial theory and reflect business realities

PO IV Modern Tool Usage: Learn, select, and apply appropriate methods and procedures,

resources and computing tool such as Excel, MATLAB, MATHEMATICA, SPSS etc with an

understanding of the limitations.

PO V Ethics: Analyze relevant academic, professional and research ethical problems and

commit to professional ethics and responsibilities with applicable norms of the data analysis

and research practices.

PO VI Communication: Effectively communicate about their field of expertise on their

activities, with their peer and society at large. Such as, being able to comprehend and write

effective reports and design documentation, make effective presentations.

PO VII Project Management: Operate in the professional areas by maintaining awareness

of key ethical and legal issues, continuing to deepen and expand their knowledge and

recognizing how actuarial practice impacts on stakeholders and society.

PROGRAM SPECIFIC OUTCOMES (PSO)

PSO1 Have sufficient exposure to actuarial and financial mathematics & statistics to be

familiar with at least 80% of the material in five of preliminary Societies of Actuaries

credentialing exams.

PSO2 Be familiar with the role of insurance in society, basic economic theory, and the

basics of how insurance and financial markets operate.

PSO3 Develop communication, leadership and teamwork skills, and understand their

importance in the actuarial industry.

B.Sc. Actuarial Science

(120 CREDIT STRUCTURE)

SEMESTER – I

S. No. COURSE

CATEGORY

COURSE

CODE NAME OF THE COURSE L T P C S TCH

1. CF

*****

*****

Regional Language-I

(Tamil / Hindi / Telugu /

Malayalam)

Foreign Language-I

(French / German /

Spanish / Korean /

Japanese / Mandarin)

3 0 0 3 1 3

2. CF

***** English - I 3 0 0 3 1 3

3. PC

MAA0102 Introduction to Actuarial

Mathematics 3 1 0 4 1 4

4. PC MAA0103 Differential and Integral

Calculus 3 0 2 4 1 5

5. PC MAA0104 Descriptive Statistics 3 1 0 4 0 4

6. PC MAA0105 Environmental Studies 3 0 0 3 0 3

7. PC MAA0106 Value Education 1 0 0 1 0 1

Total 19 2 2 22 4 23

L – Lecture; T – Tutorial; P – Practical; C – Credit; S- Self Study;

TCH- Total Contact Hours

SEMESTER – II

S. No. COURSE

CATEGORY

COURSE

CODE NAME OF THE COURSE L T P C S TCH

1. CF

*****

*****

Regional Language-II

(Tamil / Hindi / Telugu /

Malayalam)

Foreign Language-II

(French / German /

Spanish / Korean /

Japanese / Mandarin)

3 0 0 3 1 3

2. CF *****

English -II 3 0 0 3 1 3

3. PC MAA0116 Introduction to Insurance 3 1 0 4 1 4

4. PC MAA0118 Optimization Techniques 3 1 0 4 1 4

5. PC MAA0119 Probability Theory and

Discrete Distribution 3 1 0 4 1 4

6. PC MAA0120 Stat Lab - Statistical

Software 2 0 2 3 0 4

Total 17 3 2 21 5 22

L – Lecture; T – Tutorial; P – Practical; C – Credit; S- Self Study;

TCH- Total Contact Hours

SEMESTER – III

S. No. COURSE

CATEGORY

COURSE

CODE NAME OF THE COURSE L T P C S TCH

1. PC MAA0201 Mathematics of Finance – I 3 1 0 4 1 4

2. PC MAA0202 Business Economics 3 1 0 4 1 4

3. PC MAA0203 Principles of Insurance 3 1 0 4 1 4

4. PC MAA0204 Sampling Theory and its

Applications 3 1 0 4 0 4

5. PC MAA0205 Estimation Theory 3 1 0 4 1 4

Total 15 5 0 20 3 20

L – Lecture; T – Tutorial; P – Practical; C – Credit; S- Self Study;

TCH- Total Contact Hours

SEMESTER – IV

S. No. COURSE

CATEGORY

COURSE

CODE NAME OF THE COURSE L T P C S TCH

1. PC MAA0216 Financial Markets in India 3 1 0 4 1 4

2. PC

MAA0217 Mathematics of Finance - II 3 1 0 4 1 4

3. PC MAA0218 Insurance Underwriting 3 1 0 4 1 4

4. PC MAA0219 Introduction to Stochastic

Process and Markov Model 3 1 0 4 0 4

5. PC CAB0224 Programming Using R 0 0 6 3 0 6

Total 12 4 6 19 3 22

L – Lecture; T – Tutorial; P – Practical; C – Credit; S- Self Study;

TCH- Total Contact Hours

SEMESTER – V

S. No. COURSE

CATEGORY

COURSE

CODE NAME OF THE COURSE L T P C S TCH

1. PC MAA0301 Numerical Analysis 3 0 2 4 0 5

2. PC MAA0302 Basic Accounting Concepts 3 1 0 4 1 4

3. PC MAA0303 Life and Health

Contingencies 3 1 0 4 1 4

4. PC MAA0304 Actuarial Profession 3 1 0 4 0 4

5. PC MAA0305 Time Series Analysis 3 1 0 4 0 4

Total 15 4 2 20 2 20

L – Lecture; T – Tutorial; P – Practical; C – Credit; S- Self Study;

TCH- Total Contact Hours

SEMESTER – VI

S. No. COURSE

CATEGORY

COURSE

CODE NAME OF THE COURSE L T P C S TCH

1. PC MAA0316 Group Insurance and

Retirement Benefit 3 1 0 4 1 4

2. PC MAA0317 Reinsurance Management 3 1 0 4 0 4

3. PC MAB0318 Project 0 0 20 10 0 20

Total 6 2 20 18 1 28

L – Lecture; T – Tutorial; P – Practical; C – Credit; S- Self Study;

TCH- Total Contact Hours

SEMESTER I

COURSE

TITLE INTRODUCTION TO

ACTUARIAL MATHEMATICS CREDITS 4

COURSE

CODE MAA0102

COURSE

CATEGO

RY

PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignmen

ts/ Project

Surpri

se Test

/ Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of actuarial science.

Course

Objective

1. To recognize mathematical notations of algebra and how to perform

permutation and combination.

2. To use the formula for a general term in a Binomial expansion.

3. To classify arithmetic, geometric and harmonic progressions.

4. To relate exponential and logarithmic series.

5. To perform the operations on matrices and finding eigen values and eigen

vectors.

Course

Outcome

Upon completion of this course, the students will be able to

1. Utilize permutation and combination.

2. Calculate the particular and general term using Binomial expansion.

3. Identify the pattern using arithmetic, geometric and harmonic progression.

4. Calculate the summation of series and limit and approximation

5. Perform matrix operations and determine eigen values and eigen vectors.

Prerequisites: Basics of economics, finance

CO, PO AND PSO MAPPING

CO PO-

1

PO-

2

PO-

3

PO-

4

PO-

5

PO-

6

PO-

7

PSO

-1

PSO

-2

PSO-

3

CO-1 2 2 - - - 2 - - - -

CO-2 2 2 - - - 2 - - - -

CO-3 2 2 - - - 2 - - - 3

CO-4 2 2 - 2 - 2 - - 2 -

CO-5 2 2 - 2 - 2 - - - -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INTRODUCTION TO ALGEBRA (9L+3T)

Mathematical Notation - Greek Symbols – Convention – Proof – Expression,

Equations & Formulae – Terms & Factors - Mathematical Induction –

Indices – Logarithms– Fractions – Quadratic Equation – Simultaneous

equation - Inequalities – Arithmetic & Geometric Mean Inequalities - M

Notation – Σ notation – Convergence – Standard summations – Swapping

the order of notation – Permutation – Combination.

Self Study: Inequalities

CO-1

BTL-3

MODULE 2:MATHEMATICAL INDUCTION TO BINOMIAL THEOREM (9L+3T)

Binomial Theorem for a positive integer index- Properties of binomial

coefficients – General term in the binomial expansion - Middle term in the

binomial expansion – Greatest term in the binomial expansion – Binomial

theorem for any index.

Self Study: Properties of binomial coefficients

CO-2

BTL-3

MODULE 3:PROGRESSION (9L+3T)

Arithmetic Progression – Geometric Progression – Harmonic Progression.

Self Study: Sequence of numbers

CO-3

BTL-3

MODULE 4:SERIES (9L+3T)

Exponential series- Exponential theorem (statement only) – Summation of

series, Expansions and approximations. Logarithmic Series – Calculation of

Logarithms - Summation of series, Expansions, Limits and approximations.

Self Study: Series of numbers

CO-4

BTL-3

MODULE 5:VECTORS & MATRICES (9L+3T)

Notations & Arithmetic – Magnitude – Scalar Product – Matrices – Matrix

Multiplication – Determinants - Inverses – Eigen Values – Eigen Vectors.

Self Study: Types of matrices

CO-5

BTL-3

TEXT BOOKS

1. S. J. Garret (2015), Introduction to Actuarial and Financial Mathematical Methods,

Elsevier, First Edition, USA.

2. Dr P. Mariappan (2015), Business Mathematics, Pearson, First Edition, New Delhi.

REFERENCE BOOKS

1. S. David Promislow (2015), Fundamentals of Actuarial Mathematics, Wiley, Third

Edition, UK.

E-BOOKS

1. https://www.actuariayfinanzas.net/images/sampledata/FundamentalsofActuarialMath

ematics_S.DavidPromislow2015.pdf

2. http://www.ru.ac.bd/stat/wp-content/uploads/sites/25/2019/03/409_03_00_Garrett-

Introduction-to-Actuarial-and-Financial-Mathematical-Methods-2015.pdf

MOOC

1. https://www.edx.org/course/introduction-to-actuarial-science

2. https://www.researchgate.net/publication/325122116_Developing_an_Introduction_t

o_Actuarial_Science_

COURSE

TITLE DIFFERENTIAL AND INTEGRAL

CALCULUS CREDITS 4

COURSE

CODE MAA0103

COURSE

CATEGORY PC L-T-P-S 3-0-2-1

Version 1.0 Approval

Details

LEARNIN

G LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of real analysis.

Course

Objective

1. To characterize constants and functions with limitations.

2. To find the derivative using first principle, chain rule and Leibnitz’s

Theorem

3. To perform partial differentiation of a function of two variables

4. To classify definite and indefinite integrals

5. To perceive the knowledge on multiple integrals

Course

Outcome

Upon completion of this course, the students will be able to

1. Apply limit on functions and derive the theorems on limit.

2. Calculate the rate of change and successive derivatives of a function.

3. Obtain partial derivatives and apply Euler’s theorem

4. Evaluate definite and indefinite integrals

5. Determine the area and volume using multiple integrals and evaluate beta

and gamma functions.

Prerequisites: Basic of sets and functions

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 - 2 - 3 - - - - - -

CO-2 - 2 - 3 - - - - - -

CO-3 1 2 - 3 - - - - - -

CO-4 1 2 - 3 - - - - - -

CO-5 - 2 - 3 - - - - - 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:FUNCTION AND LIMITS (9L+6P)

Constants and variables – Function- Absolute value or modulus –

Neighborhood of a Number – Limit of a Function - Theorems on limit –

List of important results – Continuous Function.

Self Study: Limit of a Function

Lab: Basic Representation of MATLAB

CO-1

BTL-3

MODULE 2:DIFFERENTIATION (9L+6P)

Slope and Rate of Change – Derivative [First Principle] – Method for

Evaluating the Differential Coefficient using the First Principle and

Standard Results – Derivative of Logarithmic function and Exponential

Function – Chain rule – Differentiation of an Implicit Function –

Logarithmic Differentiation – Successive Differentiation – Definition and

Notations – Leibnitz’s Theorem on Successive Differentiation.

Self Study: Chain rule

Lab: Differentiation of single variable

CO-2

BTL-3

MODULE 3:PARTIAL DIFFERENTIATION (9L+6P)

Derivation of partial derivation – Successive partial derivation –

Homogeneous function- Euler’s theorem – Partial derivatives of a

function of two functions. (Note: Simple Problem only)

Self Study: Homogeneous function

Lab: Partial Differentiation of multi variable

CO-3

BTL-3

MODULE 4:INTEGRATION TECHNIQUES (9L+6P)

Integration of the forms

(i) ∫ [(𝒆𝒙 + 𝒒)/(𝒂𝒙𝟐 + 𝒃𝒙 + 𝒄)]𝒅𝒙

ii)∫ 𝒅𝒙/(𝒂 + 𝒃𝒄𝒐𝒔𝒙)-Integration by parts - Definite integral-Properties

of definite integral-Reduction formula

∫ 𝒔𝒊𝒏𝒏𝒙𝒅𝒙 , ∫ 𝒄𝒐𝒔𝒏𝒙𝒅𝒙 , ∫ 𝒕𝒂𝒏𝒏𝒅𝒙 , ∫ 𝒔𝒊𝒏𝒏𝒙𝒅𝒙𝒏

𝟐𝟎

, ∫ 𝒄𝒐𝒔𝒏𝒙𝒅𝒙𝒏

𝟐𝟎

and

simple problems.

Self Study: Definite integral

Lab: Integration of single variable

CO-4

BTL-3

MODULE 5: MULTIPLE INTEGRAL (9L+6P)

Double integral – Triple integral- Change of order of integration -

Improper Integral – Gamma function – Beta function.

Self Study: Improper Integral

Lab: Integration of multi variable

CO-5

BTL-3

TEXT BOOKS

1. S. Narayanan and T. K. Manickavasagam Pillay (2014), Calculus Volume I,

S. Viswanathan Pvt. Ltd, India.

2. Bhupander Singh, S.K.Pundir (2021), Differential Calculus and Integral Calculus,

Pragathi Publications, India.

REFERENCE BOOKS

1. Dr P. Mariappan (2015), Business Mathematics, Pearson Indian

Education Service Pvt. Ltd, India.

2. Dr.P.R. Vittal & Dr. V.Malini (2014) Calculus, Margham Publication, India.

E BOOKS

1. http://www.themathpage.com

2. http://mathworld.wolfram.com

3. http://www.analyzemath.com/calculus

MOOC

1. https://itemspro.eu/2020/12/15/mooc-differential-and-integral-calculus-2021/

2. https://openlearning.aalto.fi/course/view.php?id=168

COURSE

TITLE DESCRIPTIVE STATISTICS CREDITS 4

COURSE

CODE MAA0104

COURSE

CATEGORY PC L-T-P-S 3-1-0-0

Version 1.0 Approval

Details

LEARNIN

G LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessmen

t

Seminar/

Assignments/

Project

Surpris

e Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of descriptive statistics.

Course

Objective

1. To classify the different types of data

2. 2. To identify different ways of summarizing the data

3. To demonstrate proficiency with statistical analysis of univariate data

4. To determine the relationship between the variables

5. To explore suitable mathematical models for finding correlation and

regression between two variables.

Course

Outcome

Upon completion of this course, the students will be able to

1. Classify different types of tabulation

2. Construct histogram and frequency polygon to represent the given data

3. Calculate measures of central tendency and measures of dispersion for

univariate data.

4. Determine correlation coefficient and rank correlation for bivariate data.

5. Estimate regression coefficient and standard error.

Prerequisites: Basic of statistics

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 2 1 1 1 - - - 1 2 -

CO-2 2 1 - 1 - - - 1 2 3

CO-3 2 1 - 1 - - - 1 2 3

CO-4 2 1 - - - - 1 1 2 3

CO-5 2 1 1 - - - 1 1 2 3

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INTRODUCTION (9L+3T)

Origin, growth, meaning, Definition of statistics – Collection of Data –

Primary and Secondary data – Choice of methods – Direct personal

observation – Indirect oral interview – Information through agencies -

Mailed questionnaire – Selection and training of field investigators –

Classification and tabulation - Introduction – Different types of

classification – Different types of tabulation.

CO-1

BTL-3

MODULE 2:DATA PRESENTATION (9L+3T)

Diagrammatic presentation-Different types of diagrams (One

dimensional and Two dimensional) – Graphic presentation –

Histogram – Frequency curve – Frequency Polygon - Ogives.

CO-2

BTL-3

MODULE 3:ANALYSIS OF DATA (UNIVARIATE) (9L+3T)

Introduction – Measures of Central Tendency (Averages) –

Arithmetic Mean – Median – Mode – Geometric Mean –

Harmonic Mean – Graphical location of the partition values –

Dispersion – Measure of Dispersion – Coefficient of Dispersion

– Moments – Skewness –Kurtosis..

CO-3

BTL-3

MODULE 4:ANALYSIS OF DATA (BIVARIATE) (9L+3T)

Introduction – Meaning of Correlation – Scatter Diagram – Karl

Pearson’s Correlation Coefficient – Rank Correlation –

Spearman’s Rank Correlation –Problems.

CO-4

BTL-3

MODULE 5:ANALYSIS OF DATA (FITTING OF MATHEMATICAL MODELS)

(9L+3T)

Introduction – Lines of regression – Regression Coefficients –

Properties of Regression Coefficients – Angle between Two

lines of Regression – Standard Error of Estimate – Correlation

coefficient between observed and estimated values.

CO-5

BTL-3

TEXT BOOKS

1. R. S. N. Pillai (2019), Statistics, S. Chand & Company Pvt. Ltd, New Delhi.

2. S.C. Gupta and V.K. Kapoor (2012), Fundamentals of Mathematics and statistics,

Sultan Chand & Sons Publishers, 11th Edition, New Delhi.

REFERENCE BOOKS

1. Study Material (2018) ActEd Statistics Pack, Institute and Faculty of Actuaries (IFOA).

2. Irwin Miller, Marylee’s Miller (2013) John E. Freund’s Mathematical Statistics with

Applications, Irwin Miller Marylee’s Miller, 8th Edition, Pearson Publications, USA.

E BOOKS

1. https://nptel.ac.in

2. http://ebooks.lpude.in.statistics

MOOC

1. https://www.coursera.org/courses?query=descriptive%20statistics

2. https://www.my-mooc.com/en/mooc/intro-to-descriptive-statistics--ud827/

COURSE

TITLE ENVIRONMENTAL

STUDIES CREDITS 3

COURSE

CODE MAA0105

COURSE

CATEGORY PC L-T-P-S 3-0-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessmen

t

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of environmental studies.

Course

Objective

1. To learn the scope, importance of environmental studies

2. To acquire knowledge about eco system and its different types

3. To differentiate renewable and non renewable resources

4. To get the idea of biological diversity and its conservation

5. To classify environmental pollution

Course

Outcome

Upon completion of this course, the students will be able to

1. Review sustainable development and its role in environmental studies

2. Compare the function of ecosystems to humans, animals and plants

3. Analyze the impact of deforestation and alternate resources.

4. Describe biological diversity, its threats and services. 5. Compile the types of environmental pollution, causes and its impact on

human health.

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 - - - - - - 2 - - -

CO-2 - - - - 1 - 3 - - -

CO-3 - - - - 1 - 3 - - -

CO-4 - - - - 1 - 3 - - -

CO-5 - - - - 1 - 3 - - -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INTRODUCTION TO ENVIRONMENTAL STUDIES (9L)

Multidisciplinary nature of environmental studies; Scope and importance;

concept of sustainability and sustainable development.

CO-1

BTL-3

MODULE 2:ECOSYSTEM (9L)

What is an ecosystem? Structure and function of ecosystem; Energy flow

in an ecosystem: Food chains, food webs and ecological succession, Case

studies of the following ecosystem: a) Forest ecosystem b) Grassland

ecosystem c) Desert ecosystem d) Aquatic ecosystem (ponds, stream,

lakes, rivers, ocean, estuaries).

CO-2

BTL-3

MODULE 3:NATURAL RESOURCES : RENEWABLE AND NON – RENEWABLE

RESOURCES (9L)

Land resources and landuse change: Land degradation, soil erosion and

desertification. Deforestation: Causes and impacts due to mining, dam

building on environment, forests, biodiversity and tribal populations.

Water -Use and over –exploitation of surface and ground water, floods,

droughts, conflicts over water (international and inter-state). Energy

resources- Renewable and non-renewable energy sources use of alternate

energy sources, growing energy needs, case studies.

CO-3

BTL-3

MODULE 4:BIODIVERSITY AND CONSERVATION (9L)

Levels of biological diversity: genetics, species and ecosystem diversity,

Biogeography zones of India: Biodiversity patterns and global biodiversity

hot spots -India as a mega- biodiversity nation, Endangered and endemic

species of India. -Threats to biodiversity: Habitat loss, poaching of wildlife,

man- wildlife conflicts, biological invasions; Conservations of biodiversity:

In-situ and Ex-situ Conservation of biodiversity- Ecosystem and

biodiversity services: Ecological, economic, social, ethical, aesthetic and

Informational value.

CO-4

BTL-3

MODULE 5:ENVIRONMENTAL POLLUTION (9L)

Environmental pollution: types, causes, effects and controls: Air, Water,

soil and noise Pollution. Nuclear hazards and human health risks - Solid

waste management: Control measures of urban and industrial waste-

Pollution case studies

CO-5

BTL-3

TEXT BOOKS

1.

M. Basu, X. Savarimuthu (2017), Fundamentals of Environmental Studies,

Cambridge University Press, ISBN-13: 978-1107536173, UK.

2. Pepper I.L., Gerba C.P&Brusseau, M.L (2011), Environmental and Pollution

Science. Academic Press, USA.

REFERENCE BOOKS

1. Rosencranz, A., Divan, S., & Noble, M.L. (2011), Environmental law and policy

in India, Oxford Publications, New Delhi.

2. Singh, J.S., Singh, S.P and Gupta, S.R. (2014), Ecology, Environmental Science and

Conservation. S.Chand Publishing, New Delhi.

E BOOKS

1. https://www.hzu.edu.in/bed/E%20V%20S.pdf

2. https://lecturenotes.in/subject/559/environmental-studies

MOOC

1. https://www.my-mooc.com/en/categorie/environmental-science

2. https://www.classcentral.com/course/swayam-environmental-studies-14042

COURSE

TITLE VALUE EDUCATION CREDITS 1

COURSE

CODE MAA0106

COURSE

CATEGORY PC L-T-P-S 1-0-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessmen

t

Seminar/

Assignments/

Project

Surpris

e Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Descriptio

n

To make the student work with right attitude and standards to face the

outside world

Course

Objective

1. To relate the purpose and significance of value education to develop all dimensions

of human 2. To make use of important values for life 3. To impart human rights and fundamental rights under Indian constitution 4. To relate man and nature 5. To figure out social evils

Course

Outcome

Upon completion of this course, the students will be able to

1. Develop their mind set to balance inner and outer body, mind and intellectual level

2. Apply decision making skill and positive and creative thinking

3. Implement universal declaration of human rights and violations

4. Utilize interrelationship of all beings and have environment management skill

5. Analyze corruption and handle with atrocities against women

Prerequisites: Basics of Human Rights

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO

-1

PSO

-2

PSO

-3

CO-1 - - - - - 3 - - - -

CO-2 - - - - - 3 - - - -

CO-3 - - - - - 3 - - - -

CO-4 - - - - - 3 - - - -

CO-5 - - - - - 3 - - - -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:VALUE EDUCATION (3L)

Value education-its purpose and significance in the present world –

Value system – The role of culture and civilization – Holistic living –

balancing the outer and inner – Body, Mind and Intellectual level –

Duties and responsibilities.

CO-1

BTL-3

MODULE 2:SALIENT VALUES FOR LIFE (3L)

Salient values for life – Truth, commitment, honesty and integrity,

forgiveness and love, empathy and ability to sacrifice, care, unity, and

inclusiveness, Self-esteem and self-confidence, punctuality – Time, task

and resource management – Problem solving and decision making skills

– Interpersonal and Intra personal relationship – Team work – Positive

and creative thinking.

CO-2

BTL-3

MODULE 3:HUMAN RIGHTS (3L)

Universal Declaration of Human Rights – Human Rights violations –

National Integration – Peace and non-violence – Dr.A P J Kalam’s ten

points for enlightened citizenship – Social Values and Welfare of the

citizen – The role of media in value building.

CO-3

BTL-3

MODULE 4:ENVIRONMENT AND ECOLOGICAL BALANCE (3L)

Interdependence of all beings – living and non-living. The binding of

man and nature – environment conservation and enrichment.

CO-4

BTL-3

MODULE 5:SOCIAL EVILS (3L)

Social Evils – Corruption, Cyber-crime, Terrorism – Alcoholism,

Drug addiction – Dowry – Domestic violence – untouchability –

female infanticide – atrocities against women – How to tackle them

CO-5

BTL-3

TEXT BOOKS

1. Swami Vivekananda (2020), Call to the Youth for Nation Building, Advanta Ashrama,

Calcutta.

2. M.G. Cithara (2013), Education and Human Values, A.P.H. Publishing Corporation,

New Delhi.

REFERENCE BOOKS

1. Satchidananda, M.K (2017), Ethics, Education, Indian Unity and Culture, Ajanta

Publications, Delhi.

2. Das, M.S. & Gupta, V.K (2015), Social Values among Young adults: A changing

Scenario, M.D. Publications, New Delhi.

E BOOKS

1. https://www.learningclassesonline.com/2021/02/value-education-pdf.html

2. https://educatorsresource.in/product-category/digital-books/value-education/

MOOC

1. https://www.academia.edu/13372051/VALUE_EDUCATION_IN_MOOC

SEMESTER II

COURSE

TITLE INTRODUCTION TO

INSURANCE CREDITS 4

COURS

E CODE MAA0116

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessmen

t

Second

Periodical

Assessmen

t

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Descripti

on

To provide theoretical knowledge in the field of banking and insurance as well as

exposure to the market reforms and all the finance policies.

Course

Objective

1. To provide a basic understanding risk management

2. To gain the knowledge on Insurance Mechanism

3. To figure out business of insurance

4. To learn about insurance contract

5. To give an overview of major Life Insurance and General Insurance Products

Course

Outcome

Upon completion of this course, the students will be able to

1. Analyse the various types of risk management

2. Apply the various types of Life Insurance

3. Utilize the business of insurance.

4. Implement insurance contract and use principle of indemnity

5. Apply life insurance products

Prerequisites: Basics of Insurance

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 - - 2 1 1 - 1 - 2 2

CO-2 - - 2 1 1 - 1 - 2 2

CO-3 2 2 2 1 1 - 1 - 2 2

CO-4 2 2 2 1 1 - 1 2 2 2

CO-5 2 2 2 1 1 - 1 2 2 2

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:RISK MANAGEMENT (9L+3T)

Meaning of risk – Types of risks – Risk analysis – Risk Management

techniques – Risk retention.

Self Study: Types of risks

CO-1

BTL-4

MODULE 2:THE CONCEPT OF INSURANCE AND ITS EVOLUTION (9L+3T)

Concept of insurance – Insurance (evolved and works) – Types of

insurance – Importance of insurance industry

Self Study: Importance of insurance industry

CO-2

BTL-3

MODULE 3:THE BUSINESS OF INSURANCE (9L+3T)

How risk is managed by individuals and insurers – premium – Importance of

reinsurance - role of insurance in economic development and society.

Self Study: Importance of reinsurance

CO-3

BTL-3

MODULE 4:THE INSURANCE CONTRACT (9L+3T)

Introduction – Insurable interest – Principle of indemnity – Subrogation

and contribution – Utmost good faith- Proximate cause.

Self Study: Insurable interest

CO-4

BTL-3

MODULE5:LIFE INSURANCE PRODUCTS (9L+3T)

Traditional products – Linked products – Annuities and group policies.

Self Study: Linked products

CO-5

BTL-3

TEXT BOOKS

1. Hull (2016), Risk Management, Wiley Publisher, ISBN-10 9788126560615, ISBN-13:

978-8126560615, New Delhi.

2. E. J. Vaughan, T. M. Vaughan (2014) Essentials of Risk Management and Insurance,

ISBN: 978-0-471-23333-6, Wiley publication, New Jersey.

REFERENCE BOOKS

1. Dorfman S. Mark (2015), Introduction to risk management and insurance, Prentice hall

Series in Finance, India.

2. George E. Rejda (2017), Principles of Risk Management and Insurance, Pearson

Education, ISBN-10 9789332584921, USA.

E BOOKS

1. https://www.routledge.com/Insurance-Law-An-

Introduction/Merkin/p/book/9781843116776

2. https://www.kobo.com/us/en/ebook/insurance-law-an-introduction

MOOC

1. https://www.coursera.org/lecture/financial-markets-global/insurance-fundamentals-

X6HV1

2. https://www.linkedin.com/pulse/introduction-insurance-mooc-5-19-july-ant-gould

COURSE

TITLE OPTIMIZATION TECHNIQUES CREDITS 4

COURSE

CODE MAA0118

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student understand the basic concepts of operations research

Course

Objective

1. To introduce the scope and application of operations research

2. To calculate the optimized solution for linear programming problem

3. To perceive the knowledge on duality of LPP

4. To characterize transportation and assignment problems

5. To calculate project duration of the given network

Course

Outcome

Upon completion of this course, the students will be able to

1. Formulate linear programming problem and apply graphical method

2. Determine optimized solution for LPP

3. Construct the dual problem and determine the optimized solution for the same

4. Estimate transportation cost and optimized assignment

5. Construct the network diagram and compute the project duration using PERT

and CPM

Prerequisites: Basics of Mathematics

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 1 2 2 - - - - 1 1

CO-2 1 1 2 2 - - - - 1 1

CO-3 1 1 2 2 - - - - 1 1

CO-4 1 1 2 2 2 - 2 - 1 1

CO-5 1 1 2 2 2 - 2 - 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1: ORIGIN AND DEVELOPMENT OF O.R. (9L+3T)

Origin and development of O.R. – Nature and features of O.R. – Scientific

methods in O.R. –Methodology of operations research – Applications of

O.R. – Opportunities and shortcomings of O. R. –Formulation of L.P.P. -

Graphical solution -General L.P.P, Canonical and standard forms of L.P.P.

Self Study: Opportunities and shortcomings of O.R

CO-1

BTL-3

MODULE 2:SIMPLEX METHODS TO SOLVE LPP (9L+3T)

Simplex methods to solve LPP (Ordinary Simplex method, Big-M-method,

Two-phase-Simplex method).

Self Study: Ordinary Simplex method

CO-2

BTL-3

MODULE 3:DUALITY IN L.P.P (9L+3T)

Duality in L.P.P- Introduction, General primal – Dual pair, formulating a

dual problem, Dual simplex method – Sequencing.

Self Study: Dual pair

CO-3

BTL-3

MODULE 4:TRANSPORTATION AND ASSIGNMENT PROBLEMS (9L+3T)

Introduction – General transportation problem (theorems are not included) –

the transportation problem – Finding an initial basic feasible solution –

Degeneracy in transportation problem – MODI method – Some exceptional

cases.

Assignment problem: Introduction – Mathematical formulation of the

problem – The assignment method.

Self Study: General transportation problem

CO-4

BTL-3

MODULE 5:PERT AND CPM (9L+3T)

Introduction – Network and basic components – Logical sequencing –

Rules of network construction – Critical path Analysis – Probability

consideration in PERT – Distinction between PERT and CPM.

Self Study: Logical sequencing

CO-5

BTL-3

TEXT BOOKS

1. Michael Carter, Camille C. Prince, Ghaith Rabadi (2018), Operations Research, CRC

Press, USA.

2. Kanti Swarup, P.K.Gupta, Man Mohan (2010), Operation Research, Sultan Chand &

Sons, New Delhi.

REFERENCE BOOKS

1. Frederick S. Hillier (2010), Introduction to Operation Research, McGraw-Hill

Publication, Boston Publisher, New York.

2. P. Mariappan(2012), Operation Research-An Introduction, Pearson, India.

E BOOKS

1. https://www.bbau.ac.in/dept/UIET/EME-601%20Operation%20Research.pdf

2. https://www.eolss.net/ebooklib/bookinfo/optimization-operations-research.aspx

MOOC

1. https://www.edx.org/course/operations-research-an-active-approach

2. https://onlinecourses.nptel.ac.in/noc19_ma29/preview

3. https://www.coursera.org/courses?query=operations%20research

COURSE

TITLE

PROBABILITY THEORY & DISCRETE

DISTRIBUTION

CREDITS 4

COURSE

CODE MAA0119

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description

To expose the students to the basics of Probability theory and discrete

distribution

Course

Objective

1. To utilize the theory of probability

2. To perceive the knowledge on random variables and distribution functions

3. To find the mathematical expectation

4. To classify Bernoulli, Binomial and Poisson distribution

5. To recognize negative Binomial, Geometric and hyper geometric

distribution

Course

Outcome

Upon completion of this course, the students will be able to

1. Determine the conditional probability using Baye’s theorem.

2. Classify the type of random variables and distribution function.

3. Determine the moment generation function and mathematical expectation

of a function

4. Derive mean, variance and moment generating function for the Bernoulli,

Binomial and Poisson distribution.

5. Determine mean, variance and moment generating function of negative

binomial distribution, geometric and hyper geometric distribution

Prerequisites: Basics of Probability

CO, PO AND PSO MAPPING

1: Weakly related, 2: Moderately related and 3: Strongly related

CO PO-1 PO-2 PO-3 PO-

4 PO-5 PO-6 PO-7

PSO-

1

PSO-

2

PSO-

3

CO-1 1 - 1 - - - - 1 - 1

CO-2 1 - 1 - - - - 1 - 1

CO-3 1 - 1 - - - 2 1 - 1

CO-4 1 2 1 - 1 - 2 1 - 1

CO-5 1 2 1 - 1 - 2 1 - 1

MODULE 1:THEORY OF PROBABILITY (9L+3T)

Introduction – Short History – Basic Terminology – Mathematical Probability –

Statistical Probability – Subjective Probability – Mathematical Tools

(Preliminary notions of Sets) – Axiomatic Approach to Probability – Addition

theorem of Probability – Conditional Probability – Multiplication theorem of

Probability – Multiplication theorem of Probability of independent – Extension

of Multiplication theorem of Probability to ′n′ events – Baye’s Theorem

Self Study: Axiomatic Approach to Probability

CO-1

BTL-3

MODULE 2:RANDOM VARIABLES & DISTRIBUTION FUNCTIONS (9L+3T)

Introduction – Distribution Functions – Discrete Random Variable – Continuous

Random Variable. Two-Dimensional random variable: Joint Probability Mass

Function – Joint Probability Distribution Function – Marginal Distribution

Function – Joint Density Function – Marginal Density Function – Conditional

Distribution Function – Conditional Probability density function – Stochastic

Independence.

Self Study: Discrete Random Variable, Continuous Random Variable

CO-2

BTL-3

MODULE 3:MATHEMATICAL EXPECTATION (9L+3T)

Introduction –Mathematical Expectation – Expected value of function of a

random variable – Properties of Expectation (Addition theorem and

Multiplication theorem)–Properties of Variance– Covariance. Generating

Functions: Moment generating function– Cumulates – Properties of

Cumulants.

Self Study: Properties of Variance

CO-3

BTL-3

MODULE 4:BERNOULLI DISTRIBUTION, BINOMIAL DISTRIBUTION AND

POISSON DISTRIBUTION (9L+3T)

Bernoulli Distribution – Introduction to Binomial Distribution – Moments

recurrence relation for the moments– mean deviation about mean, mode

MGF – Additive property – Cumulants – Recurrence relation for Cumulants

– Fitting of Binomial Distribution – Introduction to Poisson distribution–

Moments –Mode – Recurrence relation for the moments – MGF –

Characteristic function –Cumulants – Additive property – Fitting of Poisson

Distribution.

Self Study: Additive property, Cumulants

CO-4

BTL-3

MODULE 5:NEGATIVE BINOMIAL DISTRIBUTION, GEOMETRIC DISTRIBUTION

AND HYPERGEOMETRIC DISTRIBUTIONS (9L+3T)

Introduction to Negative Binomial Distribution – MGF of Negative Binomial

Distribution– Cumulants – Poisson as limiting case – Geometric Distribution –

Lack of memory concept– Moments of Geometric Distribution–

Hypergeometric Distribution – Mean and Variance of Hypergeometric

Distribution. Approximation to Binomial Distribution

Self Study: Poisson as limiting case

CO-5

BTL-3

TEXT BOOKS

1. C. M. Grinstead, L. J. Snell (2020), Discrete Probability Distributions.

https://stats.libretexts.org/@go/page/3121.

2. M. Smart (2018), Probability Theory: Introduction to Random Variables and

Probability Distributions, Kindle Edition, ISBN-13 : 978-1723833724

3. S.C. Gupta and V.K. Kapoor (2012), Fundamentals of Mathematics and statistics,

Sultan Chand & Sons Publishers, 11th Edition, New Delhi.

REFERENCE BOOKS

1. V. R. Prayag, P. G. Dixit, P. S. Kapre (2018), Discrete Probability and Probability

Distributions Statistics Paper-II, Kindle Edition, Nirali Prakashan, Pune.

2. John E. (2011), Freund’s Mathematical Statistics with Applications, Irwin Miller

Marylees Miller, 8th Edition, Pearson Publications, USA.

E BOOKS

1. https://nptel.ac.in.

2. http://ebooks.lpude.in.statistics.

MOOC

1. https://www.mooc-list.com/course/probability-distribution-models-continuous-

random-variables-edx

2. https://education-online-courses.com/probability-theory-online-course/

COURSE

TITLE STAT LAB-STATISTICAL

SOFTWARE CREDITS 3

COURSE

CODE MAA0120

COURSE

CATEGORY PC L-T-P-S 2-0-2-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessme

nt

Seminar/

Assignments/

Project

Surpris

e Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students on the basis of statistical software

Course

Objective

1. To develop research design and classify the type and quantity of data

2. To present data with the help of diagrams

3. To estimate measures of central tendency.

4. To examine the relationship between two variables using correlation and

strength of the relationship between variables using regression

5.To perceive the knowledge of testing of hypothesis

Course

Outcome

Upon completion of this course, the students will be able to

1. Classify the types of scales and establish data base using statistical

software.

2. Construct Bar diagrams, Histogram and charts for the given data

3. Calculate mean, median, mode and standard deviation of the data

4. Determine Karl Pearson’s correlation coefficient and rank correlation

5. Test hypothesis using t, chi-square and ANOVA tests

Prerequisites: Basics of Software

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-

4 PO-5 PO-6 PO-7

PSO-

1

PSO-

2

PSO-

3

CO-1 - 1 - 3 - - - - 1 1

CO-2 - 1 - 3 - - - - 1 1

CO-3 - 1 1 3 1 - 2 - 1 1

CO-4 1 - - 3 1 - 2 - 1 1

CO-5 1 - - 3 1 - 2 - 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:RESEARCH (6L+6P)

Research Design and Planning statistics and Research – Collection of

Data – Preparing Questionnaire – Types of Scales – Measurement Scales

– Introduction to Statistical Software – Creating Data Base using

Statistical Software – Defining Variables.

CO-1

BTL-3

MODULE 2:DIAGRAMMATIC AND GRAPHICAL REPRESENTATION (6L+6P)

Simple Bar Diagram – Multiple Bar Diagram - Sub divided bar diagram

– Line Diagram – Histogram – Frequency Curve – Pie chart – Stem and

Leaf - Dot Plot - Box Plot.

CO-2

BTL-3

MODULE 3:MESEASURES OF CENTRAL TENDENCY (6L+6P)

Arithmetic Mean- Median – Mode – Geometric Mean – Harmonic

Mean- Measures of Dispersion: Range – Average deviation – Standard

Deviation – Skewness – Kurtosis

CO-3

BTL-3

MODULE 4:CORRELATION ANALYSIS (6L+6P)

Scatter Diagram - Karl Pearson’s Correlation Coefficient – Spearman’s

Rank Correlation Coefficient – Regression analysis -

CO-4

BTL-3

MODULE 5:TESTING OF HYPOTHESIS (6L+6P)

t- test - Paired t- test - Chi- square test - – ANOVA test. CO-5

BTL-3

TEXT BOOKS

1. D. Nolan, T. Speed (2011), Stat Labs: Mathematical Statistics through Applications,

(Springer Texts in Statistics) Kindle Edition, ISBN-13: 978-0387989747.

REFERENCE BOOKS

1. A. Field (2015), Study Material – Discovering Statistics Using SPSS, 2nd Edition,

Sage Publications, ISBN: 10 7619 4451 6, USA.

SEMESTER III

COURSE

TITLE MATHEMATICS OF

FINANCE-I CREDITS 4

COURSE

CODE MAA0201

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of mathematics of finance.

Course

Objective

1. To identify the financial terms of bonds and shares.

2. To describe how to use a generalized cash-flow model to describe financial

transactions.

3. To describe how to take into account the time value of money using the

concepts of compound interest, force of interest and real rate of interest.

4. To calculate the present value and accumulated value of cash flow using

interest rates

5. To contribute and to facilitate interdisciplinary research and problem

solving, through independent and collaborative work.

Course

Outcome

Upon completion of this course, the students will be able to

1. Classify types of government bonds and shares

2. Apply various types of cash flow models

3. Calculate simple and compound interest

4. Determine real and money interest rates.

5. Estimate discounting and accumulating of cash flow

Prerequisites: Basic concepts of finance management

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 2 2 - - - - - - 1 1

CO-2 - 2 - - - - - - 1 1

CO-3 - - - - - - - - 1 1

CO-4 2 - 2 - - - - - 1 1

CO-5 2 - 2 - - - - - 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INVESTMENTS (9L+3T)

Characteristics of Fixed interest Govt. bonds – Index linked Govt. bonds-

Govt. bills – Ordinary Shares – Property – Certificate of deposit.

Self Study: Ordinary Shares

CO-1

BTL-3

MODULE 2:CASH FLOW MODEL (9L+3T)

Cash Flow Process – Examples of Cash flow Scenarios – Zero Coupon Bond,

Fixed Interest Securities, Index Linked Securities, and Cash on Deposit,

Equity, Annuity, An Interest Only Loan, and Repayment Loan.

Self Study: Equity, Annuity

CO-2

BTL-3

MODULE 3:INTEREST RATES (9L+3T)

Simple Interest- Compound Interest-Simple Discount- Compound discount

rate - nominal rate of interest - nominal rate of discount - force of interest

rate and relationships between effective, nominal and force of interest

rates.

Self Study: Force of interest rates.

CO-3

BTL-3

MODULE 4:REAL AND MONEY INTEREST (9L+3T)

Introduction - Definition of real and money interest rates - Deflationary

conditions - Usefulness of real and money interest rates.

Self Study: Usefulness of real interest rates.

CO-4

BTL-3

MODULE 5:DISCOUNTING AND ACCUMULATING (9L+3T)

Present value of cash flows – accumulate Value of cash flows - Interest

income.

Self Study: Cash flows

CO-5

BTL-3

TEXT BOOKS

1. Dr P. Mariappan (2015), Business Mathematics, Pearson Indian Education Service

Pvt. Ltd, India.

2. Marek Capiński, Tomasz Zastawniak (2013), Mathematics for Finance, 2nd edition,

Springer London publisher, UK.

REFERENCE BOOKS

1. Bowers, Newton L (2017), Actuarial Mathematics– 2nd Edition – The Society of

Actuaries, USA.

2. Sheldon M. Ross (2013), An Elementary Introduction to Mathematical Finance,

Cambridge University Press Publication, UK.

E BOOKS

1. http://www.ru.ac.bd/wp-content/uploads/sites/25/2019/03/208_02_00_Ross_An-

Elementary-Introduction-to-Mathematical-Finance.pdf

2. http://catdir.loc.gov/catdir/samples/cam033/2002073603.pdf

MOOC

1. https://www.coursera.org/courses?query=mathematical%20finance

2. https://www.openlearning.com/courses/introduction-to-financial-mathematics/?cl=1

COURSE

TITLE BUSINESS ECONOMICS CREDITS 4

COURSE

CODE MAA0202

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignmen

ts/ Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description

To make the student understand the basic concepts of Business

Economics

Course

Objective

1. To introduce students basics of economics and its types

2. To render capable students to identify various market structures relevant

for commercial transactions and their impact on business decisions.

3. To perceive the knowledge on liability analysis

4. To identify with the terms cost, revenue and market structure.

5. To figure out macro economics with its importance

Course

Outcome

Upon completion of this course, the students will be able to

1. Distinguish between micro and macro economics

2. Apply economic concepts in business with its role and responsibilities

3. Analyze liability of demand and supply in a business

4. Calculate various types of cost and price discrimination.

5. Differentiate merits and demerits of macroeconomics

Prerequisites: Basics of Economics

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 2 2 - - - - - 1 1 1

CO-2 - 2 - - - - - - - 1

CO-3 - - 2 - - - - - - 1

CO-4 2 - 2 - - - - 1 1 1

CO-5 2 2 2 - - - - 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:DEFINITION AND SCOPE OF ECONOMICS (9L+3T)

Definitions of Economics – Differences between Micro and Macro

Economics – Basic Economic Problems – Economic Systems.

Self study: Differences between Micro and Macro Economics

CO-1

BTL-3

MODULE 2:DEFINITION OF BUSINESS ECONOMICS (9L+3T)

Application of Economic Concepts in Business – Incremental Concept –

Time Perspective – Discounting Principle – Opportunity Cost – Equi-

marginal Principle – Objectives of Business Firms – Role and

Responsibilities of Business Economists.

Self study: Time Perspective

CO-2

BTL-3

MODULE 3:LIABILITY ANALYSIS OF DEMAND AND SUPPLY (9L+3T)

Characteristics of Human Wants – Utility Analysis – Law of Diminishing

Marginal Utility – Law of Demand – Factors Influencing Demand – Demand

Forecasting – Law of Supply – Factors Influencing Supply – Elasticity of

Demand – Types – Factors Influencing Elasticity of Demand – Importance –

Indifference Curve Analysis – Consumer Surplus.

Self study: Demand Forecasting

CO-3

BTL-3

MODULE 4:COST, REVENUE AND MARKET STRUCTURE (9L+3T)

Definition of Cost – Fixed and Variable Costs – Total Cost – Average Cost

and Marginal Cost – Revenue – Average Revenue – Marginal Revenue –

Total Revenue – Short-Run and Long-Run Cost Curves – Different Marker

Forms – Price and Output Determination Under Perfect Competition,

Monopoly monopolistic Competition and Duopoly – Price Discrimination –

Pricing Strategies.

Self study: Short-Run and Long-Run cost curves.

CO-4

BTL-3

MODULE 5:MACRO ECONOMICS (9L+3T)

Objectives – Definition of National Income – Determination – Difficulties in

Estimation – Economic Growth and Development – Business Cycles –

Unemployment – Inflation – Fiscal and Monetary Policies – Foreign Trade –

Features – Globalization – Merits and Demerits – Balance of Trade and

Balance of Payments – Disequilibrium – Correcting Measures – IMF and

IBRD – Objectives and Functions – Money and its Functions.

Self Study: Globalization – Merits and Demerits

CO-5

BTL-3

TEXT BOOKS

1. S.Sankaran (2012), Business Economics, Margham Publications, India.

2. H. L. Ahuja (2019), Business Economics, S Chand Publishing, New Delhi.

REFERENCE BOOKS

1. Deepashree (2018) Micro Economic Theory and Applications. Sultan Chand &Sons,

New Delhi.

2. H.S. Agarwal (2017), Micro Economic Theory. Seventh Edition, Ane Books Publisher,

India.

E BOOKS

1. https://onlinelibrary.wiley.com/doi/book/10.1002/9781118106907

2. https://link.springer.com/book/10.1007/978-1-4614-3582-2

MOOC

1. https://nptel.ac.in/noc/courses/noc16/SEM2/noc16-hs11/

2. https://nptel.ac.in/courses/111/103/111103126/

COURSE

TITLE PRINCIPLES OF

INSURANCE CREDITS 4

COURSE

CODE MAA0203

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of principles of insurance.

Course

Objective

1. To explain various types of risk factors and management of risk

2. To know the concept of insurance and its process

3. To ascertain the importance of insurance business and its marketing

4. To gain the knowledge on general insurance products

5. To prioritize life insurance products

Course

Outcome

Upon completion of this course, the students will be able to

1. Differentiate different types of risks

2. Classify different classes of insurance and their importance

3. Distinguish the operations of insurance companies and intermediaries

regulators

4. Differentiate various kinds of products covering financial losses.

5. Classify different types of policies offered by life insurers.

Prerequisites: Basic of insurance policy

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1 PSO-2 PSO-3

CO-1 - 2 2 - - - - 1 1 1

CO-2 - 2 - - - - - 1 1 1

CO-3 - - - - - - - 1 - 1

CO-4 2 - 2 - - - - 1 - 1

CO-5 2 2 2 - - - - 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:PRINCIPLES OF INSURANCE (9L+3T)

Meaning of risk – Types of risks – Risk analysis – Risk Management

techniques – Management of risk by individuals – Management of risk by

Insurers.

Self Study: Risk Management techniques

CO-1

BTL-3

MODULE 2:CONCEPT OF INSURANCE & ITS EVOLUTION (9L+3T)

The basics and nature of insurance – Evolution of insurance - principles

which form the foundation of insurance - how insurance operates today –

different classes of insurance – importance of insurance - how insurance takes

care of unexpected eventualities - role of insurance in economic development

and social security -contribution of insurance to the society.

Self Study: Importance of insurance

CO-2

BTL-3

MODULE 3:INSURANCE BUSINESS & ITS MARKET (9L+3T)

Fixing of premiums – reinsurance and its importance for insurers - 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.

Self Study: The role of regulators

CO-3

BTL-3

MODULE 4:GENERAL INSURANCE PRODUCTS (9L+3T)

Risks faced by the owner of assets – exposure to perils – features of products

covering fire and allied perils - products covering marine and transit risks -

products covering financial losses due to accidents - products covering

financial losses due hospitalization - products covering miscellaneous risks.

Self Study: Products covering marine and transit risks

CO-4

BTL-3

MODULE 5:LIFE INSURANCE PRODUCTS (9L+3T)

The risk of dying early – the risk of living too long -different products offered

by life insurers - term plans - pure endowment plans - combinations of plans-

traditional products - linked policies - features of annuities and group policies

Self Study: Linked policies

CO-5

BTL-3

TEXT BOOKS

1. George E. Rejda (2011), Principles of Risk Management and Insurance, Pearson

Publications, India.

2. Dorfman S. Mark (2015), Introduction To Risk Management And Insurance Prentice

hall, India

REFERENCE BOOKS

1. C. Arthur C Williams, Peter C Young, Michael L. Smith (2012), Risk Management

& Insurance. Mc-Graw Hill, USA.

2. Emmett J. Vaughan, Therese M. Vaughan (2014), Essentials of Risk Management

and Insurance, Wiley & Sons, USA.

E BOOKS

1. https://bookboon.com/en/principles-of-insurance-ebook

2. https://www.insuranceinstituteofindia.com/downloads/Forms/III/Important%20Notic

e.pdf

MOOC

1. https://www.coursera.org/lecture/financial-markets-global/insurance-fundamentals-

X6HV1

2. https://www.classcentral.com/course/swayam-fundamental-of-insurance-19873

COURSE

TITLE SAMPLING THEORY AND ITS

APPLICATIONS CREDITS 4

COURSE

CODE MAA0204

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description

To make the student understand the basic concepts of Sampling and its

applications.

Course

Objective

1. To explain the concepts of random sampling, statistical inference and

sampling distribution, and state and use basic sampling distributions.

2. To identify the main methods of testing of hypothesis

3. To describe and apply chi square distribution

4. To utilize t distribution in testing of hypothesis.

5. To explain the concepts F statistics and compare t, F and chi square

distributions

Course

Outcome

Upon completion of this course, the students will be able to

1. Classify the different types of sampling methods of estimation

2. Determine the difference of proportion by testing of hypothesis

3. Apply the Chi-square distribution test for goodness of fit

4. Calculate difference of means using Students “t” distribution

5. Apply F distribution and relate them with Chi-square test .

Prerequisites: Basics of Sampling Theory

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 2 - - - - - - - -

CO-2 1 - - - - - - - 1 1

CO-3 - - 2 - - - - - 1 1

CO-4 - 2 2 - - - - - - -

CO-5 - 2 2 - - - - - - -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:SAMPLING (9L+3T)

Introduction – Types of Sampling – Sampling Distribution – Test of

Significance – Null Hypothesis, Alternative Hypothesis – Errors in Sampling

– Critical region and Level of Significance- main methods of estimation and

the main properties of estimators.

CO-1

BTL-3

MODULE 2: TESTING OF HYPOTHESIS (9L+3T)

Test of Significance of Large Samples – Sampling of Attributes – Test for

Single proportion – Test for Difference of Proportion – Unbiased estimates

for population mean and population variance – Standard error of sample

mean – Test of significance for single mean - Test of significance for

difference of means – test of significance of standard deviation.

CO-2

BTL-3

MODULE 3:CHI SQUARE DISTRIBUTION (9L+3T)

Introduction – MGF of Chi square distribution – Cumulative Generating

Function of chi square distribution – Limiting form of chi square distribution

– Mode and skewness of chi square distribution – Application of chi square

distribution – Chi Square for population variance – Chi square test for

Goodness of fit – Independence of Attributes.

CO-3

BTL-3

MODULE 4:STUDENTS “t” DISTRIBUTION (9L+3T)

Deviation of Student’s “t” Distribution – Application of t-test – t-test for

single mean – t-test for difference of means.

CO-4

BTL-3

MODULE 5:F- DISTRIBUTION (9L+3T)

Derivation of F Distribution – Constants of F Distribution – Application of F

Distribution – F Test for equality of population variance – Relationship

between t and F distribution – Relation between F and χ2 . Fisher’s Z

distribution – MGF of Z distribution - Fisher’s Z transformation - Analysis of

Variance.

CO-5

BTL-3

TEXT BOOKS

1. S.P. Gupta and V. K. Kapoor (2020), Fundamentals of Mathematical Statistics. Sultan

Chand & Sons, New Delhi.

2. Snedecor G. W., Cochran W. G (2014), Statistical Methods, Oxford and IBH Publications, New

Delhi.

REFERENCE BOOKS

1. John E. Freund, Irwin Miller Marylees Miller (2018),Mathematical Statistics with

Applications, 8th edition, Pearson Publications, USA.

2. Brian M.Sadler, Kasso A. Okoudjou, Michael Robinson, Stephen D. Casey (2021),

Sampling: Theory and Applications, Springer Publisher, USA.

E BOOKS

1. https://link.springer.com/book/10.1007/978-3-030-36291-1

2. https://www.kobo.com/us/en/ebook/sampling-theory-and-applications

MOOC

1. https://www.coursera.org/learn/sampling-methods

2. http://home.iitk.ac.in/~shalab/course432.htm

COURSE

TITLE ESTIMATION THEORY CREDITS 4

COURSE

CODE MAA0205

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student understand and explore Estimation Theory.

Course

Objective

1. To classify normal, uniform and gamma distributions

2. To figure out beta, exponential, Weibull, logistic distributions as the overview

of financial markets

3. To perceive the knowledge on Cauchy distribution and ventral limit theorem

4. To classify the methods of moments in point estimation

5. To learn about confidence intervals

Course

Outcome

Upon completion of this course, the students will be able to

1. Derive moment generating function, mean and variance of normal, uniform

and Gamma distributions

2. Derive moment generating function, mean and variance of beta, exponential,

Weibull and logistic distributions.

3. Derive moment generating function, mean and variance of Cauchy

distribution

4. Determine moments for one parameter and two parameters

5. Compute confidence intervals for normal distribution

Prerequisites: Basics of Estimation theory

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2 PSO-3

CO-1 2 - 1 1 - - - 1 1 -

CO-2 2 - 1 1 - - - 1 1 -

CO-3 - 2 - 1 - - - 1 1 -

CO-4 - 2 - - - - - 1 1 -

CO-5 2 2 1 - - - - 1 1 -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:CONTINUOUS DISTRIBUTIONS-I (9L)

Normal distribution – Uniform distribution – Gamma Distribution. CO-1

BTL-3

MODULE 2: CONTINUOUSDISTRIBUTIONS-II (9L)

Beta distribution – Exponential distribution – Weibull Distribution– Logistic

distribution.

CO-2

BTL-3

MODULE 3: CONTINUOUS DISTRIBUTIONS-III (9L)

Cauchy distribution – Central limit theorem CO-3

BTL-3

MODULE 4:POINT ESTIMATION (9L)

Introduction – Methods of moments – one parameter case – two parameter case –

MLE – one parameter.

CO-4

BTL-3

MODULE 5:CONFIDENCE INTERVALS (9L)

Introduction - Confidence Intervals in General - Confidence Intervals for

Normal Distribution – Variance.

CO-5

BTL-3

TEXT BOOKS

1. S.C. Gupta and V.K. Kapoor (2012), Fundamentals of Mathematics and Statistics, Sultan

Chand & Sons Publishers, 11th Edition, New Delhi.

2. E.L. Lehmann (2011), Theory of Point Estimation (Springer Texts in Statistics), Springer

Publisher, New York.

REFERENCE BOOKS

1.

C. Walk (2017), Statistical Distributions for experimentalists, Universitit Stolkholms,

Swedan.

2. John E, Irwin, Miller Marylees Miller (2012) Freund’s Mathematical Statistics with

Applications, 8th Edition, Pearson Publications, India.

E BOOKS

1. https://www.amazon.in/CONTINUOUS-PROBABILITY-DISTRIBUTIONS-

HYPOTHESES-Statistics-ebook/dp/B089GXBLDJ

2. https://www.fulviofrisone.com/attachments/article/446/Introduction%20to%20the%20th

eory%20of%20statistics%20by%20MOOD.pdf

MOOC

1. https://www.edx.org/course/observation-theory-estimating-the-unknown

2. https://www.coursera.org/lecture/statistical-inference-for-estimation-in-data-

science/estimators-and-sampling-distributions-2Zfz7

SEMESTER IV

COURSE

TITLE FINANCIAL MARKETS IN INDIA CREDITS 4

COURSE

CODE MAA0216

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Descriptio

n

To make the student understand the basic concepts of Financial Markets in

India

Course

Objective

1. To acquire the basic understanding of the structure, organization and

functioning of the financial system in India

2. To expose the students to new financial instruments.

3. To relate the implication of financial instruments in the existing regulatory

framework

4. To perceive the features of organized and unorganized money markets.

5. To define the role of RBI in money markets.

Course

Outcome

Upon completion of this course, the students will be able to

1. Analyze the different components of a financial system and their role.

2. Apply recent developments in the Indian Financial System

3. Acquire knowledge about the trading mechanism in the stock market.

4. Examine the various speculators and describe the speculative activities.

5. Utilize the functions of indigenous financial agencies and meaning and

features of accepting houses.

Prerequisites: Basics of Financial Marketing

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 2 2 - - 1 - 1 1 1 1

CO-2 2 2 - - 1 - 1 1 1 1

CO-3 2 2 2 - 1 - 1 1 1 1

CO-4 - - 2 - 1 - 1 1 1 1

CO-5 - - 2 - 1 - 1 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1: FINANCIAL SYSTEM (9L+3T)

Meaning-Role and functions of a financial system-Organized and Unorganized

financial system – Components - Financial Assets-Financial Inter- Medians.

Self Study: Components

CO-1

BTL-3

MODULE 2: CENTRAL BANKING (9L+3T)

Meaning – Instruments-New IssueMarket - Features - Objectives - Functions -

Constituents or players and problems.

Self Study: Features of central banking

CO-2

BTL-3

MODULE 3: STOCK EXCHANGE (9L+3T)

Meaning-Functions of Stock Exchange-Benefits to the Community – Investors –

Companies-Listing of Securities and its benefits-Companies of BSE, NSE,

OTCEI.

Self Study: Benefits to the Community – Investors

CO-3

BTL-3

MODULE 4:MONEY MARKETS (9L+3T)

Meaning-Features of Organized and Unorganized Money Markets- GRS

instruments of money market.

Self Study: Features of Unorganized Money Markets

CO-4

BTL-3

MODULE 5:MONEY MARKET INSTITUTIONS (9L+3T)

Meaning-Role of the Central Bank (RBI) in money markets- Commercial

Banks – Meaning – Functions-Indigenous Financial Agencies – Bankers-

Money Lenders- Discount Houses-Accepting Houses (only Meaning &

Features).

Self Study: Indigenous Financial Agencies

CO-5

BTL-3

TEXT BOOKS

1. L.Natarajan (2017), Financial Markets and Services. Margham Publications, India.

2. B.Santhanam (2016), Financial Services, Margham Publications, India.

REFERENCE BOOKS

1. Rakesh Shahani (2018), Financial Markets in India. Anamika Publishers & Distributers,

India

2. Subhash Chandra Das (2015), The Financial System in India. PHI Learning, India.

E BOOKS

1. https://www.ebooks.com/en-us/book/669113/capital-markets-in-india/rajesh-chakrabarti/

2. https://www.elsevier.com/books/indian-financial-markets/shah/978-0-12-374251-3

MOOC

1. https://www.coursera.org/learn/financial-markets-intro

2. https://onlinecourses.nptel.ac.in/noc20_mg10/preview

COURSE

TITLE MATHEMATICS OF FINANCE – II CREDITS 4

COURSE

CODE MAA0217

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval Details LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of Finance.

Course

Objective

1. To explain the term annuity.

2. To interpret the knowledge on deferred and increasing annuities.

3. To find the loan by regular installments of interest and capital.

4. To define about loan schedules.

5. To compare and calculate the loan interest.

Course

Outcome

Upon completion of this course, the students will be able to

1. Calculate present and accumulate value of payment mode.

2. Evaluate the present value and accumulated value of annuity

3. Find an equation of value

4. Calculate the capital outstanding and loan

5. Examine the interest and deal with capital elements of the loan schedule

Prerequisites: Basics of Finance

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO

-1

PS

O-2 PSO-3

CO-1 - 2 2 - 1 - 1 1 1 1

CO-2 - 2 - - 1 - 1 1 - 1

CO-3 2 - - - 1 - 1 1 - 1

CO-4 2 - 2 - 1 - 1 1 - 1

CO-5 2 2 2 - 1 - 1 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:LEVEL ANNUITIES (9L+3T)

Present Values and accumulation values of Payments Made in Arrear, Payment Made in Advance – Perpetuities.

Self Study: Mode of payments

CO-1

BTL-3

MODULE 2:DEFERRED AND INCREASING ANNUITIES (9L+3T)

Introduction - Deferred annuities - Annual payments (arrear and Advance) -

Increasing annuities- Annual payments (arrear and Advance) - Decreasing

payments.

Self Study: Decreasing payments

CO-2

BTL-3

MODULE 3:EQUATIONS OF VALUE (9L+3T)

The equation of value and the yield on a transaction - The theory - Solving for

an unknown quantity - Solving for the amount of a payment (I or R)- Solving

for the timing of a payment(n) - Solving for the interest rate i.

Self Study: Solving for the interest rate i.

CO-3

BTL-3

MODULE 4:LOAN SCHEDULES (9L+3T)

Introduction-An example- Calculating the capital outstanding –Introduction -

The theory - Prospective loan calculation -Retrospective loan calculation.

Self Study: The theory of loan calculation

CO-4

BTL-3

MODULE 5:CALCULATING THE INTEREST AND CAPITAL ELEMENTS OF THE

LOAN SCHEDULE (9L+3T)

Single payment – Series of payments – Forming the loan schedule - Consumer

credit: flat rates and Annual Percentage Rate.

Self Study: Annual Percentage Rate.

CO-5

BTL-3

TEXT BOOKS

1. R. J. Williams (2016), Introduction to the Mathematics of Finance (Graduate Studies

in Mathematics) Hardcover – Import.

2. Arash Fahim (2019), Introduction to Financial Mathematics Concepts and

Computational Methods, Florida State University, US.

REFERENCE BOOKS

1. ● Arlie. O. Petters, X. Dong (2016), An Introduction to Mathematical Finance with

Applications, Springer Publications, US.

2. ● S. J. Garrett (2013), An Introduction to the Mathematics of Finance, Atlantic

publishers, 2nd edition, India

E BOOKS

1. https://onlinelibrary.wiley.com/doi/book/10.1002/9781118106907

2. https://link.springer.com/book/10.1007/978-1-4614-3582-2

MOOC

1. https://nptel.ac.in/noc/courses/noc16/SEM2/noc16-hs11/

2. https://nptel.ac.in/courses/111/103/111103126/

COURSE

TITLE INSURANCE UNDERWRITING CREDITS 4

COURSE

CODE MAA0218

COURSE

CATEGORY PC L-T-P-S 3-1-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student understand the basic concepts of Insurance

Course

Objective

1. To demonstrate the concept of underwriting and types of underwriters.

2. To define the risk assessment principles and concepts.

3. To show the methodology and procedure of general insurance writing.

4. To relate the advantage and disadvantages of numerical rating method.

5. To show the need for reinsurance.

Course

Outcome

Upon completion of this course, the students will be able to

1. Develop a basic understanding of the insurance mechanism.

2. Classify different types of risks

3. Design the new procedures of general insurance underwriting

4. Compose the relationship between insurers and their customers and the

importance of insurance contracts are discussed.

5. Test for the methodology and procedures of general insurance underwriting.

5.

Prerequisites: Basics of Insurance Underwriting

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 2 2 - - 1 - 1 - - 1

CO-2 2 - 2 - - - - - - 1

CO-3 - - 2 - - - - - - 1

CO-4 - 2 2 - - - - - - 1

CO-5 2 2 - - 1 - 1 - - 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INTRODUCTION TO UNDERWRITING (9L+3T)

What is insurance – Profile of an Underwriter – What is Underwriting –

Purpose & Objectives of Underwriting – Why Underwriting is important –

The Underwriting Process – Functions of Underwriting – Types of

Underwriters – Underwriting Decisions – Policies on Preferred / Standard /

Sub-standard Basis – Monitoring Underwriting Decisions.

CO-1

BTL-3

MODULE 2:LIFE UNDERWRITING - PRINCIPLES & CONCEPTS (9L+3T)

Concepts of Life 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.

CO-2

BTL-3

MODULE 3:METHODOLOGY & PROCEDURES OF GENERAL INSURANCE

UNDERWRITING (9L+3T)

Underwriting of New Business – Scrutiny of Proposals – Limits of Acceptance

– Acceptance subject to Controlling office Approval – Acceptance of Extra

Hazardous Risks – Underwriting Safeguards – New Business Procedure -

Underwriting of Renewal Business.

CO-3

BTL-3

MODULE 4:HEALTH INSURANCE UNDERWRITING (9L+3T)

Health Insurance underwriting - What & why of health insurance underwriting

–Factors impacting morbidity - Basic principles of underwriting (Uberrima

fides- Insurable interest - Indemnity - Contribution clause - Proximate cause)--

Documents used for underwriting - Numerical Rating method of underwriting

- Advantages & Disadvantages of the Numerical Rating Method - Types of

underwriting decisions taken - General Exclusions & Standard Exclusions -

Group Health Insurance.

CO-4

BTL-3

MODULE 5:REINSURANCE (9L+3T)

Need for reinsurance - Types of reinsurance - Facultative reinsurance -

Automatic reinsurance - Catastrophe reinsurance - Advantages of reinsurance

arrangements - Reinsurance treaty - Underwriting Audits by reinsurers.

CO-5

BTL-3

TEXT BOOKS

1. Mary C. Bickley, Barbara Foxenberger Brown, Jane Lightcap (2017), Life and health

insurance underwriting, Atlanta Publisher, 2nd Edition, Loma.

2. Kaninika Mishra (2019), Life Insurance Underwriting, Deep & Deep Publications, New

Delhi.

3. Tony Boobier (2016), Analytics for Insurance: The real Business of Big data, Wiley

Publications, India.

REFERENCE BOOKS

1. E. Dharmaraj (2018), Elements of Insurance, SIMERS Publication, India.

2. Joseph Mangan & Harrison Connor (2010), Advanced underwriting techniques, American

Institute For CPCU.

E BOOKS

1. https://www.chisel.ai/commercial_insurance_underwriting_priorities_2020_ebook

2. https://www.insuranceinstituteofindia.com/web/guest/e-book

MOOC

1. https://www.coursera.org/lecture/financial-markets-global/insurance-fundamentals-

X6HV1

2. https://www.insuranceinstituteofindia.com/web/guest/certificate-course

COURSE

TITLE INTRODUCTION TO STOCHASTIC

PROCESS AND MARKOV MODEL CREDITS 4

COURSE

CODE MAA0219

COURSE

CATEGORY CORE L-T-P-S 3-1-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description

To make the student understand the basic concepts of Stochastic Process and

Markov model

Course

Objective

1. To define the basic understanding of Stochastic process

2. To show the basic understanding of Poisson process

3. To illustrate to the students the concepts of mortality

4. To find the random walks

5. To compare the time-homogeneous Markov chains

Course

Outcome

Upon completion of this course, the students will be able to

1. Classify the stochastic process

2. Apply Poisson process in real time applications

3. Apply laws of mortality in actuarial mathematics

4. Determine the transition matrix.

5. Derive Chapman - Kolmogorov equations and classify the states

Prerequisites: Basics of Stochastic Process

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 2 - 1 - 1 - 1 - -

CO-2 1 - - 1 - 1 - 1 - -

CO-3 1 - 2 1 - 1 - 1 - -

CO-4 - 2 2 1 - 1 2 1 - 2

CO-5 - 2 2 1 - 1 2 1 - 2

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:STOCHASTIC PROCESSES (9L+3T)

Introduction – Types – Counting processes – Sample paths – White noise -

Stationary – Strict stationary – Weak stationary – Increments – Independent

increments.

(Concept & Simple problems only)

CO-1

BTL-3

MODULE 2:POISSON PROCESS (9L+3T)

Sums of Poisson process – Thinning of Poisson process – Inter –Event

times in a Poisson process. (Concept & Simple problems only)

CO-2

BTL-3

MODULE 3:MORTALITY (9L+3T)

Definitions of lx, px, qx, npx, nqx, m/ nqx, - Concept of force of mortality μx -

Derivation of npx in terms of μx– Laws of mortality.

CO-3

BTL-3

MODULE 4:MARKOV CHAINS (9L+3T)

Markov process – Markov property – The transition Matrix - Random

walks.(Concept & Simple problems only)

CO-4

BTL-3

MODULE 5:PERIODICITY (9L+3T)

Chapman - Kolmogorov equations – Time-homogeneous Markov chains -

Irreducible chains –Periodicity. (Concept & Simple problems only)

CO-5

BTL-3

TEXT BOOKS

1. Tapas Kumar Chandra, Sreela Gangopadhyay (2018). Introduction to Stochastic

Processes, Narosa Publishing House, India.

2. A.K.Basu (2020). Introduction to Stochastic Process, Narosa Publication, India.

REFERENCE BOOKS

1. Peter W. Jones, Peter Smith (2020), Stochastic Processes An Introduction Third Edition,

CRC Press, Taylor & Francis Ltd, US.

2. Daniel W Stroock (2020), An Introduction to Markov Process, Springer Publication.

E BOOKS

1. https://nptel.ac.in/courses/111/102/111102014/

2. https://www.sciencedirect.com/book/9780124077959/markov-processes-for-stochastic-

modeling

MOOC

1. https://www.coursera.org/learn/stochasticprocesses

2. https://nptel.ac.in/courses/111/102/111102014/

COURSE

TITLE PROGRAMMING USING R CREDITS 3

COURSE

CODE CAB0224

COURSE

CATEGORY PC L-T-P-S 0-0-6-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students to the basics of Programming using R

Course

Objective

1. To classify the fundamentals of statistical analysis in R environment.

2. To find data for the purpose of exploration using Descriptive and Inferential

Statistics.

3. To illustrate Probability and Sampling Distributions

4. To interpret the creative application of Linear Regression in multivariate context

for predictive purpose.

5. To find linear regression.

Course

Outcome

Upon completion of this course, the students will be able to

1. Examine and understand how to use the R documentation.

2. Code and use R programming language in R Studio IDE to perform

basic tasks on vectors, matrices and data frames.

3. Analyse the different data types in R and navigating the software.

4. Develop and implement probability distributions to solve a wide

variety of problems.

5. Analyze, interpret correlation and regression to analyze the underlying

relationships between different variables.

Prerequisites: Basics of R Programming

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-1 PSO-

2 PSO-3

CO-1 1 - - 3 - - - 1 - -

CO-2 - - - 3 - - - 1 - -

CO-3 - - - 3 - - - 1 - -

CO-4 - 1 - 3 - - - 1 - -

CO-5 1 1 - 3 - - - 1 - -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1: INTRODUCTION (9P)

Downloading and installing R – Starting R – Entering commands – Exiting from R -

Getting help on a function - Getting help on a package – Searching web for a help –

Finding relevant functions and packages - Some Basics– Printing something –

Setting variables – Listing variables - Deleting Variables - Creating a Vector -

Computing Basic Statistics - Creating Sequences - Comparing Vectors - Selecting

Vector Elements - Performing Vector Arithmetic

CO-1

BTL-4

MODULE 2:NAVIGATING THE SOFTWARE (9P)

Getting and Setting the Working Directory - Saving Your Workspace - Viewing

Your Command History - Input and Output - Reading Fixed-Width Records -

Reading Tabular Data Files - Reading from CSV Files - Writing to CSV Files

CO-2

BTL-3

MODULE 3:DATA STRUCTURES (9P)

Appending Data to a Vector - Inserting Data into a Vector - Data Transformations -

Splitting a Vector into Groups - Applying a Function to (Each List Element, Every

Row, Every Column, Groups of Data, Groups of Rows, Parallel Vectors or Lists)

CO-3

BTL-3

MODULE 4:GRAPHICS (9P)

Creating a Scatter Plot - Adding a Title and Labels - Adding a Grid - Creating a

Scatter Plot of Multiple Groups - Creating a Bar Chart - Coloring a Bar Chart -

Plotting a Line from x and y Points - Changing the Type ,Width, or Color of a Line -

Plotting Multiple Datasets - Adding Vertical or Horizontal Lines - Creating a

Histogram

CO-4

BTL-3

MODULE5:LINEAR REGRESSION (9P)

Performing Simple Linear Regression - Understanding the Regression Summary –

Correlation – Performing correlation analysis - Probability - Counting the Number of

Combinations - Generating Combinations - Generating Random Numbers -

Generating Reproducible Random Numbers - Generating a Random Sample -

Generating Random Sequences - Randomly Permuting a Vector - Calculating

Probabilities for Discrete Distributions - Calculating Probabilities for Continuous

Distributions

CO-5

BTL-3

TEXT BOOKS

1. Brett Lantz (2019), Machine Learning with R: Expert techniques for predictive modeling,

Packt Publishing Limited, 3rd Edition, UK.

2. Garrett Grolemund, Hadley Wickham (2016), R for Data Science, O'Reilly Media

Publisher, US.

3. Tilman M.Davies (2016), The Book of R: A First course in Programming and Statistics,

No Starch Press, San Francisco.

4. Paul Teeto, (2011), R Cookbook, O’Reily Publication, US.

REFERENCE BOOKS

1. Jared P. Lander (2014), R for Everyone: Advanced Analytics and Graphics, Pearson

Education, India

2. John Verzani (2018), Simple R – Using R for Introductory Statistics, 2nd edition, Chapman

and Hall/CRC, US.

E BOOKS

1. http://www.math.csi.cuny.edu/Statistics/R/simpleR/Simple

2. https://bookauthority.org/books/best-selling-r-programming-language-ebooks

MOOC

1. https://www.coursera.org/learn/r-programming

2. https://www.edx.org/learn/r-programming

SEMESTER V

COURSE

TITLE NUMERICAL ANALYSIS CREDITS 4

COURSE

CODE MAA0301

COURSE

CATEGORY PC L-T-P-S 3-0-2-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student understand the basic concepts of numerical analysis

Course

Objective

1. To find different numerical techniques

2. To relate algebraic and differential equations

3. To recall skills in solving problem using numerical techniques

4. To explain the forward difference problems

5. To find predictor corrector problems.

Course

Outcome

Upon completion of this course, the students will be able to

1. Compute the solutions of algebraic and transcendental equations numerically

2. Determine the solutions of system of equations using direct and indirect

methods

3. Apply the linear interpolation methods for equal and unequal intervals.

4. Evaluate differentiation and integration numerically

5. Compute the solutions of ordinary differential equations numerically

numerical solution of ordinary differential equations.

Prerequisites: Basics of Mathematics

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 2 1 - 3 1 - - - 1 1

CO-2 - 1 - 3 - - - - - 1

CO-3 - - 2 3 - - - 1 - -

CO-4 - - 2 3 - - 1 1 - -

CO-5 2 - 2 3 1 - 1 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INTRODUCTION TO NUMERICAL ANALYSIS (6L+6P)

Introduction to numerical analysis – The solution of algebraic and

transcendental equations – Bisection method – Iteration method – Regula-

Falsi method- Newton- Raphson method.

Lab: Bisection method - Newton- Raphson method.

CO-1

BTL-3

MODULE 2:LINEAR SYSTEM OF EQUATIONS (6L+6P)

Linear System of Equations– Gauss Elimination method –Gauss-Jordan

method– Iterative methods – Jacobi method Gauss-Seidal method.

Lab:Gauss Elimination method –Gauss-Jordan method

CO-2

BTL-3

MODULE 3:FINITE DIFFERENCES (6L+6P)

Finite differences –Interpolation - Introduction – Gregory-Newton forward and

backward interpolation formulae – Interpolation with unequal intervals –

Lagrange’s interpolation formula.

Lab:Newton’s Forward and Backward Interpolation formula

CO-3

BTL-3

MODULE 4:NUMERICAL DIFFERENTIATION AND INTEGRATION (6L+6P)

Numerical differentiation and integration – Newton’s formulae to compute the

derivative – Numerical integration – A general quadrature formula –

Trapezoidal rule -Simpson’s one third rule – Simpson’s three-eighth rule.

Lab:Trapezoidal rule -Simpson’s one third rule – Simpson’s three-eighth rule.

CO-4

BTL-3

MODULE 5:NUMERICAL SOLUTION OF ORDINARY DIFFERENTIAL EQUATION

(6L+6P)

Numerical solution of ordinary differential equation – Taylor series method –

Euler’s method – Runge-Kutta methods – Adam’s Moulton Method – Milne’s

Predictor corrector method.

Lab:Euler’s method – Runge-Kutta methods

CO-5

BTL-3

TEXT BOOKS

1. P. Kandasamy, K.Thilagavathy, K. Gunavathy (2003), Numerical Methods, S. Chand &

company limited, 2nd Revised Edition New Delhi.

2. S.S Sastry (2012), Introductory Methods of Numerical Analysis, PHI Learning Private

Limited, New Delhi.

REFERENCE BOOKS

1. Kalyan Mukherjee (2011), Numerical Analysis, New Central Book Agency(P) Limited,

India.

2. S.Baskar, S.Ganesh (2020), Introduction to Numerical Analysis, Independently

Published.

E BOOKS

1. http://www.ikiu.ac.ir/public-files/profiles/items/090ad_1410599906.pdf

2. https://www.e-booksdirectory.com/listing.php?category=407

MOOC

1. https://www.coursera.org/courses?query=numerical%20analysis

2. https://www.classcentral.com/course/intro-to-numerical-analysis-13684

COURSE

TITLE BASIC ACCOUNTING CONCEPTS CREDITS 4

COURSE

CODE MAA0302

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student prepare for basic accounting concepts

Course

Objective

1. To familiarize about the accounting.

2. To define accounting records

3. To classify the accounting mechanics

4. To explain the concept of cash book.

5. To find the bank reconciliation statement.

Course

Outcome

Upon completion of this course, the students will be able to

1. Compare the advantages and limitations of financial, management and cost

accounting

2. Analyze the ledger posting and trial balance.

3. Analyze the profit and loss account and balance sheet.

4. Employ the use purchase return book.

5. Calculate depreciation and amortization using straight line method

Prerequisites: Basics of Accounting

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 - 2 2 1 - - - 1 - -

CO-2 - 2 - 1 - - - 1 - -

CO-3 - 2 - - - - - - 1 -

CO-4 2 2 2 - - - - - 1 -

CO-5 2 2 2 1 - - - 1 1 -

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:ACCOUNTING (9L+3T)

Concepts - Types of accounts - Comparisons: Financial, Management and Cost

accounting – Advantages and limitations of financial Management and cost

accounting.

Self Study: Advantages and limitations of financial Management

CO-1

BTL-3

MODULE 2:ACCOUNTING RECORDS AND SYSTEMS (9L+3T)

Accounting equation - Accounting mechanics I: Journals-Ledger posting and

trial balance.

Self Study: Basics of Accounting mechanics

CO-2

BTL-3

MODULE 3:ACCOUNTING MECHANICS II (9L+3T)

Preparation of financial statements – Trading account – Profit and loss account

and Balance sheet.

Self Study: Financial statements

CO-3

BTL-3

MODULE 4:CASH BOOK AND SUBSIDIARY BOOKS (9L+3T)

Single column cash book -Double column cash book -Three column cash book –

Petty cash book –Purchase book – Sales book - Purchase Return book-Sales

Return book.

Self Study: Three column cash book

CO-4

BTL-3

MODULE 5:BANK RECONCILIATION STATEMENT (9L+3T)

Bank reconciliation statement – Rectification of errors - Depreciation

accounting- Straight-line method- Written down value method.

Self Study: Straight-line method

CO-5

BTL-3

TEXT BOOKS

1. Dalston L. Cecil and Jenitra L. Merwin (2017), Principles of Accountancy, Learn tech

Press, India.

2. Jawaharlal and Seema Srivastava (2011), Financial accounting, Macmillan India Ltd,

India.

REFERENCE BOOKS

1. Gregory Mostyn (2017), Basic Accounting Concepts, Principles, and Procedures,

Worthy & James Publication.

2. Rajni Sofat, Preeti Hiro (2015), Basic Accounting, PHI Learning, New Delhi.

E BOOKS

1. http://www.ebooks-for-all.com/bookmarks/detail/Accounting-Principles/onecat/Electronic-

books+Economics-and-Business+Accounting/0/all_items.html

2. http://www.free-management-ebooks.com/dldebk/dlfi-principles.htm

MOOC

1. https://www.coursera.org/learn/financial-accounting

2. https://www.my-mooc.com/en/mooc/financial-accounting-foundations/

COURSE

TITLE

LIFE AND HEALTH

CONTINGENCIES CREDITS 4

COURSE

CODE MAA0303

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To expose the students about Life and Health Contingencies.

Course

Objective

1. To demonstrate the life table functions and select mortality.

2. To explain the life assurance contract and benefits.

3. To classify the whole life assurance and endowment assurance

4. To demonstrate the temporary annuity with due and arrear.

5. To define the assurance benefits and annuity benefits.

Course

Outcome

Upon completion of this course, the students will be able to

1. Develop and construct the ultimate life tables.

2. Evaluate the sum assured depending on contingent

3. Analyze the deferred assurance benefit with other relationship

4. Utilize the net and gross premiums and provisions for various

insurance contracts.

5. Evaluating assurance benefits and annuity benefits.

Prerequisites: Basics of Health Contingencies

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 - 2 1 - - - 1 - 1 1

CO-2 - 2 - - - - - - - 1

CO-3 - - - - 2 - - - - 1

CO-4 - - - - 2 - - - 1 1

CO-5 - 2 1 - 2 - 1 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:LIFE TABLE (9L+3T)

Introduction – Constructing a life table – The force of Mortality – Using the

life table– Life table functions at non–integers ages – UDD – CFM – Select

Mortality – Constructing Select & Ultimate life tables.

Self Study: The force of Mortality

CO-1

BTL-3

MODULE 2:LIFE ASSURANCE CONTRACT PAYABLE NOT ON DEATH (9L+3T)

The sum Assured is payable not on death - Introduction – Whole life

assurance –Term Assurance- Pure endowment Assurance- Endowment

Assurance – Deferred Assurance benefits (Concept & simple problems only)

Self Study: Endowment Assurance

CO-2

BTL-3

MODULE 3:LIFE ASSURANCE CONTRACT PAYABLE IMMEDIATELY ON DEATH

(9L+3T)

The sum Assured is payable immediately on death - Introduction– Whole life

assurance – Term Assurance- Endowment Assurance – Deferred Assurance

Benefits – Other relationships (Concept & simple problems only)

Self Study: Term Assurance

CO-3

BTL-3

MODULE 4:LIFE ANNUITY CONTRACT (9L+3T)

Introduction – Whole life annuity (due and arrear)-Temporary annuity (Due

and Arrear) - Deferred annuities (Due & arrear) - Continuous annuities

(Concept & simple problems only)

Self Study: Temporary annuity

CO-4

BTL-3

MODULE 5:EVALUATING LIFE ASSURANCE & ANNUITY CONTRACTS (9L+3T)

Evaluating Assurance benefits – Evaluating Annuity Benefits – Premium

Conversion Formulae.

Self Study: Annuity Benefits

CO-5

BTL-3

TEXT BOOKS

1. David C. M. Dickson, Mary R. Hardy and Howard R.Waters (2019), Actuarial Mathematics for Life

Contingent Risks , Cambridge University Press, India

2. Gerber, Hans U (2011), Life insurance mathematics, Springer.

REFERENCE BOOKS

1. Bowers, Newton L (2017), Actuarial mathematics. Society of Actuaries, Second

Edition.

2. Neill, Alistair (2010), Heinemann Life contingencies, Butterworth-Heinemann Ltd, UK.

E BOOKS

1. https://www.ebooks.com/en-us/subjects/business-insurance-ebooks/311/

2. https://medium.com/@merederees/epub-kindle-read-actuarial-mathematics-for-life-

contingent-risks-by-david-c-m-236cbf24f6f3

MOOC

1. https://studyabroad.sit.edu/health-safety-and-well-being/contingency-planning-guide-

for-online-learning/

COURSE

TITLE ACTUARIAL PROFESSION CREDITS 4

COURSE

CODE MAA0304

COURSE

CATEGORY PC L-T-P-S 3-1-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessmen

t

Seminar/

Assignments/

Project

Surprise

Test / Quiz Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student understand the basic concepts of actuarial profession

Course

Objective

1. To explain about the actuarial profession.

2. To define the need for self -regulation

3. To show the role of actuaries.

4. To find the reinsurance requirements

5. To interpret the investment actuary.

Course

Outcome

Upon completion of this course, the students will be able to

1. Develop skills required for the actuary.

2. Analyze the criteria for insurance of guidance notes.

3. Differentiate the investigation between investment policy and new business

risks.

4. Examine the estimation of liabilities.

5. Develop the role of actuary in health insurance.

Prerequisites: Basics of Actuarial science

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 2 - 1 - - 1 - 1 1

CO-2 - 2 - 1 - - - - 1 1

CO-3 - - - - 2 - - - 1 1

CO-4 - - - - 2 - - 1 1 1

CO-5 1 2 1 1 2 - 1 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:ACTUARIAL PROFESSION OVERVIEW (9L+3T)

Introduction to profession and professionalism-Evolution of Actuarial

Profession - Characteristics of the ideal profession-characteristics of Actuarial

profession-Skills required for the Actuary.

CO-1

BTL-3

MODULE 2:SELF-REGULATORY MEASURES IN ACTUARIAL PROFESSION

(9L+3T)

Need for self-regulation-Definition –Introduction-Classification of guidance

notes – Procedures-Criteria for insurance of guidance notes.

CO-2

BTL-3

MODULE 3:ROLE OF ACTUARIES (9L+3T)

Role of Actuary in Life Insurance Business-Valuation of Liabilities-Profit

distribution-Product Design and Product pricing-Assessment of solvency-

Investigation of Investment policy-Investigation of New Business Risks.

CO-3

BTL-3

MODULE 4:ROLE OF ACTUARY IN GENERAL INSURANCE (9L+3T)

Premium Rating-Estimation of Liabilities-Collection and Presentation of

information-Reinsurance requirements.

CO-4

BTL-3

MODULE 5:ROLE OF ACTUARY IN HEALTH INSURANCE & OTHER AREA

(9L+3T)

Health Insurance-Demography-Economics-Climate-State provision of Health

and care services-Valuation of Insurance Companies-Investment Actuary-

Advisors of Brokers-Financial Consultant-Corporate Finance – Academics-

Capital Projects.

CO-5

BTL-3

TEXT BOOKS

1. Fred E. Szabo (2012), Actuaries, Elsevier, US.

2. Stephen Garret (2015), Introduction to Actuarial and Financial Mathematical Methods,

Academic Press, US.

REFERENCE BOOKS

1. S.David Promislow (2010), Fundamentals of Actuarial Mathematics, John Wiley & Sons

Inc., New Jersey.

2. Mathieu Boudreault, Jean-Francois Renaud (2019), Actuarial Finance, Wiley Publishers,

US.

E BOOKS

1. https://pdf.wecabrio.com/actuarial-science-and-notes.pdf

2. https://guides.lib.uiowa.edu/c.php?g=132186&p=862562

MOOC

1. https://www.mooc-list.com/course/introduction-actuarial-science-edx

2. https://www.edx.org/learn/actuarial-science

3. https://www.actuaries.digital/2015/08/10/new-mooc-introduces-actuarial-science/

COURSE

TITLE TIME SERIES ANALYSIS CREDITS 4

COURSE

CODE MAA0305

COURSE

CATEGORY PC L-T-P-S 3-1-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description To make the student understand the basic concepts of time series

Course

Objective

1. To define the reader about index numbers

2. To find the limitation of index numbers

3. To list the uses of time series.

4. To relate the measurement of time series

5. To explain the parabolic curve fitting.

Course

Outcome

Upon completion of this course, the students will be able to

1. Apply different methods on index numbers.

2. Apply different types of tests on index numbers.

3. Analyze the methods of trend for time series.

4. Evaluate the measurement of seasonal and cyclical variation.

5. Derive the numerical methods for interpolation and extrapolation.

Prerequisites: Basics of Time series

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 1 - - - - - 1 1 -

CO-2 - 1 - - - - - 1 - -

CO-3 - 1 - - - - - 1 - -

CO-4 1 - 1 - 1 - 3 1 - 1

CO-5 1 - 1 - 1 - 3 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INDEX NUMBERS (9L+3T)

Introduction – Meaning – Definition – Characteristics – Uses – Types of

Index Number – Interpretation of Index Numbers – Problems of Construction –

Choice of Formula –Methods of Construction – Laspeyre’s Method – Paasche’s

Method – Dorbish and Bowley’s Method -Fisher’s Ideal Method – Marshall-

Edge worth method – Kelly’s Method – Walsch’s Method.

CO-1

BTL-3

MODULE 2:QUANTITY INDEX NUMBERS (9L+3T)

Quantity Index Numbers - Value Index Numbers – Time Reversal Test –

Factor Reversal Test– Circular Test – Chain Base – Fixed Base – Base

Shifting – Deflating of Index Numbers – Consumer Price Index – Family

Budget – Limitations of Index Numbers.

CO-2

BTL-3

MODULE 3:TIME SERIES (9L+3T)

Time Series – Meaning – Definition – Uses of Time Series – Models – Secular

Trend – Seasonal Variation – Cyclical Variation – Irregular Variation –

Preparation Data for Analysis – Measurement of Secular Trend – Graphic

Method – Semi average Method – Moving Average method – Method of Least

Squares - Parabola Curve - Selecting a type of trend – Choice – Conversion –

Shifting to origin.

CO-3

BTL-3

MODULE 4:MEASUREMENT OF VARIATIONS (9L+3T)

Measurement of Seasonal Variation – Method of simple average method –

Ratio to trend method – Ratio to Moving average method – Link relative

method – Measurement of Cyclical Variation– Measurement of Irregular

Variations.

CO-4

BTL-3

MODULE 5:THEORY AND MODELS (9L+3T)

Autoregressive series – Moving average series – Integrated series – Auto

regressive moving average series – Integrated Auto regressive moving

average series

CO-5

BTL-3

TEXT BOOKS

1. R.S.N. Pillai and Bagavathi (2013), Statistics Theory And Practice, S.Chand Publishers,

New Delhi.

2. Raquel Prado, Mike West (2010), Time Series, CRC Press, Florida.

REFERENCE BOOKS

1. Peter J.Brockwell, Richard A.Davis (2017), Time series: Theory and Methods, Springer,

US.

2. Chun-Kit Ngan (2019), Time Series, Intech open Limited, UK.

E BOOKS

1. https://in.sagepub.com/en-in/sas/book/introduction-time-series-analysis

2. http://civil.colorado.edu/~balajir/CVEN6833/lectures/wwts-book.pdf

3. http://www.ru.ac.bd/stat/wp-content/uploads/sites/25/2019/03/504_05_Box_Time-Series-

Analysis-Forecasting-and-Control-2015.pdf

MOOC

1. https://www.coursera.org/courses?query=time%20series%20analysis

2. https://www.udemy.com/course/time-series-analysis-and-forecasting-in-r/

SEMESTER VI

COURSE

TITLE GROUP INSURANCE &

RETIREMENT BENEFITS CREDITS 4

COURSE

CODE MAA0316

COURSE

CATEGORY PC L-T-P-S 3-1-0-1

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description

To make the student understand the basic concepts of group insurance and

retirement benefits

Course

Objective

1. To explain the introduction of historical background

2. To illustrate group insurance schemes

3. To relate the superannuation schemes.

4. To define about methods of costing.

5. To relate about legal aspects and taxation.

Course

Outcome

Upon completion of this course, the students will be able to

1. Develop the gratuity schemes.

2. Analyze the group insurance schemes

3. Differentiate various ways of arranging schemes.

4. Demonstrate an understanding methods of costing

5. Develop the documentation of trust deeds and rules

Prerequisites: Basics of Insurance

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 - 1 - - - 1 - 1 -

CO-2 - - - - - - 1 - 1 -

CO-3 - - - - - - - - - 1

CO-4 1 2 - - - - - 1 - 1

CO-5 1 2 1 - 2 - - 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1: HISTORICAL BACKGROUND TO EMPLOYEE BENEFITS IN INDIA

(9L+3T)

Provident funds – Superannuation-Gratuity schemes.

Self Study: Employee Benefits

CO-1

BTL-3

MODULE 2:GROUP INSURANCE SCHEMES (9L+3T)

Segments of group schemes market – Origin and development of group

schemes characteristics of groups – group underwriting, rate making and

experience rating adjustment.

Self Study: Schemes characteristics of groups

CO-2

BTL-3

MODULE 3:GRATUITY AND SUPERANNUATION SCHEMES (9L+3T)

Different ways of arranging schemes – Unfunded schemes and funded schemes

– Trustee administered and insured schemes.

Self Study: Funded schemes

CO-3

BTL-3

MODULE 4:METHODS OF COSTING (9L+3T)

Past service benefits and future service benefits – annual premium and single

premium – method of costing, definite funding and indefinite funding and

controlled funding.

Self Study: Indefinite funding

CO-4

BTL-3

MODULE 5:LEGAL ASPECTS AND TAXATION (9L+3T)

Treatment of retirement provisions under provident, gratuity and

superannuation funds – Documentation of Trust deeds and Rules. Data

processing and Group Schemes.

Self Study: Group Schemes

CO-5

BTL-3

TEXT BOOKS

1. Dale H.Yamamoto (2012). Fundamentals of Retiree Group Benefits, Actex Publications,

US.

2. Bashker D. Biswas (2010). Employee Benefits Design and Planning, FT Press, New

Jersey.

REFERENCE BOOKS

1. Paul Zane Pilzer, Rick Lindquist (2015). The End of Employer-Provided Health

Insurance, Wiley publication, New Jersey.

2. William F.Bluhm (2012). Group Insurance, Actex Publications, US.

E BOOKS

1. https://www.india.gov.in/spotlight/employees-state-insurance-scheme#tab=tab-1

2. https://www.policyholder.gov.in/e-books.aspx

MOOC

1. https://www.mooc-list.com/tags/retirement-planning

2. https://www.universalclass.com/i/course/understanding-types-of-insurance.htm

COURSE

TITLE REINSURANCE MANAGEMENT CREDITS 4

COURSE

CODE MAA0317

COURSE

CATEGORY CORE L-T-P-S 3-1-0-0

Version 1.0 Approval

Details

LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

First

Periodical

Assessment

Second

Periodical

Assessment

Seminar/

Assignments/

Project

Surprise

Test /

Quiz

Attendance ESE

15% 15% 10% 5% 5% 50%

Course

Description

To make the student understand the basic concepts of reinsurance

management

Course

Objective

1. To explain the reader with all aspects surrounding Reinsurance

2. To demonstrate supporting conduct of insurance business

3. To extend the relevance with newly emerging concepts, trends and practices at

the market place.

4. To show exhaustively deals with emerging ideas in respect of reinsurance

methodology, retentions, markets, financial security, alternatives to

reinsurance

5. To relate the information processing for reinsurance decisions.

Course

Outcome

Upon completion of this course, the students will be able to

1. Demonstrate an understanding on reinsurance.

2. Apply methods of proportional reinsurance.

3. Apply methods of non-proportional reinsurance.

4. Utilize the special factors for different classes of reinsurance.

5. Demonstrate an understanding on IRDA.

Prerequisites: Basics of Insurance

CO, PO AND PSO MAPPING

CO PO-1 PO-2 PO-3 PO-4 PO-5 PO-6 PO-7 PSO-

1

PSO-

2

PSO-

3

CO-1 1 2 1 - - - 1 1 - -

CO-2 1 2 - - - - 1 - - 1

CO-3 1 2 - - - - - - - 1

CO-4 1 2 - - - - - - - 1

CO-5 1 2 1 - - - 1 1 1 1

1: Weakly related, 2: Moderately related and 3: Strongly related

MODULE 1:INTRODUCTION TO REINSURANCE (9L+3T)

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, Forms of Reinsurance: Facultative reinsurance – Treaty reinsurance –

Facultative Obligatory Treaty – Considerations for facultative placements.

CO-1

BTL-3

MODULE 2:METHODS OF REINSURANCE - PROPORTIONAL REINSURANCE

(9L+3T)

Surplus – Quota Share –Proportional Treaty – Bordereaux – Premiums – Ceding

Commission – Claims – Quota Share Treaty –Quota Share & surplus combined

– Specimen Treaty Slip.

CO-2

BTL-3

MODULE 3:METHODS OF REINSURANCE – NON-PROPORTIONAL REINSURANCE

(9L+3T)

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.

CO-3

BTL-3

MODULE 4:RETENTIONS (9L+3T)

Setting Retentions – General Considerations – Factors influencing retentions–

Types of retentions – Accumulations within and between branches – Retentions

for Property insurance – Engineering insurance – Accident & Liability insurance

– Marine Cargo & Hull insurance –Aviation insurance – Life insurance – Special

factors for different classes of Reinsurance

CO-4

BTL-3

MODULE 5:IRDA REINSURANCE REGULATIONS (9L+3T)

IRDA Reinsurance Regulations: Applicability - Reinsurance Programme -

Retention Policy -Reinsurance Arrangements - Maintenance of Records - Cross

Border Reinsurer (CBR) - Procedures for Reinsurance Placements - Alternative

Risk Transfer (ART).

CO-5

BTL-3

TEXT BOOKS

1. Leonard Sammut (2019), Reinsurance in Risk and Capital Management, GRIN Verlag.

2. Eugene N.Guenko (2014), Catastrophe Risk and Reinsurance, World Bank Publications,

US.

REFERENCE BOOKS

1. Niels Viggo Haueter and Geoffrey Jones (2017), Managing risk in Reinsurance, Oxford

University Press, UK.

2. Leslie Lucas, Peter Green, John McLean (2019), Reinsurance Management, LLP

Publisher.

E BOOKS

1. https://www.kobo.com/in/en/ebook/general-insurance-reinsurance-and-risk-management-

glossary

2. https://www.ebooknetworking.net/ebooks/p97-reinsurance.html

MOOC

1. https://smartonlinecourse.org/reinsurance/

2. https://www.zhaw.ch/en/sml/continuing-education/detail/course/cas-reinsurance-

management/

COURSE

TITLE PROJECT CREDITS 10

COURSE

CODE MAB0318 COURSE CATEGORY PC L-T-P-S 0-0-20-0

Version 1.0 Approval Details LEARNING

LEVEL BTL-3

ASSESSMENT SCHEME

CIA 80% ESE 20%

Course

Outcome

Upon completion of the project, the students will be able to

1. Identify the problem and work for the real life needs of the society 2. Derive practical solutions to the societal problem 3. Apply the importance of Engineering concepts and its relevant application

CO, PO AND PSO MAPPING

CO

P

O-

1

PO-2 PO-3 PO-4 PO-5 PO

-6 PO-7 PSO-1 PSO-2 PSO-3

CO-1 - 2 2 3 2 3 3 3 3 3

CO-2 2 2 2 - 2 3 3 3 3 3

CO-3 - 2 - 3 2 3 3 3 3 3

1: Weakly related, 2: Moderately related and 3: Strongly related

PROJECT

In this project, each individual is expected to design and develop practical solutions to real life

problems related to Industry and Information Technology research. Software usage should be

followed during the development. The theoretical knowledge gained from the subject in the

current and previous semesters should be applied to develop effective solutions to various

applications. At the end of the project the individual should submit a complete report of the project

work carried out.

Assessment is made as follows

Assessment Model: LE

Review / Exam Weightage Rubrics

First Review 10% Presentation (5%) +

Viva-Voce (5%)

Second Review 20% Presentation (10%) +

Viva-Voce (10%)

Third Review& Demo 35% Presentation (10%) + Viva-

Voce (10%) + Demo (15%)

Report 15% Report to be submitted in

soft binding

Final Viva-Voce 20% Presentation (10%) +

Viva-Voce (10%)

TOTAL 100%