Introduction of Financial Market Management as a course under Vocational Education at Senior Secondary level

As you are aware, the Central CBSE Board of Secondary Education (CBSE) has been offering a number of courses under vocational education at Senior Secondary level. The Govt. of India in recent years has laid a lot of emphasis on streamlining vocational education so that it fulfils the emerging need of the market by focusing on employability skills. In consonance with this thrust the CBSE is planning to introduce a course in Financial Market Management (FMM) under vocational steam which is likely to be renamed as Professional Education & Training.

It has been felt for long that the school pass outs need to be more financially literate. As perhaps you are aware in other parts of the world, Financial Education is imparted from class VI onwards. Financial Education can make a difference not only in the quality of life that individuals can afford, but also the integrity and quality of markets. The CBSE, therefore, has taken the initiative to introduce Financial Market Education at +2 level in schools.

India is one of the emerging markets in the world with more than two crores of investors. Public at large has shown tremendous faith in mutual funds and share markets. A large number of Foreign Institutional Investors ‘FIIs’ are investing heavily in India. Thus, it is felt that there is huge employment potential in financial markets. As per industry estimates there is a shortage of more than 50,000 professionals in stock and commodity market alone. This shortage is projected to be more than one lac by 2008-09. There is an acute shortage of trained professionals in the financial market. Similarly, the Business Process Outsourcing (BPO) Industry has created a huge demand for employment and this trend is likely to continue. Computerized accounting and finance in organized and unorganized sectors is another area of employment for the youth.

Keeping in view the acute shortage of trained professionals and the emphasis of Govemment of India on development of employability skills, the CBSE is attempting a paradigm shift in school education from pure academics to orientation towards skill development and employability while maintaining the scope of vertical mobility for higher education. The CBSE, therefore, proposes to introduce Financial Market Management as one of the courses under vocational education for senior secondary classes. All affiliated schools of the CBSE Board are free to opt for this course from the academic session 2007-08.

The new course will consist of three vocational subjects each in classes XI & XII. Besides, these three vocational subjects students will have to take two academic elective subjects one of which must be a language. The students can also opt for additional sixth subject which can either be a language or an academic elective subject.

SALIENT FEATURES OF THE COURSE

1. The primary objective of the course is to develop practical employability skills in financial markets, BPOs and Financial Accounting.

2. The course will have the following three core subjects at classes XI & XII.

Class XI

(a) Accounting for Business-I

(b) Introduction to Financial Markets-I

(c) Computer Applications in Financial Markets

Class XII

(a) Accounting for Business-II

(b) lntroduction to Financial Markets-II

(c) Business Process Outsourcing Skills

3. The vertical mobility for students pursuing higher education is taken care.

4. The curriculum has been designed by eminent experts from relevant industries in the field.

5. The basic academic ingredients required to attain this quality are incorporated in the syllabus.

6. The textual material is being prepared by subject experts drawn from different fields and will be published by the CBSE before the start ofnext academic session.

7. The qualifications of the teaching staff are enclosed as Annexure.

8. The CBSE Board will undertake training of teachers both for theory and practical. 

9. The course will be introduced in Class XI of the academic year 2007–08.

10. Infastrucfure required:- “The school should have sufficient computers with internet facility to infoduce this new course.

The schools that are interested in introducing this new course under vocational stream from academic year 2007–08 may write to the undersigned giving their willingness for the same at email address i.e. cbseedusat12@rediffmail.com or by post. The letter of willingness should reach the undersigned by 28th February, 2007 to enable the CBSE Board to process the applications further. The syllabus of the course is available on our website www.cbse.nic.in

TEACHING FACULTY AND THEIR QUALIFICATION (FINANCIAL MARKET MANAGEMENT)

1. TEACHING FACULTY

(a) Full Time Teacher

(b) Part Time Teachers (Drawn from the industry/relevant field)

2.QUALIFICATION Full Time Teachers

(a) Essential M.Com./MBA/MA (Economics)/Master of Financial Control/Master of Financial Services or equivalent for Accounting for Business. OR

Bachelor degree from recognised University/Institutes with NSE’s Certification in Financial Markets (NCFM) having passed 3 molecules with minimum 60% in:

1. Financial Markets (Beginners’ Module)

2. Capital Market Dealers Module

3. Derivative Markets Dealers Module. OR

Bachelor degree in Computer Science/Application from recognised University/Institutes with Minimum two years experience of working in all the module of MS-Office (Word, Excel, Power Point, Outlook).

(b) Desirable

(i) Bachelor of Education or teaching degree from recognized University/Institution

(ii) Having experience of Accounting Software.

Part Time Teachers Practical trainers duly trained by organization dealing in financial markets. The trainers should have passed relevant module of NSE. OR Practical Trainers should be from stock exchanges or stock broking companies/financial institutions or BPO Industry with minimum of 2 years experience in the field.

The schools affiliated to the CBSE Board for the senior School classes can seek affiliation for this course immediately by payment of the necessary affiliation fee of Rs. 1000/- (Rupees One Thousand only) through Demand Draft payable to the Secretary, CBSE, Delhi and the same could be forwarded to the following address:

Deputy Secretary (Affiliation)

Central CBSE Board of Secondary Education,

Communication Centre, Preet Vihar,

Delhi-110092.

In case if you need any further information in this regard, you may kindly write to the undersigned or send your communication on fax 011-2215826 or e-mail to Directoracad@hotmail.com.