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Full Description
Financial Engineering for Low-Income Households is an edited compilation of articles that focus on using financial engineering-a multidisciplinary field that uses technical methods from the fields of finance, mathematics and economics-to design financial services for low-income households. The book aims to provide an understanding of the various risk-reward trade-offs facing low-income households and how principles of financial engineering can be best applied to understand and manage the complete suite of financial and non-financial assets, including human capital, insurance, annuities and loans.
This compilation connects the fundamental concepts in finance and financial engineering with the relatively new field of financial services delivery to low-income households. Its applied nature will help the reader grasp the implications of theoretical principles in finance on practical product-design considerations. It has several illustrations, caselets, and exercises to facilitate learning and in order to develop a full understanding of the underlying concepts.
The book will be a valuable tool for students and practitioners interested in the design and delivery of financial services to low-income households.
Contents
Foreword - Dr Nachiket Mor
Preface
I: INTRODUCTION
Universalizing Complete Access to Finance: Key Conceptual Issues - Suyash Rai, Bindu Ananth and Nachiket Mor
II: BUILDING BLOCKS OF FINANCIAL ENGINEERING
Probability Distributions - Bindu Ananth and Amit Shah
Preference Theory - Bindu Ananth and Amit Shah
Asset Allocation, Portfolio Choice, and Capital Asset Pricing Model - Bindu Ananth and Amit Shah
Basics of Credit Risk - Vaibhav Anand
III: APPLICATIONS OF FINANCIAL ENGINEERING
Human Capital - Bindu Ananth and Amit Shah
Life and Personal Accident Insurance - Bindu Ananth and Amit Shah
Health Risk and Financing - Swati Grewal
Longevity Risk - Shilpa Sathe
Livestock Risk and Insurance - Anupama Pant
Rainfall Risk and Insurance - Alok Shukla
Lending to Low-Income Households and Enterprises - Shilpa Sathe, Ratul Lahkar and Arun Kumar D
Commodity Price Risk and Financing - Shweta Aggarwal
IV: CASE STUDY
Comprehensive Financial Plan for Jaya's Household Bindu Ananth, Amit Shah and Shilpa Sathe
Appendices
Index
