Better education for a better world

What is Commerce?

Commerce is defined as the exchange of goods and services among individuals and business entities. In academics, Commerce is considered to be one of the most popular streams of education along with Science and Arts. Commerce deals with the various aspects of business, trade, accounting, financial information/transactions and merchandising. Commerce plays a significant role in the development of nations and its citizens by facilitating trade between nations or within the nation.

Major Commerce Subjects

When you opt for Commerce in 11th standard, most schools provide students with 4 compulsory subjects while providing them with the choice of selecting one additional subject. Also, various other schools offer 6 subjects to Commerce students. To assist you further in your research on Commerce subjects, below we have elaborated the four central academic disciplines offered under this stream.

Economics

Amongst the four compulsory Commerce subjects, Economics is a vast field of study that studies a country’s economic development and the factors influencing it like trade markets, exports, and imports, GDP, etc. In layman’s terms, Economics is concerned with ensuring optimum utilization of resources in an economy and weighs in several other constituents like scarcity, competitive markets, demand, supply, equilibrium, amongst others. Further, it has branched out into two key categories: Microeconomics and Macroeconomics that implement different economic concepts at a smaller as well as larger level in an economy.

Business Studies

This subject is structured to provide students with an in-depth knowledge of the different types of businesses, the objectives, scope, and nature of these businesses. It also deals with different concepts of business as well as the aspects of the corporate world. Further, it imparts students with the knowledge of how businesses impact the economy and society as a whole

Accountancy

Considered with the practice of recording, categorizing, and reporting the varied business transactions of a firm or organization, Accountancy is an indispensable aspect of the vast study of Commerce. This subject deals with the different accounting principles and rules of accounting, along with credits and debits of financial accounting, etc. It is a highly quantitative and theoretical academic discipline and is a perfect career path for those who are dexterous at performing complex mathematical calculations.

Statistics

As a sub-discipline that has sprouted from the extensive spectrum of Economics, this subject is involved with statistical analysis, collection, and presentation of data in numerical form. Statistics comprises a wide range of concepts such as mode, mean, variance, median, standard deviation, etc. which are taught through the use of graphs, formulas, and numerical problems. Along with these compulsory Commerce subjects, English or the language of the medium of the school is also included. Some of the optional subjects offered in the Commerce stream also include:

2. Economics

Economics studies the processes or systems by which goods and services are produced, sold and bought at a larger level (Macroeconomics) and at the smaller individual level (Microeconomics). The subject deals with the behaviour and interactions of economic agents and how various economies work. From Business and Managerial Economics to Financial and Agricultural Economics, there are scores of domains you can specialize in. Further, after pursuing courses like BSc Economics, BA Economics, etc, you can work in sectors like Banking, Insurance, Real Estate, Service and Manufacturing Firms, Consulting, Non-profit Organisations, and Government Agencies and build a successful career in Economics!