Importance of Commerce field in this new economic era

Commerce is often defined as the study of trade and business activities like the exchange of products and services from producer to final consumer. Commerce stream is also looked at as the ladder to the corporate and business world.

With globalization and rapid industrialization and advances in the fields of economy, study, trade, and many more such areas, Commerce stream has become one of the most popular career streams across the globe and in India. Due to the rapid growth of the economy and the rapidly changing dynamics, commerce education is increasingly becoming an attractive option for the students.

While the popularity of commerce stream is increasing every day, there are still certain myths that continue to exist around commerce as a stream as traditionally, the commerce stream was seen as a second choice or a stream with fewer opportunities.

We have tried to identify certain key points to help bust these myths that exist about commerce stream as a stream with lesser opportunities.

1) “In this new economic era, is it easy to achieve success in the financial and banking industry and the management world if one understands about commerce?”

The answer is a big Yes. If you have a deep understanding commerce and finance, it is always easy to master the practical concepts related to this field which we encounter in our work life in the financial and banking industry and the management world. Even the subjects taught in commerce stream have concepts related to finance, business, and economy.

2) “Why is it important to study Commerce in the new economic era?”

To get an answer to this question, let us go through the main subjects taught in the commerce stream.

●  Economics is a science that deals with the study of assembly, distribution, and consumption of products and services. Studying economics enables us to find out more about how the various economies across the globe work because it helps gain knowledge about the impact those decisions have on firms, industries, and nations. It also helps us understand the impact of globalization, international trade, the results government policies have on the economy and on employment.

●  Business Studies is a subject that deals with the operation and organization of all business enterprises. The topic covers each feature of concern, like how a firm will be affected in numerous business situations. The subject provides students with the knowledge and nuances of running various types of organizations and prepares them for their worklife in business. Business activities are something that affects the daily lives of all people in every society.

●  Accountancy is a branch of mathematical science that focuses on the financial information of the business. Studying accountancy enables a student to finds the causes of successes and failures of various business enterprises. Accounting, book-keeping, and auditing are integral parts of accounting.

The above-mentioned subjects are the basic subjects of commerce that will prepare you for all the know-how and technicalities of an economy, trade, and business world from the very start that will take you one step closer towards your dream career.

Some more general reasons to take up commerce are:-

●  This field gives you endless opportunities like CA, CS, CMA, MBA, B.Com, Accountant, Banking, jobs in MNCs, etc.

●  Global opportunities - Courses like ACCA, CPA, CFA, MBA, etc provide you opportunities across the globe.

●  Commerce and the Economic field allow you to become part of the companies at its core because without accounting, and finance nothing will happen and, you may be at the helm to manage it. 

●  Commerce speaks about the vast world around us within the name of cash. 

●  Commerce makes an individual realize the worth of every single object and how it got materialized and monetized in the world market. 

●  After studying commerce, one can be pro at the art of budgeting and will always a step ahead on their own financial management. 

●  Understanding about Commerce helps you in understanding the global market system in an easier way.

The world is incomplete without business, trade, market, economics. That altogether is commerce. If you wish to study the workings of the economies through a more practical dimension and have an affinity for numbers, economics, or business then, this can be the field for you!

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