Commerce Stream

As people advance, the thought process behind choosing some specific course of study changes. Students are now diversifying from the preferred science courses and selecting the commerce stream instead. This can easily be attributed to the many successes people see entrepreneurial ventures achieve, such as multinational companies like Microsoft, Apple Inc, Uber, etc., carving a niche for themselves in the world's market.

Their success has proved that individuals can be successful and that businesses with great models can propel one to create a meaningful impact in people's lives. Now, professionals with business intellect and good managerial skills are in high demand. And this skill set is best enhanced in the commerce stream. This, in turn, helps create increased demand for a career in the commerce stream, making it lucrative.

This article will provide important information about the commerce stream and the opportunities that are open to you.

Commerce Stream Meaning

A commerce stream is a group of educational courses that deals with the study of trade, business, and accounts. Business activities such as goods exchange and providing services to consumers make up the foundation of commerce stream courses. The primary subjects that make up the commerce stream are Accounting, Economics, and Business studies. So, if you have a genuine passion for business and love numbers, you will surely do well in this field.

Here is a detailed explanation of the significant course under the commerce stream to help you decide which is best suited to your passion.

Economics

Economics is one of the most important and sought-after courses in the commerce stream. The primary objective of an economic degree is to have an overall understanding of business production, distribution, and how goods and services are consumed. As a branch of social science, economics provides the best way resources can be put to good use and how the economy deals with the production, distribution, and consumption of goods and services.

On the other hand, microeconomics studies individual consumer behaviours on a micro-level. At the same time, macroeconomics deals with how the overall economy reacts and deals with GDP, inflation, and equal distribution of resources. It also encompasses the study of international economics.

Why you should study economics

  1. You learn and study the intricate details of society's production, distribution, and consumption of goods and services.
  2. You get to understand the economics of individual agents such as a household and the economy.
  3. You get to understand how the world economy works, the impact of some decisions on the populace, and the effect of government policies on the economy in general.
  4. The principles of economics have recently found importance in areas that don't have to do with monetary considerations. There are areas such as politics, psychology, law, and history, among many other social interactions.

Business Studies

Business studies is an exciting and engaging course for commerce stream students. It deals with business firms' overall operation and organisation, such as how a business enterprise will be affected in different situations. So, suppose you have a passion for wanting to know the intricate concepts of how a business works, the formation, and operations. In that case, business studies are for you.

The business studies coursework aims to provide you with a foundational understanding of the business industry's various principles and standard practices and their relationship with society.

Why you Should Study Business Studies

  1. You get a first-hand understanding of a business organisation's features, functioning, structure, operations, and human resources, among many other aspects.
  2. You get to observe and analyse the behaviour and tactics of various businesses.
  3. Studying business studies is more than just understanding the art of business. It also helps students understand the collaborative culture and prepares students for their professional roles in life.
  4. Business is part of our daily lives. Its influences employment, the standard of living, and opportunities for personal firms. Studying business allows students to grasp how business activities affect the economy and society fully.

Accounting

All the three major courses under the commerce stream are highly sought-after, and accountancy is no different. In accountancy, students study and deal with recording, classification, and reporting business transactions. Understanding accounting enables professionals and business owners to manage their income and expenditures. Part of the job of an accountant is to provide helpful feedback regarding all the financial transactions of an organisation. Issuing invoices, paying employees, and recording the flow of money to keep track of a business's financial status are the primary tasks involved in accounting.

Why you Should Study Accountancy

  1. To help breech the information gap between a business and its users, such as the managers and shareholders.
  2. Accountancy students learn the different reasons for the success and failure of various business organisations.
  3. Students learn how to apply the principle of accounting to businesses. In areas such as accounting, auditing, and bookkeeping.
  4. Students also learn how to classify, record, and summarise information regarding money, transaction, and financial events and learn to interpret the results of such transactions and events.

Commerce stream course should not be considered an easy route to science as it is as complex as science courses. So, if you decide to pursue a commerce stream course because you think it will be easier than science courses, you should think again. Instead, you should go for it because you have the passion and want to learn how successful businesses work and their effect on the economy.

Commerce Stream After 10th 

After class 10, many students opt for the commerce stream. So, if you wish to create a career in fields like marketing, finance, and business administration, then Commerce is for you. It is also a great start to something huge if you don't like any science course and are confused about what to do.

Commerce comprises core and elective courses to help you understand more about business operations. You can choose a commerce course with maths or without it after class 10. Examples of commerce courses with maths are Psychology, Home Science, and Information practice, among many others. At the same time, examples of commerce courses without mathematics are Management Studies and Business administration. So, whether you like maths or not, there is a commerce course for you after class 10.

Streams After 12th Commerce

The career paths you can take in the commerce field after class 12 are many, and they include:-

  • Commerce includes domains like Auditing, finance, and taxation. This course offers you many opportunities in the industry.
  • Economics
  • Banking and Insurance
  • Accounting and Finance
  • Business Administration
  • Financial Market

Professional Courses After the 12th Commerce Stream 

The many professional courses you can study after your 12th commerce stream are listed below.-

  • Chartered Accountancy
  • Bachelor of Business Administration
  • Cost and Management accountant
  • Journalism and Mass Communication
  • Bachelor's in Commerce (General)
  • BCom Marketing
  • BCom Tourism and Travel Management

Commerce Stream Subjects

Apart from the three major subjects mentioned above, i.e. Accountancy, Business studies, and economics, other subjects make up the commerce stream. And they are:-

  • English Language (mandatory)
  • Mathematics
  • Information practices
  • Psychology
  • Computer Science
  • Physical Education.

All the additional subjects aim to provide students with more options.

Entry Requirements for Commerce Course Abroad 

The entry requirement for commerce courses abroad depends on your chosen country and the university you wish to study. So, ensure you check all the universities you want to study at and understand their requirements and eligibility before applying. However, below are some general points you need to know.

  • You can pursue an undergraduate course if you have completed class 12 in a commerce stream course from a recognised school.
  • You are also eligible if you have studied mathematics and accounting.
  • You can still apply if you are in class 12 and awaiting results.

Top Universities for Commerce Courses Abroad 

Below are our top five picks of universities to study commerce courses abroad.

Universities

QS Ranking

Course Duration

Tuition Fees

Harvard University 

1

4 years

$51,000 per year

London School of Economics and Political Science

4

3 years

$26,000

University of Oxford

5

4 years

$40,000 per year

Massachusetts Institute of Technology

2

4 years

$48,140 per year

Stanford University

3

4 years

$55,000 

University of Melbourne

 

4 years

$41,000 - $55,000

University of Sydney

 

4 years

$48,000 – $53,000

Commerce Stream Jobs and Salary Abroad

Commerce stream jobs are lucrative and pays a lot. Below are some and their annual salary range.

  1. Investment Banker - $125,000+ annually
  2. Certified Public Accountant - $66,000+ annually
  3. Chartered Financial Analyst - $64,000+ annually
  4. Research Analyst - $58,000+ annually
  5. Cost Accountant - $53,000+ annually
  6. Chartered accountant - $37,000+ annually.

A Career in Commerce Stream 

There are many career options in the commerce field, like business management in finance, accounting, and economics, to name a few. Below is a list of top careers in commerce

  • Insurance
  • Banking
  • Cost and work accountant
  • Capital market
  • Cost and management accountant
  • Certified financial planner
  • Accounting and taxation
  • Company secretary

Gone are the days when jobs were limited to science courses or a few other art courses. You can now earn a high-paying job after completing a commerce education.

We hope that this comprehensive article will help you understand the commerce stream and why you shouldn't be afraid to pursue a career in the field.

Still unclear about anything? Well, not to worry. Contact AECC Global and get your queries answered today!

AECC Global is one of the world's leading educational consultancies with versatile expert professionals who are ready to help you with any queries you may have. Contact us so we can be of assistance to you in your journey of fulfilling your dream.


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