About Commerce
The term “commerce” originally referred specifically to trade, but it has come to encompass all of “business”. The study of commerce focuses on understanding the economic environment and on managing different types of business activity within that environment.
Commerce graduates work in business, government and not-for-profit organisations. The work they do covers a variety of specialised activities, including:
- dealing and trading on financial markets and providing financial services such as banking and investment
- providing professional services such accounting, auditing and management consultancy
- conducting economic analysis and forecasting
- evaluating financial risk using actuarial science and other types of financial analysis
- managing organisations and their functions such as human resources, supply chains and logistics and international operations
- marketing products and services - understanding what consumers want and providing for their needs.
The Bachelor of Commerce prepares graduates for careers in all these facets of business, and more. Students develop strong foundations in economic and quantitative analysis, along with an understanding of organisational behaviour. From this basis, the BCom offers majors leading to careers in accounting, actuarial practice, economics, finance, management or marketing. Accounting and actuarial studies students can choose a program of study that allows them to enter the major professional accreditation programs (read more on our Accreditation page).
Specific areas of focus available as majors in the Bachelor of Commerce are:
Actuarial Studies
Actuaries evaluate the financial risk facing organisations by using sophisticated statistical analysis and calculation of probability. Read the full description of Actuarial Studies.
Accounting
Accounting is about tracking financial information such as income, expenditure and assets within a business or organisation. From this knowledge accountants provide essential advice to management on the state of the business and the efficiency of its operations. They also report on business performance and verify the accuracy of financial reports issued by organisations for legal disclosure. Read the full description of Accounting.
Economics
Economics provides skills in problem-solving for business and government. It teaches ways to understand what happens in markets and about the performance of national economies, and approaches for analysing and interpreting data. Players in the economy (governments, businesses, households, individuals) can use economic analysis and and methods to make better decisions about allocating their resources with a more accurate understanding of the likely outcomes of those decisions. Read the full description of Economics.
Finance
Finance is concerned with the ways individuals, businesses and institutions raise funds to implement investment strategies, and how they allocate these funds to a variety of investment opportunities, allowing for the time between investment and future payoff and the risks attached to these future payoffs. Read the full description of Finance.
Management
Management is about providing leadership and direction within organisations to achieve particular goals and long term success. Management is required at all levels of an organisation and there are many specialist managers responsible for different aspects of an organisation’s operation. Management tasks include planning and implementing strategy, allocating resources, leading people, controlling processes and shaping staff capabilities, behaviour and culture within the organisation or unit. Read the full description of Management.
Marketing
Marketing is based on the knowledge of the needs and wants of consumers or customers. Marketers develop research methodologies to obtain this knowledge and use it to contribute to the development of products and services, manage the channels through which they are distributed and develop the positioning and communications strategies used to promote them. Read the full description of Marketing