Evolving Commerce Education: The Way Ahead

Abstract

Commerce education provides an in-depth knowledge of trade and aids to trade as well as trains the people to work in different functional areas of business. It is recognized as one of the critical elements of the national development due to its vital importance in fostering trade and industry. Commerce education is one of the oldest branches of Indian higher education system. It is regarded as the base of many streams of education such as management, accounting, insurance, banking, taxation, finance, marketing and business law in India. But nowadays commerce education is competing with these new streams for its existence, as these branches are following practical based or skill oriented pedagogy. Moreover, in the present scenario, due to globalization and advancement of information technology, competitive marketplace is emerging and education systems are changing. In this age of internationalization, there is a need to transform the conventional system and practices of commerce education and to provide global competitiveness to commerce students by adopting specialized, industry oriented, technology supported, practical based, multifaceted, problem posing or knowledge centric commerce education. Reflecting on this, the present study is a venture to identify and address the challenges evolving in the dynamic world of commerce education and to suggest some innovative practices in commerce education for the improvement of its content and quality.