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Saturday, April 12, 2014

Reviewed Version of HISTORY OF COMMERCE

The Development of Commerce Teaching History in India.


Commerce and trade are ageless concepts. They are as old as mankind. There has been a historic growth in the fields of commerce, industry and science in the recent past. This growth demands a specialised education in various fields concerned with science, commerce and industry.

If one turns the pages of history, Higher education in Commerce in India is nearly 102 years old.


Formal commerce education was first started in India in 1886 at Madras by the Trustees of Pachaiappa’s Charities in the form of commercial School. Thus the formal commerce education in India is nearly 118 years old.


At collegiate level the Presidency College, Calcutta started Commerce classes in 1903.

By about that time it was also introduced in Delhi. One more commercial institution was started in Bombay in 1912. At the graduate level the commerce edu­cation was introduced in 1913 in Sydenham College of Commerce and Economics in Bombay.


A very rapid growth of commercial educational institutions was observed during 1920-40. The Indian Institute of Bankers was estab­lished in 1926, the Institute of Chartered Accountants of India was established in 1934. Later on in 1944, Institute of Works and Cost Accountants of India was established. In 1955, the Federation of Insurance Institutes was established.


To cope with the increasing demand for the trained people to transact commercial and governmental jobs, it became essential to introduce the commerce education at school level.


To start with the teaching of short-hand and typing was intro­duced in Government schools and aided schools and afterwards the teaching of commerce was introduced in such schools. Now the com­merce education has been included in the school curriculum.


According to Dr. Khan, "Commerce education got some impe­tus in conjunction with the growth in the volume of the business. The constantly growing demand for typists, stenographers, book-keepers and clerical workers made commerce curriculum a very desirable addition to secondary school programme. The tremendous spurt in commerce and industry with the planned economic development of the country made the possession of commercial competencies essen­tial to commercial career.


Now, there is a great demand for office workers who can type readily and accurately, take and transcribe notes quickly and correctly, keep financial records and operate busi­ness machines effectively. In addition it has been discovered that type writing and other commercial subjects can make valuable contribu­tions to the general education of the students".


In the new scheme of education (I.C. 10+2+3 pattern of educa­tion) sufficient attention has been paid to commerce education in Indian schools. In addition to shorthand and typing some more sub­jects that have been included for teaching in commerce are as follows:

(I) Book-keeping and Accountancy,

(II) Commercial mathematics,

(III) Sectarian practice,

(IV) Commercial English / Hindi,

(V) Commercial Law,

(VI) Industrial law,

(VII) Taxation,

(VIII) Income Tax,

(IX) Salesmanship,

(X) Applied economics,

(XI) Public relations, and

(XII) Advertising.


The teaching of Commerce subjects starts from XI class and in class XII the syllabus is quite advanced. Many a commercial subjects are also taught in vocational institutes.


At present commerce education is considered as good education because of the distinct advantages that a commerce student has over his counter-part in the arts faculty. It is believed that a commerce student not only achieves just training and perfection, but also a general professional intelligence.


Origin of commerce as a discipline:


·         1819 – The world's first business school, ESCP Europe was founded in ParisFrance. It is the oldest business school in the world and now has campuses in ParisLondonBerlinMadrid, and Torino.

·         1855 - The Institut Supérieur de Commerce d'Anvers (State funded) and the Institut Saint-Ignace - École Spéciale de Commerce et d'Industrie (Jesuits education) were founded in the same year in the city of AntwerpBelgium. After almost 150 years of business education and rivalry between catholic and state education, the successors of both institutions have merged in 2003 to the University of Antwerp.

·         1857 – The Budapest Business School was founded in the Austrian Empire as the first business school in Central Europe. It is the oldest public business school in the world

·         1871 – The Rouen Business School recently merged with Reims Management School under the name of NEOMA Business School. Rouen Business School is one of the oldest French business school.

·         1881 – The Wharton School of the University of Pennsylvania is the United States' first business school.

·         1898 – The University of St. Gallen established the first university in Switzerland teaching business and economics.

·         1900 - The first graduate school of business in the United States, the Tuck School of Business at Dartmouth College, was founded. The school conferred the first advanced degree in business, specifically, a Master of Science in Commercial Sciences, the predecessor to the MBA.

·         1902 - The Birmingham Business School is the United Kingdom's first business school. Originally established as the School of Commerce was established in BirminghamUnited Kingdom.

·         1906 – The Warsaw School of Economics (SGH) was established as the first university in Poland dedicated to teaching commerce and economics.

·         1908 - Harvard Business School was founded at Harvard University. It was the first program in the world to offer the Master of Business Administration degree.

·         1946 – The Thunderbird School of Global Management, then called the American Institute for Foreign Trade, was the first graduate management school focused exclusively on global business.

·         1949 – The University of Pretoria in South Africa founded the oldest business school in Africa. In January 2008 the Graduate School of Management was formally replaced by the Gordon Institute of Business Science.

·         1949 - XLRI - India's oldest business management school is founded.

·         1954 - The Faculty of Management Studies (FMS), University of Delhi is among one of the oldest business schools in India.

·         1955 - The Institute of Business Administration, Karachi was the first business school to be established outside North America to offer an MBA degree.

·         1991 – The IEDC-Bled School of Management was the first business school to offer an MBA program in Eastern Europe.

·         1994 – CEIBS (China Europe International Business School) was the first business school in China to have received funding from a foreign government, namely the European Commission.




At present commerce education is considered as best education because of the distinct advantages that a commerce student has over his counter-part in the other faculties. It is believed that a commerce student not only achieves just training and perfection, but also a general professional intelligence.











1.      Lecturer notes shared by Professor Neetu Patyal through Skype on 29/03/2014


2., Last visited on 12/04/2014.



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