UGC NET Syllabus for Commerce

UGC NET Syllabus for Commerce:

Commerce: Commerce is the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural and technological systems that are in operation in any country. Thus, commerce is a system or an environment that affects the business prospects of an economy or a nation-state. It can also be defined as a component of business which includes all activities, functions and institutions involved in transferring goods from producers to consumers. Some commentators trace the origins of commerce to the very start of communication in prehistoric times. Apart from traditional self-sufficiency, trading became a principal facility of prehistoric people, who bartered what they had for goods and services from each other. Historian Peter Watson dates the history of long-distance commerce from circa 150,000 years ago.

Question Pattern: There will be two question papers - UGC NET Examination in Commerce, Paper II and Paper III. Paper II will have 100 marks in total whereas Paper III will have 150 marks in total. Paper II will cover fifty (50) objective type questions, whereas the Paper III will have seventy five (75) objective type questions, each question carrying two (2) marks. All questions are compulsory in both the papers. The objective type questions will include multiple choices, matching type, true / false and assertion-reasoning type.

Paper II & Paper III (Part A) Syllabus

Unit – I

Business Environment :

Meaning and Elements of Business Environment.

Economic environment, Economic Policies, Economic Planning.

Legal environment of Business in India, Competition policy, Consumer protection, Environment protection.

Policy Environment : Liberalization Privatisation and globalisation, Second generation reforms, Industrial policy and implementation. Industrial growth and structural changes. 

Unit – II

Financial & Management Accounting :

Basic Accounting concepts, Capital and Revenue, Financial statements.

Partnership Accounts : Admission, Retirement, Death, Dissolution and Cash Distribution.

Advanced Company Accounts : Issue, forfeiture, Purchase of Business, Liquidation, Valuation of shares, Amalgamation, Absorption and Reconstruction, Holding Company Accounts.

Cost and Management Accounting : Ratio Analysis, Funds Flow Analysis, Cash Flow Analysis, Marginal costing and Break-even analysis, Standard costing, -Budgetary control, Costing for decision-making Responsibility accounting.

Unit – III

Business Economics :

Nature and uses of Business Economics, Concept of Profit and Wealth maximization. Demand Analysis and Elasticity of Demand, Indifference Curve Analysis,  Law.

Utility Analysis and Laws of Returns and Law of variable proportions.

Cost, Revenue, Price determination in different market situations : Perfect competition, Monopolistic competition, Monopoly, Price discrimination and Oligopoly, Pricing strategies.

Unit-IV

Business Statistics & Data Processing :

Data types, Data collection and analysis, sampling, need, errors and methods of sampling, Normal distribution, Hypothesis testing, Analysis and Interpretation of Data.

Correlation and Regression, small sample tests : t-test, F-test and chi-square test.

Data processing : Elements, Data entry, Data processing and Computer applications.

Computer Application to Functional Areas : Accounting, Inventory control, Marketing.

Unit – V

Business Management :

Principles of Management.

Planning : Objectives, Strategies, Planning process, Decision-making.

Organising, Organisational structure, Formal and Informal organisations, Organisational culture.

Staffing

Leading : Motivation, Leadership, Committees, Communication.

Controlling

Corporate Governance and Business Ethics.

Unit – VI

Marketing Management :

The evolution of marketing, Concepts of marketing, Marketing mix, Marketing environment.

Consumer behaviour, Market segmentation.

Product decisions

Pricing decisions

Distribution decisions

Promotion decisions

Marketing planning, Organising and Control.

Unit – VII

Financial Management :

Capital Structure, Financial and Operating leverage.

Cost of capital, Capital budgeting.

Working capital management

Dividend Policy

Unit – VIII

Human Resources Management :

Concepts, Role and Functions of Human Resource management.

Human Resource Planning, Recruitment and Selection.

Training and Development, Succession Planning.

Compensation : Wage and Salary Administration, Incentive and Fringe benefits, Morale and Productivity.

Performance Appraisal

Industrial Relations in India, Health, Safety, Welfare and Social security, Workers’ Participation in Management.

Unit – IX

Banking and Financial Institution :

Importance of Banking to Business, Types of Banks and Their Functions, Reserve Bank of India, NABARD and Rural Banking.

Banking Sector Reform in India, NPA, Capital adequacy norms.

E-banking

Development Banking : IDBI, IFCI, SFCs, UTI, SIDBI.

Unit – X

International Business :

Theoretical foundations of international business, Balance of Payments.

International liquidity, International Economic Institutions : IMF, World Bank IFC, IDA, ADB.

World Trade Organisation-its functions and policies.

Structure of India’s foreign trade : Composition and direction, EXIM Bank, EXIM Policy of India, Regulation and promotion of Foreign Trade.

Paper III (Part B) Syllabus

(Elective / Optional)

Elective – I: Accounting and Finance

Accounting standards in India, Inflation Accounting, Human Resource Accounting, Responsibility Accounting, Social Accounting.

Money and Capital market, Working of stock exchanges in India, NSE, OTCEI, NASDAQ, Derivatives and Options.

Regulatory Authorities : SEBI, Rating Agencies; New Instruments; GDRs, ADRs.

Venture Capital Funds, Mergers and Acquisitions, Mutual Funds, Lease Financing, Factoring, Measurement of risk and returns securities and portfolios.

Computer Application in Accounting and Finance.

Elective – II: Marketing

Marketing Tasks, Concepts and Tools, Marketing Environment.

Consumer Behaviour and Market Segmentation.

Product decisions

Pricing decisions

Distribution decisions

Promotion decisions

Marketing Researchs

On-line marketing

Direct Marketing; Social, ethical and legal aspects of marketing in India.

Elective – III: Human Resource Management

Concept; Role and Functions of Human Resource Management.

Human Resource Planning, Job analysis, Job description and specifications, Use of Job analysis information, Recruitment and Selection.

Training and Development, Succession Planning.

Compensation : Wage and Salary administration, Incentives and Fringe benefits, Morale and Productivity.

Appraisal Performance

Industrial Relations in India, Health, Safety, Welfare and Social Security, Workers participation in Management.

Elective – IV: International Business

Foreign Direct Investment and Multinational Corporations-MNCs Culture, MNCs and LDCs, Joint Ventures.

Regional Economic Integration : SAARC, ASEAN, EC, NAFTA.

India and WTO, Intellectual Property Rights.

Foreign Exchange : Exchange rate, Mechanism, Risk management, Transfer of international payments, Convertibility of Rupee, Current and Capital Accounts; Issues and Perceptions, Derivatives and Futures.

Foreign investment Institutions; Instruments : GDRs, ADRs, FIIs-their role in Indian Capital Market.

Elective – V: Income – tax Law and Tax Planning

Basic concepts, Residential status and tax incidence, exempted incomes, computation of taxable income under various heads.

Computation of taxable income of individuals and firms.

Deduction of tax, filing of returns, different types of assessment; Defaults and penalties.

Tax Planning : Concept, significance and problems of tax planning, Tax evasion and tax avoidance, methods of tax planning.

Tax considerations in specific business decisions, viz., make or buy; own or lease, retain or replace; export or domestic sales; shut-down or closure; expand or contract; invest or disinvest.

Computer Application in Income tax and Tax planning.