Students studying commerce and law at Somerville House develop their knowledge and transferable skills across a broad range of disciplines. Integral parts of society, commerce and law studies prepare students with an in-depth understanding of our global economy and legal system.

Financial Literacy (Year 9)

To be financially literate involves making informed financial decisions. Financial literacy is the application of knowledge, understanding and skills in financial contexts. This subject will cover concepts related to earning, saving and spending money. It aims to equip students with the confidence and competence to make smart decisions about their money.  

Accounting (Years 10 to 12)

Year 10
Year 10 Accounting is designed for students who have an interest in business studies and in the management of financial resources. The study of Accounting enables students to understand the processes involved in recording and reporting accounting information. Students are provided with opportunities to develop skills in managing financial resources which can be applied at a personal level and in the business environment. Students will be introduced to the accounting process from source documents to journals, ledgers and financial reports. They learn how to construct and populate spreadsheets to organise and manipulate Accounting data and how to use the basic features of MYOB.

Units 1 to 4 (Years 11 and 12)
When students study Units 1 to 4 Accounting, they develop an understanding of the essential role accounting plays in the successful performance of any organisation. Students learn fundamental accounting concepts in order to develop an understanding of accrual accounting, managerial and accounting controls, internal and external financial statements, and ratio analysis. Students are then ready for more complex utilisation of knowledge, allowing them to synthesise financial and other information, evaluate accounting practices, solve authentic accounting problems and make and communicate recommendations.

Accounting is for students with a special interest in business, commerce, entrepreneurship and the personal management of financial resources. The numerical, literacy, technical, financial, critical thinking, decision-making and problem-solving skills learned in Accounting enrich the personal and working lives of students. Problem-solving and the use of authentic and diversified accounting contexts provide opportunity for students to develop an understanding of the ethical attitudes and values required to participate more effectively and responsibly in a changing business environment.

Business (Years 10 to 12)

Year 10
Business is a contemporary discipline that impacts on and presents a range of challenges to individuals, community members and government representatives. The study of Business aims to equip students for their role in a global society. Year 10 Business focuses on engaging students by exploring a range of business environments and situations, achieved through an inquiry approach utilising real-life case studies and simulations. The study of Business creates a learning environment conducive to fostering entrepreneurial ambition, social responsibility and ethical behaviour.

Units 1 to 4 (Years 11 and 12)
In Units 1 to 4 Business, students investigate the business life cycle from the seed to post-maturity stage and develop skills in examining business data and information. Students learn business concepts, theories, processes and strategies relevant to leadership, management and entrepreneurship. A range of business environments and situations is explored. Through this exploration, students investigate the influence of and implications for strategic development in the functional areas of finance, human resources, marketing and operations. Learning in Business integrates an inquiry approach with authentic case studies. Students become critical observers of business practices by applying an inquiry process in undertaking investigations of business situations. They use a variety of technological, communication and analytical tools to comprehend, analyse, interpret and synthesise business data and information.

Economics (Years 10 to 12)

Year 10
Economics is integral to every aspect of our lives including our employment opportunities, business operations and living standards. At the core of the subject is decision-making: how to allocate scare resources to maximize the population's well-being. This course introduces the fields of microeconomics and macroeconomics. Microeconomics is the study of individuals, households and businesses and macroeconomics is the study of economy-wide concepts and measures including inflation, unemployment and economic growth. Students also investigate the issue of market failure in Australia and case studies of market measures and strategies. Finally, students investigate the field of international economics and the dynamics of Australia's place in the global economy.

Units 1 to 4 (Years 11 and 12)
The subject challenges students to use evidence and be innovative when solving problems in a world of complex global relationships and trends, where a knowledge of economic forces and flows leads to better decisions.

Units 1 and 2 introduce the fields of microeconomics and modified markets. Microeconomics is the study of individuals, households and businesses. Students learn the concepts of opportunity costs, economic models and the forces of demand and supply. These concepts ae applied to real-world issues of how and why markets may be modified, and the effects of government strategies and interventions.

Units 3 and 4 introduce the fields of international economics and macroeconomics. Macroeconomics is the study of aggregate and average figures in the economy such as total employment and production, consumption and investment. International economics is the study of relations between different countries. It includes trade in goods and services, capital movements and technology transfer, immigration and international monetary arrangements including exchange rates and exchange reserves.

Legal Studies (Years 10 to 12)

Year 10
In Year 10, Legal Studies focuses on the interaction between society and the discipline of law. Students study the legal system, how it regulates activities to protect the rights of individuals, while balancing these with obligations and responsibilities. An understanding of legal processes and concepts enable citizens to be better informed and able to constructively question and contribute to the improvement of laws and legal processes.

This subject lays the foundations for the study of Legal Studies at a Senior Level. The course has been designed to assist students in making well-informed subject choices at the end of the year.

Units 1 to 4 (Years 11 and 12)
The primary skills of inquiry, critical thinking, problem solving and reasoning, empower Legal Studies students to make informed and ethical decisions and recommendations. Knowledge of the law enables students to have confidence in approaching and accessing the legal system, and provides them with an appreciation of the influences that shape the system. Legal knowledge empowers students to make constructive judgments on, and knowledgeable commentaries about, the law and its processes. In Units 1 to 4, students examine and justify viewpoints involved in legal issues, while also developing respect for diversity. Legal Studies satisfies interest and curiosity as students question, explore and discuss tensions between changing social values, justice and equitable outcomes.

Legal Studies is suited to students who are interested in pathways beyond school that lead to tertiary studies, vocational education or work. This course of study can establish a basis for further education and employment in the fields of law, law enforcement, criminology, justice studies and politics. The knowledge, skills and attitudes Legal Studies students gain are transferable to all discipline areas and post-schooling tertiary pathways. The research and analytical skills this course develop are universally valued in business, health, science and engineering industries.