Business/Commerce courses are now the most popular course in australia wide accounting for 70,924 people as their number one preference. (SMH CAMPUS-teritiary education guide, weekend edition 20-21/12/03)
That being said, i dont get the feeling that arts degrees have decreased at all, in fact, i think their popularity has been quite stable. (accounting for 60,019 under humanities)
As for redundancy in business degrees, i think that will purely depend on what major u choose. Majors such as accounting, imo, will probably never have an expiry date as all sectors across all industries will require accounting professionals, regardless of economic or social change.
other less "directed" majors will, and may suffer such as Business Law (which i dont see the point in, enlighten me people, as professional lawyers dealing in corporate law are the only people qualified to fit that criteria) may become redundant.
As for ur point in the decreasing demand for arts subjects, some other reasons which "may" contribute to ur point:
1. No clear cut path of career upon graduation
2. Subjects are too vague and do not reflect the demand in what
employers are looking for in graduates?
that being said, i believe that arts graduates have a solid, well rounded eduaction (which may help in the workplace). Ms 12, i believe that most law students that combine their studies with arts ge nerally take the law path upon graduation ( i dunno why, i just feel that way), whilst comerce graduates ay opt for a career path with their commerce major