The youngest children start building their vocabulary and learning rhymes by studying the Three Character Classic, the essence of Confucianism in three character phrases; the Thousand Character Classic; and the Hundred Family Surnames, a collection of over 400 common surnames set in groups of four characters and rhyming at every other set.
Older children move on to Mencius, Analects, and other Confucian classics. Those of the Song Dynasty were great fans of Confucius. They also studied the Shih Ching (Book of Songs), the first Chinese collection of poems dating back to the Spring and Autumn Period; and other literature and poems of past ages. History was also an important subject.
Most schools concentrated on subjects such as literature, history, and philosophy. Chinese education never paid much attention to science, it was traditional classics that got one a place in the imperial court. But there were several well-known schools, you could consider them universities, that offered such courses and paid attention to more than mere classics. They were a gathering place for the elite and set many trends in the educated circles.
The one and only reason anyone would take the imperial exam would be to get a position in the government. There are two kinds of scholars in Chinese history: those who want to become an official and serve their nation, and those who are disgusted with the government and imperial court. The latter either leave the government after becoming disillusioned, or never join in the first place, even if summoned by the emperor himself.
Also, though being a merchant may be rewarding . . . materially, scholars rather despise it. Merchants are traditionally considered stingy, shrewd, dishonest people.
So, I would say that refusing a place in the government and taking up merchanting would definitely give Liang Tai-Po a bad name. And if the provincial official enjoys sticking his nose in another's business, he could make life difficult.