word-forming element meaning "under, beneath; behind; from under; resulting from further division," from Latin preposition sub "under, below, beneath, at the foot of," also "close to, up to, towards;" of time, "within, during;" figuratively "subject to, in the power of;" also "a little, somewhat" (as in sub-horridus "somewhat rough"), from PIE *(s)up- (perhaps representing *ex-upo-), a variant form of the root *upo "under," also "up from under." The Latin word also was used as a prefix and in various combinations.
In Latin assimilated to following -c-, -f-, -g-, -p-, and often -r- and -m-. In Old French the prefix appears in the full Latin form only "in learned adoptions of old Latin compounds" [OED], and in popular use it was represented by sous-, sou-; as in French souvenir from Latin subvenire, souscrire (Old French souzescrire) from subscribere, etc.
The original meaning is now obscured in many words from Latin (suggest, suspect, subject, etc.). The prefix is active in Modern English, sometimes meaning "subordinate" (as in subcontractor); "inferior" (17c., as in subhuman); "smaller" (18c.); "a part or division of" (c. 1800, as in subcontinent).
par n.
1620s, "equality in value or circumstances," also "value of one currency in terms of another," from Latin par "equal, equal-sized, well-matched," also as a noun, "that which is equal, equality," a word of unknown and disputed origin. De Vaan is noncommittal. Watkins suggests perhaps from PIE root *pere- (2) "to grant, allot," with suggestion of reciprocality. Another guess connects it with PIE root *per- (5) "to traffic in, sell" (on notion of "give equal value for"). Meaning "a standard fixed by consent or by natural conditions, average or usual amount" is first attested 1767. Golf sense is attested by 1898, which led to the figurative use of par for the course for "fairly normal, what can be expected" (by 1928).