SEBA (Statistics, Economics, Business Studies, Accountancy)
Statistics:
Statistics is a branch of mathematics that deals with the collection, analysis, interpretation, presentation, and organization of data. It involves the use of mathematical methods and techniques to extract meaningful insights and patterns from data. Statistics is used in various fields such as business, economic, social sciences, healthcare, and engineering.
It helps in making informed decisions based on data-driven insights and inferences. Some of the common statistical methods include descriptive statistics, which summarizes and describes the data, and inferential statistics, which helps in making inferences and predictions about a population based on a sample. Statistics plays a crucial role in scientific research and is an important tool in data-driven decision-making processes.
Economics:
Economics is a social science that studies how individuals, businesses, governments, and societies allocate resources to produce goods and services and distribute them among different groups. It examines the behavior of individuals and organizations in response to changes in economic variables such as prices, income, and interest rates.
Economics is divided into two broad areas: microeconomics, which focuses on the behavior of individuals and firms in the market, and macroeconomics, which studies the overall performance of the economy, including inflation, unemployment, and economic growth. Economics is essential in understanding the functioning of markets, making policy decisions, and analyzing the impact of economic factors on the well-being of individuals and societies.
Business Studies:
Business studies is an academic discipline that encompasses a wide range of subjects related to the operation, management, and organization of businesses. It covers topics such as accounting, finance, marketing, human resources, entrepreneurship, and operations management. The study of business provides students with the knowledge and skills necessary to analyze business problems, make informed decisions, and develop strategies for success in the competitive marketplace. Business studies programs may vary in structure, from undergraduate degrees to master’s degrees and beyond, and can be found in universities and colleges around the world. Graduates of business studies programs may pursue careers in a variety of industries, including finance, marketing, management, and consulting.
Accountancy:
Accountancy is a profession that involves the measurement, processing, and communication of financial information about businesses, organizations, and individuals. Accountants use financial data to prepare financial statements, analyze financial performance, and provide advice on financial matters. They play a critical role in the success of organizations by ensuring that financial information is accurate, timely, and relevant.
Accountancy encompasses many different areas, including financial accounting, management accounting, auditing, tax accounting, and forensic accounting. Accountants may work in various settings, including public accounting firms, corporations, government agencies, or as self-employed consultants. The skills and knowledge acquired through accountancy education and training are valuable in many industries and can lead to rewarding and challenging career opportunities.
