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Eco. 236–14-01-2022 (Online Discussion/Quiz 1—ICT and Economic Growth)

1.The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development

2. Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socioeconomic world.

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  1. Avatar Opara Princess Adanna 2019/245454 says:

    Opara Princess Adanna 2019/245454

  2. Avatar NAME: UGWUEZE AMARACHI EMELDA REG NO: 2019/250928 says:

    UNIVERSITY OF NIGERIA NSUKKA
    DEPARTMENT OF ECONOMICS
    NAME: UGWUEZE AMARACHI EMELDA
    REG NO: 2019/250928
    COURSE CODE/TITLE: ECO 236/ COMPUTING APPLICATION FOR ECONOMIST 2
    DATE: 18/01/2022

    NO 1
    It is estimated that by 2003 almost all decisions made in science and technology, economics, and business development will be based on information that has been generated electronically. Access to information is thus a key factor in the generation of wealth and there is a strong link between a nation’s level of development and the level of technological uptake. Governments are the main actors here, and they need to proceed in partnership with the key stakeholders in ICT provision – including existing and possible future carriers, internet service providers, high technology companies, business users, educators, bankers, and community groups – in order to ensure that a comprehensive system is put in place. Some particular goals for governments include: (i) acting as catalysts and giving strong leads in showing the importance of ICT use; (ii) creating a regulatory infrastructure to enable easy and eVective use of ICTs; (iii) establishing genuine and productive partnerships; (iv) ensuring that ICTs feature in the mainstream educational curriculum; (v) minimising electronic barriers; (vi) taking the needs of poor communities as a starting point, rather than imposing external agenda, ideas, and expectations; (vii) facilitating access to scientiŽ c and technological information online.
    Thus, for example, ICTs can be used to erode inequalities in communications, providing faster and cheaper communication as well as rapid support and advice in times of disaster and emergency. They can also help to reduce oppression and promote human rights by bringing greater attention to bear on individual cases. In the same way, in education ICTs can provide the choice of how, when, where, and at what rate to study, enabling all levels of education to be brought to the more remote parts of the world, and encouraging non-traditional learners to acquire basic literacy skills. In short, the evidence suggests that under the right conditions ICTs may deliver substantial beneŽ ts. However, signiŽ cant barriers to the eVective uptake and use of ICTs by both developed and developing countries also exist, recommending caution in their application. Perhaps, in the end, it may be easier to say what ICTs are not: ICTs are not a magic potion for development or a replacement for real world processes. It seems appro- priate to cite the words of UN Secretary-General KoŽ Annan during the formal launch of the Task Force on Information and Communications Technology: The new technologies that are changing our world are not a panacea or a magic bullet. But they are, without doubt, enormously powerful tools for development. They create jobs. They are transforming education, healthcare, commerce, politics, and more. They can help in the delivery of humanitarian assistance and even contribute to peace and security 
    NO 2
    In the academic unit Microsoft Excel application explores productive creativity in students mind. Finance and economics is the most important part of our life. Later they have to work in companies, HR departments, they will run their own business and they have to manage their own daily life finance. Many business owners and people suffer in business due to bad finance or money management. Students will learn such things in Excel, so they can survive or grow above survival in business and career. That’s why Excel can help to build strong financial thinking by managing, performing business and daily life financial calculations.
    If students are strong in financial education before completing their academic education then it will be easier for them to get benefits from subjects like math, economics, and account in their life. And Microsoft Excel provides those tools and features for everyone.
    Teachers have to include Microsoft Excel in mathematical, financial and economical topics practically. So, students can become stronger, powerful and great in money management and spending habits. Such thing if students understand and perform a calculation on their money spending habits, savings then they can predict and visualize what type of results they will get in future and what they can do if they are getting bad financial results.
    This is about using data and information for predicting the future. And it was happening before Microsoft Excel. But today, Computer education or Microsoft Excel practical education is not optional but a necessity for every student around the world.

    Using Excel for Academics and Socioeconomic reasons has almost no limits for applications. Here are some examples:
    • When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
    • Excel creates revenue growth models for new products based on new customer forecasts.
    • When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    • When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    • You can calculate customer discounts based on monthly purchase volume by product.
    • Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    • Use complex calculation methods, like Sharpe ratios.

  3. 1. What is the role of ICT in development?
    Information and Communication Technology (ICT) in education is the mode of education that uses information and communications technology to support, enhance, and optimize the delivery of information. Worldwide research has shown that ICT can lead to improved student learning and better teaching methods. and ICT for development includes these.

    Facilitate Digital Literacy
    Promote ICT Solutions for Development
    Empower the Poor Households with Technology
    ICT stands for information and communication technologies. Information technologies include the entire gamut of technologies that deliver digital data-based content, including the computers of all kinds such as desktops, laptops, hand-helds and servers, and network technologies that link computers together and create the internet. Communication technologies include the existing analog technologies such as radio and television as also digital mobile phones. Taken together, the ICT represent a powerful set of technologies that when accessed by masses of people can assist with providing health care, education, safety, access to relevant information, government services and other developmental services. ICT can handle and manipulate large quantities of information in various forms, and can move them over large distances efficiently and cost effectively. With regard to this, they are considered highly suitable for development of communities and even entire nations.

    2.Following are some importance of Excel that are related to our daily life and business lives.

    Easy Computation Solutions
    MS Excel has the ability to do several numbers of arithmetic calculations. With the help of different formulas, it can add, multiply, subtract, and divide lots of numbers simultaneously. Moreover, it can easily be re-do if the value is changed or added.

    Options Of Formatting
    Excel has various formatting options, like highlighting, italics, colors, etc., that enable businesses to show and bring out the essential data differently.

    Availability Of Online Access
    MS Excel is part of the Office 365 productivity Suite. It means businesses’ employers and employees can easily access their files over the cloud network.

    Analysis Charts
    MS Excel enables its users to create analysis charts easily. You can create Pie charts or Clustered Columns by filtering and correctly inputting data in just a few clicks. Even Excel allows you to customize the colors and boundaries of the diagrams.

    All Data At One Place
    Excel contains over 10 lakh rows and 16 thousand columns in the spreadsheet. You can also import data, add pictures and other objects through the insert tab. Excel enables you to put all the data you collected from different files in one place easily.

  4. Avatar UBAZORO CHUKWUEMEKA GEORGE2019/251195 182 says:

    UBAZORO CHUKWUEMEKA GEORGE2019/251195

    ECONOMICS DEPARTMENT

    Answer to question 1

    ICT promote development across many dimensions. At their most fundamental level, ICT enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive. … Public-sector uptake of ICTs is also making governments more efficient and their decision-making more transparent.
    Information and communication technology has made the world a global village in terms of interconnections among people and institutions worldwide. It is the set of technologies that enables the acquisition, production, storage, processing, communication, registration and presentation of data in the form of voice, images and data contained in signals. Nowadays, it is used for merging several technologies having different sets of data and formats.

    ICT aims at enhancing quality, performance and interactivities of urban services while reducing cost and resource consumption. It needs some standards to be followed on a global level. ETSI offers such ICT standard solutions. It provides an ecosystem to understand, shape, drive and collaborate on standards applicable across the industry for interoperability and security.

    IMPORTANT OF ICT IN DEVELOPMENT

    It has turned the World into a Global village (i.e it has connected people from every nook and crannie ).

    Knowledge has become more widespread and accessible.

    Health sectors have become better or even perfect compared to the past.

    Communication as in the context of the ICT is not what it was before, now through communication Lives are being saved from across the globe.

    Transportation systems have been faster than before (It took days/weeks or months to travel from one state to another, but ICT has increased it now to hours or minutes)
    In conclusion, ICT plays a major role in Economic growth and development as there can’t be development without ICT.

    Answer to question 2.

    WHAT IS MS EXCEL?
    MS Excel is a spreadsheet programme developed by Microsoft in 1985, with the sole purpose of helping businesses compile all their financial data, yearly credit, and yearly debit sheets. Fast forward to the future after 31 years, it is now the most commonly used program for creating graphs and pivot tables. However, many still believe it is just a mere tool for small business purposes. That’s WRONG! Today, we are going to look at some of the major important purposes MS Excel is most used for. So, let’s start!

    IMPORTANCE OF MS EXCEL IN OUR TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD.

    EASY ARITHMETIC SOLUTIONS

    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    FORMATTING OPTIONS

    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    AVAILABILITY OF ONLINE ACCESS

    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    CHARTS FOR ANALYSIS

    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    BRING ALL THE DATA IN ONE PLACE

    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    HUMAN RESOURCE PLANNING

    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis. If you want to, you can learn more about this programme and take courses here:

  5. Avatar Ugwuja Divine Uchenna says:

    Ugwuja Divine Uchenna
    2019/244341
    economics department
    1)ICT contributes to economics and economic development. one way this is achieved is through the manufacturing of devices that make up ICT such as monitors, keyboards, CPUs etc. the manufacturing process helps to provide decent jobs to individuals for example China is the manufacturing hub for Apple and India is the country that handles the software designing and packaging work outsourced by Microsoft. Such a process of outsourcing helps provide decent jobs to thousands of people in developing countries thus, contributing to poverty reduction.
    After manufacturing of such electronic devices, computer professionals, as well as companies and businesses, purchase them for use in their establishments. this simple act of exchange can generate revenue for governments. such revenue is seen as economic growth
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles.

    2)excel is seen by many as the industry standard for data analysis, including graphing and producing tables. Using Excel can enhance understanding of content within a graphic presentation of the information; it provides a visual representation of data that makes it easier to analyze.
    Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.
    One of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over time. For example, you can compare data collected by a group of collaborating teachers within one school, one county, or around the world.
    Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists.

  6. Avatar Chidubem Joshua says:

    Name: Chidubem Joshua
    Reg no:2019/244235
    Department: Economics
    Level:200/
    Course code:eco 236
    1)ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo- gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    2)Excel is mostly used for easy complications of data by students
    And for easy planning of the day by workers

  7. Avatar Oguzie Echezonachukwu Sixtus says:

    Name: Oguzie Echezonachukwu Sixtus
    Reg Number: 2019/249165
    Department: Economics
    Course Code: ECO 236

    Roles of ICT in Economics and Economic Development:

    The important economic impact of ICT is linked to having a sector producing ICT goods and services. Having such a sector can be important for growth, since ICT-
    production has been characterized by rapid technological progress and very strong demand. The sector has therefore grown very fast, making a large contribution to economic growth, employment and exports. Moreover, having a strong ICT sector may help firms that wish to use the technology, since the close proximity of producing firms might have advantages when developing ICT applications for specific purposes. Having an ICT-producing sector can thus support growth, although previous OECD work has shown that it is not a prerequisite to benefit from the technology.
    An impact of ICT that shows up at the aggregate level is linked to the use of ICT. Several studies have examined the performance of those sectors of the economy that are intensive users of ICT. Most of these are located in the services sector, e.g. industries such as finance, business services and distribution. In some countries, notably the United States and Australia, there is evidence that sectors that have invested most in ICT, such as wholesale and retail trade, have experienced an increase in the overall efficiency of using labour and capital, or multi-factor productivity growth. This could be because these sectors have received productivity gains from ICT use over and above the labour productivity gains they received from investment in ICT, for instance because of network effects.

    Relevance of Excel in academic and socioeconomic world:
    The effective use of ICTs by enterprises can result in greater productivity leading to greater competitiveness and thus sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets. The Internet is dramatically changing the way goods and services are produced, delivered, sold and purchased. It leads to an ever growing number of people and businesses connected digitally, ready to participate in and contribute to the knowledge economy. The use of the Internet empowers weak players in the global economy – such as small business owners in developing countries – by providing them with information, communication and knowledge they could not access before. Trade in goods and services is expanding thanks to new technologies. Evidence shows that growth in ICT goods and services trade has been higher than growth in total trade. In addition, ICTs enable trade in other sectors by enhancing market access and broadening the customer base, facilitating customs, transport and logistics. Most importantly, ICTs play an economic role by changing production processes within firms.
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

  8. Avatar EGWUONWU OLISAEMEKA ELOCHUKWU says:

    EGWUONWU OLISAEMEKA ELOCHUKWU
    2019/245027
    Economics
    (1). ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo- gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    Economic competitiveness depends on productivity level and in the knowledge economy, ICT sectors determine the productivity level.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft.
    “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff.
    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production.
    (2) Excel reduces the difficulty of plotting data and allows students a means for interpreting the data. You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet.
    Finance and Accounting
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most.
    Marketing and Product Management
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.
    Human Resources Planning
    While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.

  9. Avatar Ugodu Ugochinyere Immaculate 2019/241611 says:

    1. Information and communication technology (ICT)enables Economic growth by broadening the reach of technologies such as high speed internet, mobile broadband and computing. Expanding these technologies itself create growth and the fact that technologies make it easier for people to interact and make workers more productive and create additional benefits.
    Economic growth refers to the continuous increase in the output of goods and services from one year to another year in an economy.
    ICT will enhance a productive growth in the economy by making use of highly intense technological instruments which enhance growth in the economy.

    2. To sum up the broad benefit of learning Excel for Student include faster and more accurate decision making.quick calculations seamless data visualization and lot more. Many students accross the globe are waking up these benefits and starting to master the art of microsoft excel.

  10. Avatar Onyekperem Urudinachi Victory 2019/241536 says:

    1. Information and communication technology (ICT)enables Economic growth by broadening the reach of technologies such as high speed internet, mobile broadband and computing. Expanding these technologies itself create growth and the fact that technologies make it easier for people to interact and make workers more productive and create additional benefits.
    Economic growth refers to the continuous increase in the output of goods and services from one year to another year in an economy.
    ICT will enhance a productive growth in the economy by making use of highly intense technological instruments which enhance growth in the economy.

    2. To sum up the broad benefit of learning Excel for Student include faster and more accurate decision making.quick calculations seamless data visualization and lot more. Many students accross the globe are waking up these benefits and starting to master the art of microsoft excel.

  11. Avatar UCHEOMA DANIELLA CHIMDINDU says:

    NAME: UCHEOMA DANIELLA CIMDINDU
    REGISTRATION NUMBER: 2019/241763
    EMAIL ADDRESS: Danympompo123@gmail.com

    1. ICT is playing an increasingly important role in both the microeconomics and microeconomics of a country, as well as the global economy. The presence of the Information and Communication Technology (ICT) industry – including telecommunication operators, computer and software producers and electronic equipment manufacturers – has fueled the growth of the economy, as well as its development. It has also aided in economic activities such as manufacturing, selling and even consumption. ICT is very important to the economy and it is pertinent to state its roles in the economy.
    To begin with, it is a major source of economic information in our society today. For an economy to thrive there must be people who are well informed about the economy working in it and also performing economic activities. Information about the economy can be got through e-libraries, televisions (the news) and also the well-known social media.
    The information gotten from ICT is used for Economic planning and making Economic predictions for firms, individuals and government. This will enable the firm, government or individual to know the next economic action to take. For instance, the GDP of a country for the past ten years is sourced from ICT and this will help economic planners predict the next GDP. If it is declining, a new economic plan will be made for the improvement of the economy. For the firm, this enable them to know if continuing their production is safe in the economy or if there should be a withdrawal of their investment. The individual or household will know how to manage expenses depending on the economy because of the accessibility of the economic data thanks to ICT.
    It enables economic growth by broadening the reach of technologies such as high speed internet, mobile broad band and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make work more productive creating additional benefits. It has also enforced the business world to substitute and modify conventional capital and labour.
    ICT’s wide scattered application allows new business models and management practices, new products embedding ICT, easier expansion to global markets and ICT-enabled emergence of new markets. These applications of ICT in the economy eventually lead to development of the economy.

    2. Papers, pencils and calculators were used to perform tasks such budget management before the development of adequate software to aid in the task. This was time consuming and most of the time discouraging as certain limitations were met and workers found it difficult fill ledger sheets, calculate and recalculate data and so on. The beauty of Microsoft Excel is its abilities to simplify these tasks; It is a full featured spreadsheet program that allows you to organize data, complete calculations, make decisions, transform data to graph and develop professional looking reports. Microsoft Excel has proven to be the most efficient spreadsheet package in its application in the academic and socioeconomic world.
    MS Excel is useful myriad and innovative ways in the academic world. It has proven to be effective in the teaching-learning process. Students can learn by using the application to convert raw data into meaningful information; they can also learn how to perform calculations faster. MS Excel help students understand how data can be visualized and how to manipulate these data when performing activities such as financial planning. By using these application, they will be trained on how to carryout activities faster later in their career.
    Ms. Excel is an effective application when it comes to enhancing teaching skills; Teachers can now use Excel to convert any spreadsheet into a web page and share it with students. This is an effective way of improving teaching efficiency. Furthermore, teachers prepare graphic presentation of some of the contents they teach their student; this aid in the improvement of visual learning and the students are able to understand faster.
    In the socioeconomic world, Microsoft Excel has proven important in businesses, individual management and economic development at large. It can be said that it has contributed greatly to a better civilization which has initiated a socioeconomic growth. MS Excel is used to carryout activities such as financial planning, marketing and product management and even human resource management. Individuals use it to plan budgets and manage homes though not as frequent as it is being used by firms and national budget planners. MS Excel makes it easier to run the economy of a country by presenting economic data in the form of graphs and chats. This way, errors are being easily identified and whatever needs to be changed will be changed. This will lead to economic growth and even development.
    Anything can be done using a spreadsheet.

  12. Avatar Nwabuebo Success Ekene 2019/248711 says:

    1. Information Communication Technology (ICT) has proved to be very vital in our daily lives..In terms of communication and information distribution e.t.c
    It promotes growth and development across the various sectors of the economy..it enables different departments of the economy to increase productivity in a less time space thereby spurring economic growth..ICT has also broken the barrier between the government and the citizens,this enables the people to be more directly involved in the political and economical activities of the country.
    ICT has also been a backbone to the reduction in poverty rate by creating more employment opportunities for the people.ICT has become a major factor in deriving competitiveness in economic growth and development.

    2.
    The most relevant use of Excel is it’s ability to perform mass arithmetic calculations. With a wide program encoded with formulas, It becomes easy to solve and calculate economic problems and patterns. It is also used for financial analysis. Business finances and more can be analyzed through the excel spreadsheet with relative ease. Therefore it’s importance cannot be Overemphasized.

  13. Question one
    In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development.

    The multifaceted roles of ICT in economic growth
    Information and communication technology (ICT) offers the promise of fundamentally changing the lives of much of the world’s population. In its various forms, ICT affects many of the processes of government and business, how individuals live, work and interact, and the quality of the natural and built environment. The development of internationally comparable ICT statistics is essential for governments to be able to adequately design, implement, monitor and evaluate ICT policies. .Information and Communication Technology (ICT) has now been accepted as one of the main driving force behind organizational competitiveness in the present day business environment. Presently, ICT is having dramatic influence on almost all areas of human activities and one of the areas of economic activities in which this influence is most manifest is the banking sector. The banking industry is one of the critical sectors of the economy which makes invaluable contributions to the pace of economic growth and development of nations . However, this study seeks to examine the impact of ICT on the Nigerian economic growth and development.
    Most developing nations including Nigeria have embarked on various reforms that foster the use of ICTs in their economies. These reforms tend to yield little or minimal benefits to economic growth and development, especially when compared with the developed countries of the world. Technological advancement is known to impact fast rate of economic development. In Nigeria, policy on adoption of Information and Communication Technologies was initiated in 1999, when the civilian regime came into power of government. The operations of the licensed telecommunication service providers in the country has created some well-felt macroeconomic effects in terms of job creation, faster delivery services, reduced transport costs, greater security and higher national output
    Attempts to ensure sustainable economic development and poverty reduction of most nations usually involve the development of agriculture, mining, industrial as well as the service sectors. The Industrial Revolutions in Europe and America, generally and specifically, have been premised on technological breakthroughs. During the late 1990s, Information and Communication Technology (ICT) was the largest contributor to growth within capital services for both Canada and the United States. Similar trend has been observed with the economic development of China, Korea, Taiwan, India, South Africa, and other emerging economic powers.
    Information and Communication Technology has helped Nigeria’s economy in so many ways.
    At the wake of 2000, the Federal Government of Nigeria embarked on an aggressive drive towards the provision of more efficient services in the nation through its privatization and deregulation policies the ICT subsector. The policy thrives led to the establishment of National Telecommunication Policy in December 2001. The policy, among other things, recognized the need for the establishment of an enabling environment for deregulation and rapid expansion of the telecommunication services in the country. The mission statement of the government was to use ICTs for Education, Creation of Wealth, Poverty Eradication, Job Creation, and Global Competitiveness. The policy objective was to develop globally competitive quality manpower in ICTs and related disciplines. This entails developing a pool of ICT engineers, scientists, technicians and software developers. Consequently, attractive career opportunities will emerge in addition to development of software’s and computer components that can earn the nation some foreign exchange. The implementation of ICTs policy led to the adoption of Global System for Mobile-Communications (GSM) and its related components in Nigeria. The introduction of the GSM in Nigeria was to expand the teledensity in the country and to make telephone services cheaper and accessible to the common person as it had been introduced in some African countries like South Africa, Ghana, and Benin Republic among others. GSM is ICT based telecommunication that can contribute to the growth and development of any nation. These Telecommunication Networks have created significant effects on the gross domestic product (GDP) of Nigeria in terms of job creation, communication linkages, connectivity, security of lives, and reduced transport costs among other. Past studies on the developing economy have bothered on the challenges and roles of ICTs on Economic growth.
    The role of ICT in economic development.
    Information and communication technology (ICT) has accelerated the growth of the global economy and improved the quality life of the world’s inhabitants. ICT has brought new ways of creating livelihoods for people. The diffusion of ICT has also increased year by year and made it possible to reduce poverty. I willICTs promote development across many dimensions. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive. The production of goods and services within the ICT sector directly contributes to the creation of value-added goods and services in the economy.

    Question two
    The relevance of excel in today’s academic and socioeconomic world.
    Excel is a spreadsheet application developed and published by Microsoft. It is part of the Microsoft Office suite of productivity software.
    Unlike a word processor, such as Microsoft Word, Excel organizes data in columns and rows. Rows and columns intersect at a space called a cell. Each cell contains data, such as text, a numerical value, or a formula. Excel was originally code-named Odyssey during development. It was first released on September 30, 1985.
    Excel is very beneficial for students. Students can learn by using excel how to convert raw data into meaningful information. They will learn by doing exercises in Excel how to perform calculations faster. They will understand by using Excel how data can be visualized. They will learn how to do financial planning. Students can learn why data and information are important to filters. They will learn in Excel why how to track goal progressions, how salaries are calculated etc. are essential things they will face and use in the future but if they are practicing on such things using Microsoft Excel earlier in their career, it will be easy for them in the future to handle a large amount of data and information easily and accurately. Students can become good and proficient in any school or college subjects by using Microsoft Excel. Microsoft Excel is really important in our education system that enhances data management creativity in students mind. Microsoft Excel is an important application in computers that need to be used in the classroom and education.
    Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy. Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.

    What is socioeconomic?
    Socioeconomic system at the regional level refers to the way social and economic factors influence one another in local communities and households. These systems have a significant impact on the environment through deforestation, pollution, natural disasters, and energy production and use.
    The relevance of excel in socioeconomic world
    Moreover, socioeconomic developments that have been happening in many societies around the world are moving traditionally collectivistic or interdependence-oriented cultures toward “increased emphasis on individual freedom-focused values” including intrinsic motivation.

  14. Avatar Ilami Benison Iboh says:

    Question 1

    From the dawn of the 20th century till date, there has been a major tilt towards Technology worldwide.
    Starting from the 1950’s, Information and Communication Technology has developed rapidly and and the 21st century has seen this industry take center stage in all aspects of human dealings from Health to Politics, from Sports to Education, from Entertainment to Commerce etc. This has been heightened by the emergence and subsequent relevance to, recently, dependence of the Internet.

    The Covid-19 pandemic was a time of economic crisis for the world at large and will be a very good time to point out the multifaceted roles of ICT in Economics and Economic Development.

    In 2020 when Covid became a reason for Worldwide lockdown, countries that were ‘actually strict’ with the lockdown and yet poor in the area of ICT were the worse hit economically.

    Nations that were ICT savvy quickly switched to online retail, online buying and selling, online meetings, online classes and ultimately working from home.
    One of my favourite shows at the time ‘The Daily Show’ with Trevor Noah, started by stopping its studio audience from attending the show and ultimately move the show to the homes of the hosts. This cannot be said of countries that had no been digitalized.

    In conclusion, ICT doesn’t just play a multifaceted role in the Economy and Economic Development but it plays important roles in all these facets of the Economy and Economic Development.

    Question 2

    Microsoft Excel as a spreadsheet application is comparable to other spreadsheet applications but some of its features have made it relevant in today’s academic and socioeconomic world.

    Excel provides all of the standard spreadsheet functionalities which make it useful for other analysis and data manipulation tasks, including generating graphical and other presentation format.

    Also, Excel not only performs several different and useful inferential statistics used in businesses as well as management research but is also used for data entry, manipulation and presentation as well as a suite of statistics.

    All of these features have made Excel, the go to application when the above mentioned needs are to be satisfied and that is what makes Excel relevant in today’s academic and socioeconomic world as a plethora of people from students to accountants to managers and researchers as well as business owns s of all scales etc find Excel very useful in these spheres.

  15. Avatar Ogbodo Emmanuel chukwuemeka says:

    Name:OGBODO EMMANUEL CHUKWUEMEKA
    Reg no: 2019/246458
    Email add: chukwuemekaemma2019@gmail.com

    1. ROLE OF ICT IN ECONOMICS GROWTH

    1. Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world. It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services.
    2. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    3. Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can takebitself online where it may be able to expand its coverage area by getting more orders from different places.
    4. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-vpayment platforms being utilised. Thus,
    the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productivesector to a higher productive one.

    ROLES OF ICT IN ECONOMY DEVELOPMENT

    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of
    this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work
    outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient –
    delivering economic growth. Furthermore, setting up manufacturing
    points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.

    LIMITATION OF ICT IN ECONOMY DEVELOPMENT

    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor
    quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry
    where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information
    start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth. And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are stillvstruggling to lift significant portions of
    their population out of poverty, the slightest bit of cost associated with
    information, such as the cost of travel, bureaucracy etc. will prevent people fromaccessing it.

    2. RELEVANCE OF EXCEL IN ACADEMY
    1. Faster, more accurate calculations With the formulas that Excel supports, you get to perform faster calculationsvautomatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-bconsuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even
    the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    2. Enhanced analytical skills MS Excel opens a lot of creative avenues for
    students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing,
    analyzing, and performing business and daily life financial calculations.
    If even before you’ve joined a corporate, you’re good with finances management, and using Excel to perform analytics, you’ll be an
    asset for the company you go to. Further, chances are the organization you’ll enter already uses Excel or some similar software. So, with your working knowledge, you’ll be all set to leave your mark in the professional
    world.
    3. Data visualization techniques and ideas As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization
    is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily- consumable pictorial format. That is where the various visualization methods of Excel come in handy.

    EXCEL TO SOCIOECONOMIC

    They offer tailored monitoring and evaluation solutions from project design right through to ex-post evaluation, helping their clients enhance the effectiveness and efficiency of their programmes to produce a sustainable impact, as well as providing forward-looking insights and facilitating accountability.The services they offer include, but are not limited to, the following: Programme and system design Third-party monitoring and evaluation Qualitative and quantitative data collection and analysis Project cyclevmanagement Baseline studies Impact assessment Strategic Planning They provide clients with the tools and leadership required to develop strategic results. They develop an intimate understanding of the client’s organisation – its special needs, capacities and resources – and use this knowledge to understand the vision of the organisation and support future success. They have strong experience in strategic planning for NGOs, public and private sector organisations, in the following key areas: Institutional strengthening Organisational restructuring Decentralisation Urban development Governance and public administration
    Result Based Management (RBM) Facilitation Training of Trainers (ToT) Corporate social responsibility Organisational restructuring Economic Research and Policy Analysis They aim to encourage and promote sustainable economic development at home and across the MENA region.

  16. Avatar Name: Onyia Ugochukwu Sullivan Reg No: 2019/249490 says:

    UNIVERSITY OF NIGERIA NSUKKA
    DEPARTMENT OF ECONOMICS

    Name: Onyia Ugochukwu Sullivan
    Reg No: 2019/249490
    Department: Economics
    Course Code and Title: Eco 236/ Computing Applications for Economists 2
    DATE : 17 JANUARY 2022

    NO1: Discuss the multifaceted roles of ICT in Economics and Economic Development
    1 INTRODUCTION
    Economies around the globe differ extremely regarding their rates of economic growth. The developed world steadily grows at high levels of national income1. In some developing countries, e.g. Developing Asia, extraordinary high growth rates can be identified (see Figure 1), in contrary to the rest – there is a widening economic divide.
    Figure 1: The world economy: rate of economic growth in percentage by economy and period
    Source: Estimation from Jorgenson and Vu (2007)
    This disparity is not a result of a coincidence, but rather the consequence of several interacting factors, which are given by the economic and political environment. The economic situation depends on the capabilities of an economy to produce valuable products and services efficiently. The general literature suggests that the key to accelerate economic growth is the creation of more productive labour2. Theoretically, the substantial source of the long-term growth rate of real per capita economic output is the increase of the rate of productivity growth that primarily arises from technological progress and innovation, knowledge and human capital accumulation, research and development activities (henceforth R&D), learning-by-doing processes, and spillover effects. However, the impact of these factors depends on the establishment of essential conditions that trigger processes for long-term growth, such as certain levels of physical and human capital, political rights and governmental regulations, competitive oriented market structures and appropriate infrastructure1. The enormous variety of capabilities of Information and Communication Technologies (henceforth ICT) has revolutionized growth opportunities that lower the operation efforts needed for establishing the foundation for sustainable growth and enormously facilitate enhanced productivity improvements afterwards.
    Figure 2: Total ICT investment worldwide by region (in millions of dollars)
    Source: Calculation based on WITSA (2006)
    As a result of the accelerated technological progress and permanent price declines of ICT since the mid-1990s, the last decade was marked by rapid diffusion of ICT throughout the world, especially all over the developed nations. ICT has gradually conquered many various parts of social life and economic processes, e.g. the mobile phone penetration rate averagely exceeds the 95 per cent point and the average worker and household in the developed world features at least one personal computer with access to the Internet, of which a considerable share even uses broadband and wireless access1.
    ICT’s potential has enforced the business world to substitute and modify conventional capital and labour. Though the concomitant slowdown in economic growth has hindered the euphoria, ICT investment and application have increased substantially in both developed and developing countries, but to lesser extent and lower level in developing regions, such as Latin America, Middle East, Africa and Eastern Europe (see Figure 2).
    Nevertheless, due to the relative high ICT investment and use, economic processes and trade are more and more influenced by the creation, dissemination, accumulation, processing and application of information and knowledge. ICT’s multidimensional capabilities facilitate extensive innovations in products and processes, and thus lead to a more productive exploitation of capital and labour. ICT’s wide scattered application allows new business models and management practices, new products embedding ICT, easier expansion to global markets and ICT-enabled emergence of new markets. Moreover, the impact is even more far-reaching through spillovers induced by ICT- based networking, and has been much increased by the Internet. Through the diffusion of ICT, transaction costs are reduced and facilitate more productive ways of interaction between businesses and division of labour worldwide. Furthermore, ICT allows an easier interchange of international innovators and dissemination of new technologies, and thus accelerates the invention and circulation of new ideas that in turn trigger further technological change. Due to these network effects the impact of ICT increasingly grows crossing the threshold of ICT uptake and becomes more important than ICT investment and production with regard to contribution to economic growth.
    The dramatic alteration of economic conditions by use of ICT challenges governmental regulation systems permanently. Considering the “World Summit on the Information Society” (WSIS) of the United Nations and various global governmental reformations towards ICT-based regulations confirms the importance of ICT and its wide recognition as an economic significant determinant. After the early over-ambitious believe in ICT as the panacea for economic development and growth, it has been finally realized that ICT is not the solution, but an effective tool for fostering economic growth that can make a significant contribution to more efficient growth processes. By now, “…no one has any doubt that ICT have had a significant impact on most countries in the world, especially in the ways of communication, working, and learning1 ”.
    With the arrival of the widely accepted technological revolution, economists have questioned the extent of ICT impact on economic growth. Several studies in the developed world have confirmed the significant contribution to the performance of a country’s economy. Measuring and justifying the economic impact of ICT on growth and productivity has been the subject of an intense investigation during the last decade. Examining the contribution of ICT to growth and productivity was initiated by studies of Oliner and Sichel (2000) and Jorgenson and Stiroh (1995, 1999). Mainly, this interest was stirred up by the extraordinary degree of continuously high economic growth rates that occurred in the United States between 1992 and 2004. After that, a series of studies followed analyzing individual countries and industrial sectors, such as recently Ark and Inklaar (2003, 2005), Ark and Piatkowski (2004), Piatkowski (2006), Jorgensons and Vu (2007), Bloom, Sadun and Reenen (2006), Crespi, Criscuolo and Haskel (2006), Eicher and Roehn (2007) and Stiroh and Botsch (2005) and find persuasive evidences for ICT’s significance for growth and productivity increases.
    The theoretical and empiric evidences suggest that ICT production and diffusion generates significant growth returns in both industrial and developing countries, but less in countries lacking in finance for ICT-related investment, skills in the labour, ICT- producing and service sector and an ICT-friendly policy environment. ICT has a far reaching multi-dimensional effect on determinants of growth variedly strong and time- varying. ICT affects through three occurring macroeconomic channels that imperatively require complementary efforts by industry and policy to stimulate the impact. The first channel widens directly the capital deepening by investment in ICT but surges growth only in the short-term, however, it is a prerequisite that establishes the base for the ICT usage. The second direct channel stimulates the Total Factor Productivity (henceforth TFP) growth in the ICT sector induced by accelerated technological advances. The latter two channels require appropriate high per worker capital to be triggered and the extent of impact is particularly strong in combination with a high stock of R&D activities and associated subsidies, international openness and reduction of regulatory barriers. The third more comprehensive channel impacts the overall TFP growth by ICT use and positive spillover effects that create TFP increases throughout the entire economy. The more ICT diffuses and is applied, the more network effects lead to cross firm integration and facilitate technological progress and innovations biased by extreme knowledge accumulation. Successful exploitation of ICT utilization requires complementary efforts in building up a high stock of human capital and reorganisation, such as changes in human resource management practices and organizational structures, for adopting new knowledge or technologies respectively.
    However, the macroeconomic differences in developing countries give reason to assume that the impact channels of ICT do not affect in the same extent and pace like in the developed world due to missing preconditions. The prime challenge now is to understand how ICT should be deployed properly under the prevailing conditions in developing economies to benefit from ICT. Unfortunately, most of the research on ICT’s impact has focused on developed countries, primarily due to reasons of statistical data availability and early awareness of ICT’s extent of potential, but nevertheless provide valuable conclusions for the magnitude and dynamic effects of ICT. However, recently a few have evaluated the potential of ICT in the developing world and examined the specific possibilities for economic growth, e.g. Waverman, Meschi and Fuss (2005), Vu (2005) and Ark and Piatkowski (2004), Piatkowski (2006) and Lee (2003). Apparently, the developing countries only partly succeed to benefit from ICT’s potential to boost their economic growth and thus even the digital divide within the developing world is expanding.
    Many developing countries are still far away from having fully exploited the benefits of ICT. But even though they are lagging behind with regards to the size of the ICT sector, integration of ICT in the service and manufacturing sector and an appropriate ICT environment, they would have lower costs and fewer risk of making errors identified by experiments and research. They have the opportunity to look overseas and directly adopt state-of-the-art technologies and Best Practice strategies for business and regulation strategies. However, the research still confirms the huge potential of ICT in the developing world. But these countries face a major obstacle in accumulating capital for increasing their level of per capita economic output. Since ICT tends to be only complementary tool to existing practices, the developing world needs to attain a certain level of conventional capital and public infrastructure, e.g. education, health services, roads, rather to substitute them. They have to understand that ICT enhances the traditional infrastructure and implementation strategies must be accompanied by international openness, less regulated business environment, higher competition, security and maintained solid financial and regulation system.
    The object of this work is to offer a contribution in the field of investigating the impact of ICT on the economic growth in developing economies. By examining an integrated summary of growth theory, ICT’s macroeconomic and empirical efficacy and corresponding implications, the work provides persuasive facts about ICT’s economic impact that are of special interest for developing economies holding a share of ICTproducing sector and for those which only use ICT.
    Figure 3: Structure and built-up of the paper
    Therefore, the paper surveys the contributions from the neoclassical and endogenous theories of growth in respect of ICT’s role and reviews empirical evidences for links between ICT and economic growth to conclude implications for the developing countries. Thereupon, chapter 2 of this investigation prepares the main sources of growth, investigates processes and associated growth-inducing determinants. Chapter 3 deals with determining the macroeconomic effect channels of ICT and their extent of contribution to growth derived from empiric studies. In the end of chapter 3, the paper discusses the relevant factors for triggering and fostering the contribution of ICT to growth. Chapter 4 derives ICT related implications from the findings of Chapter 2 and 3 on the base of a statistical analysis of the current state of ICT in developing countries. Special regard is paid to the question whether similar impacts as in the developed world can be expected in the different economic circumstances of the developing world and whether implications from the developed world require adjustments for the current environment of less industrialized economies (see Figure 3).
    2 ICT AND THE GROWTH THEORY
    This chapter investigates the role of ICT for economic growth through accelerating and reinforcing the surge of growth-inducing forces theoretically. Primarily, on the subject of this question it is imperative to determine the sources of growth and to examine the link between those and ICT as a technology and a sector. Particularly with regard to the arrived migration period to an Information Economy, this chapter incorporates potential ICT-amplifying growth-generating processes, such as ICT-related capital deepening, technological innovation, diffusion and adoption of ICT, knowledge and human capital accumulation, research and development activities, and spillover effects.
    This chapter is organized as follows. The next section 2.1 discusses the relevance of growth for an economy and clarifies the definition of the main object of this investigation that is the growth of the economic output. The main part of this chapter, section 2.2, looks into the issue of integrating ICT and associated enhanced growth- causing mechanisms into growth models, in particular, the neoclassical model and the newly appeared endogenous growth theory. The concluding section 2.3 discusses the theoretical implications.
    2.1 Measurement of Economic Growth
    Economic growth is defined as the change in percentage of the economic power of a region within a period compared to the prior1. The economic power is the market value of all final goods and services produced by an economy in a given period of time. The change is customarily measured as the annual percentage rate of increase in gross domestic product, or GDP. There is a distinction between real and nominal GPD. In addition to the calculation of the nominal GDP, the real GDP considers inflation- adjusted terms, in order to net off the effect of inflation on the price of the goods and services produced. This correction of inflation is made by deducting the rate of change of the price index from the rate of the economic growth. Hence, this concept is more meaningful, because hereby the growth of potential output is measured instead of mirroring increasing prices. However, the correct estimation of a price index has to consider qualitative-related price changes, which stand for growth rather than price increase. Terminologically, economic growth is also distinguished between extensive and intensive growth calculation. For the extensive calculation the increase of the GDP is considered solely without accounting the enlargement of per capita goods available for the economy’s population. Therefore, the determination of the intensive economic growth is often used by dividing the applied GDP by the number of population.
    A specific characteristic of economic growth is its exponential behaviour1. Over long periods of time, even small rates of annual growth can have large effects through compounding. A growth rate of 2.5% per annum will lead to a doubling of GDP within 28 years, whilst a growth rate of 8% per annum, experienced by some Asian countries, will lead to a doubling of GDP within 9 years. The world economy has experienced the crucial tiny difference in the rate of economic growth since 19952. The per capita growth rate went up one per cent point from 2.72 percent during 1989-1995 to 3.73 percent in 1995-2000 and after 2000 a higher growth was sustained at a rate of 3.75 percent. The significance of more rapid growth emphasises that per capita growth of 2.72 percent doubles world economic output by four times in a century, while 3.75 percent doubles output more than five times per century.
    The economic growth is often used as an indicator of the increase rate of the economy’s welfare, and growth rate of the real GDP per capita therefore is often considered as representing an increase in the average standard of living. However, a closer economic examination disagrees with this opinion. First of all, it does not provide any information regarding the distribution of the income in a country. Negative externalities from pollution consequences to economic growth are not yet taken into account. Real GDP ignores positive externalities that may result from services such as education or health care, and furthermore welfare-raising criteria like cost-free leisure activities. However, for the purposes of economic growth in the long run it tends to be a very good indicator. There is no other indicator in economics which is as universal or as widely accepted as the GDP.
    A reasonable comparison of the economic growth of at least two countries is not as easy as it seems. The level of GDP in different countries is compared by converting their value in national currency according to either the current exchange rates or the purchasing power parity exchange rate. The current exchange method uses the global current currency exchange rates. Though there are often strong fluctuations, this method offers a good indicator to compare the economies international purchasing power and relative economic strength. The purchasing power parity method indicates the domestic per capita purchasing power relative to the country’s GDP and local good prices. This method compensates the weakness of the currency in the world market and helps indicating the stand of living.
    Since there is no noteworthy local price difference of high technology goods, like ICT, and which is a traded good on international markets, the current exchange method advises a much better idea about the different countries’ purchasing power opportunities to invest in ICT. The here introduced varities of measurement of economic output are applied in the further work according to the relevant view in the particular context.
    2.2 Theories of Economic Growth
    In the beginning the classical economists like Smith, Ricardo, Ramsey and Schumpeter provided fundamental approaches to the growth theory1. The theory implicated the valuable conclusion that capital can not sustain growth indefinitely due to the diminishing marginal rate of productivity and its relation to the accumulation of physical and human capital. Also essential conclusions were found about the interplay between income per capita and growth rate of the population and mandatory effects of technological progress and the discovery of new productions methods. Afterwards, Harrod and Domar tried to combine the growth theory with the Keynesian analytic and declared capital as the only driving factor of growth and focused on cyclical fluctuations, instead of asking themselves about the determinants of growth2. Due to the hardly to find application in the literature and missing determinant of technological progress in the Harrod-Domar-Model, a further investigation in respect of ICTs impact is not meaningful.
    In the 1960s, growth theory consisted principally of the neoclassical model. The major contribution of Solow (1956) and Swan (1956) was a production function assuming constant return on scales, diminishing returns on capital and an exogenous technological explanation for per capita growth in the long-term. Over the past decades, seminal contribution by Romer (1990) and Aghion and Howitt (1992) led to new breakthroughs in the growth theory and the foundation of the endogenous growth theory that contains the endogenization of technological change in the model.
    The next section examines the neoclassical growth model by Solow (1956) and Swan (1956), which delivers supportive macroeconomic implications in regard to ICT’s impact. The section 2.2 reviews the contributions from the initial endogenous growth model by Romer (1990) and upgrades in order to characterize the interface through which the Information Age affects the economic growth. The following investigation on economic growth puts emphasis on examining the sources of growth and associated growth processes to make ICT relevant conclusions in section 2.3.
    2.2.1 NEO-CLASSICAL GROWTH MODEL
    The first attempts to model long-run growth analytically were in the 1960s. Growth theory consisted mainly of the neoclassical model developed by Solow (1956) and Swan (1956).
    The neoclassical theory applies a macroeconomic production function.1 The output depends on input as factors of production consisting of accumulation of capital and labour at a given time-dependent technology variable representing the technological progress. Capital accumulation is in turn determined by the savings rate (the proportion of output used to create more capital rather than being consumed) and the rate of capital depreciation. The ratio between saving and consumption can be stimulated by investment-inducing measures by policy or subsidies. The model assumes that countries use their resources efficiently, that there are diminishing returns2 to capital and labour increases and constant returns to scale.
    Subsequently, the neo-classical model makes several important predictions.1 First, beginning at a low level of capital per capita, the increase of per worker capital creates economic growth in the short-run, since the greater their equipment with capital, the more productive is the labour. Additionally, the meaning of capital can be usefully broadened to include education, training, experience and health consolidated in human capital. The ratio of human to physical capital in an economy tends to settle down to a steady-state. Hence, an economy with a high initial ratio of human to physical capital ought to grow rapidly, because physical capital can be exploited more efficiently and is more amenable than human capital to rapid expansion. This would imply that movement of capital to countries lagging human capital, e.g. transfer and adoption of new technologies across economies, is only effective by a complementary investment in an appropriate endowment and training of labour.
    Furthermore, the neoclassical model’s central idea of the convergence, that is derived from the diminishing returns to capital, predicts that the per capita economic output of poorer countries grows faster, however, assuming that all economies were intrinsically the same, except their starting capital intensities. The lower the starting level of real per capita GDP in relation to its long-run or steady-state position, the higher is the predicted growth rate. This feature of the model received strong support from empirical work in the recent years, i.e. for Japan or Republic of Korea. However, whether convergence occurs or not depends on the region’s characteristics.2 Due to the fact that characteristics may vary across economies in regard of for instance government policy, levels of human capital, propensities to save and have children, willingness to work and access to technology, the convergence rule applies conditionally.
    A further prediction of the Solow-Swan-Modell is that the long-run per capita growth is supposed to cease eventually in absence of continuing improvements of the prevailing technology, which causes productivity increases and avoids the diminishing of the return to capital.3 Economies tend to converge to a constant steady-state of per worker output at which no new increase in capital per unit of effective labour will create economic growth. Thus, all capital deepening associated mechanisms affect only the steady-state level of economic output, but not the long-run growth rate. In 1960s, economists recognized this deficiency in the model and argued that the discovery of new ideas was the only way to avoid diminishing returns. Subsequently, the model was patched up by assuming that technological progress occurred in an unexplained manner. According to this, the long-run per capita growth rate is exogenously determined by productivity increases via technological progress solely1. But the assumption that technological progress is exogenous would mean that across all countries exist the same technological opportunities and should converge to the same steady-state per capita growth in the long-run. Nevertheless, the Solow-Swan-Model gives reason to assume that in the very long-run capital accumulation is less significant than technological innovation. Accordingly, assuming the short-run rate of growth slowed down to a steady state due to diminishing returns, the per capita output is growing entirely at the rate of technological progress in the steady-state. This effect of growth is also known as the rate of productivity growth and is measured as the TFP (Total Factor Productivity)2.
    The neoclassical model provides several vague conclusions for the significance of the examined technological innovation ICT for growth.
    – ICT-based capital deepening is relevant to endow the labour with appropriate factor of production that allows the labour to work efficient at given conditions in the short-run. Nonetheless, the marginal product of the ICT capital diminishes in the long-run.
    – ICT transfer across economies is only effective if it is accompanied by corresponding ICT-related training and education that higher the stock of human capital for efficient adoption. Technology and knowledge exchange between countries with high educated people, e.g. developed countries, diffuses faster and is easier adopted.
    – The convergence prediction suggests that ICT capital deepening in economies with a low level of per capita economic output should initially grow at high rates, e.g. as it happened in some ICT exporting developing economies like Taiwan, Singapore, Malaysia and Thailand1.
    – The conclusion that technological innovation is the driving force for growth in the long-run implies that such an innovation-triggering technology like ICT is supposed to boost the long-run economy growth enormously.
    Unfortunately, the investigation of ICT impact by the neoclassical model encounters the problem concering the unexplained manner of technological change. For bridging the blocking situation, it is necessary to investigate the endogenous growth theory in the next section in order to find stylized factors on the ICT’s impact.
    2.2.2 ENDOGENOUS GROWTH THEORY
    Due to the urge to explain divergences in growth of countries in the long-term the theory of growth reappeared as the so-called endogenous growth theory in the last decades. On the foundation of the seminal approaches from Romer (1990) and Aghion and Howitt (1992), recently a number of growth models were set up that focus on endogenous growth processes stemming from the usage of ICT. Vourvachaki (2006) determines ICT-enabled spillovers through the use of ICT as the main driver of growth. For Venturini (2007) learning-by-doing processes facilitated by ICT utilisation are the major determinants. Bianco and Van Zon (2005) identified embodied technological change initiated by technological advances in the ICT as mainly responsible for growth and Chen and Kee (2005) show a link between the growth rate of human capital and economic growth via knowledge accumulation.
    In general, the endogenous growth theory starts the attempt to tie up to the unsatisfactory shortcoming of the exogenous explanation of long-run growth in the neo- classical model. By building macroeconomic models out of microeconomic foundations, the growth models developed by Romer (1990) and Aghion and Howitt (1992) mainly provide an approach, whereby growth is driven by technological change that is stressed by an innovations process based on human capital and R&D. In contrast to the neoclassical model, the seminal contribution is that the growth of technological progress is model-endogenously explained and involves growth-generating processes that prevent diminishing marginal products of physical and human capital.
    The process of technological change in the endogenous growth model bases on three premises.1 The first premise states that technological advance is the outcome of the creation of new knowledge that enables a higher output at a given input in the production process.
    The second premise focuses on that, the model considers new knowledge either as a result of economic decisions made by profit-maximizing agents2 to invest in purposive R&D efforts, or an occurrence from external effects, such from random unintended fall- outs by other activities or knowledge spillovers. The latter referring to knowledge spillovers was already described by Arrow and Sheshinski as a mechanism called learning-by-doing3, where by-product discoveries immediately spill over to the entire economy4.
    In contrast to that, in accordance to the third premise, the endogenous growth theory extinguishes that knowledge only diffuses restrictedly, due to the fact that it possesses some characteristics of a public good5. Even through it is non-rival6, knowledge is only partially excludable7. Non-rivalry implies that once knowledge has been created it can be applied by everyone as often as desired and therefore increases (as a factor of production) the returns to scale. However, partial excludability means that the acquirement of knowledge is associated with effort. Partial excludability implies only a costly and gradually dissemination throughout the economy. In addition, it is significant to have in mind the second premise that leads regulation systems to maintain the highest level of excludability of knowledge by means of e.g. patents and Intellectual Property Rights (IPR) to create incentives for R&D efforts. In spite of that, the model suggests that an enduring protection of knowledge creates incessant monopolistic positions that conflict with the theory of perfect competition and, furthermore, hinders innovators to access and use knowledge for further innovation and technological progress. Thus, the Romer-Model loosens the assumption of perfect competition and allows a degree of temporal ex-post monopoly power1. Only by that R&D spending, which underlies the creation of knowledge, receives the appropriate compensation and reward2. After the expiration of the temporal protection, imitators follow the innovative pioneers, having the advantage of saving own R&D efforts, and the perfect competition is recovered.
    Still, the companies and innovators face the obstacle of the partial excludability of knowledge. The following remarks based on the third premise give an understanding of the main determinant of the rate of growth3. It helps to have in mind how new knowledge or ideas arise. The majority of innovations results from intended R&D activities that provide designs for productivity improvements in the production process, which finally lead to growth. However, knowledge and the process of discovery are closely tied to a human body. Subsequently, economic growth of an economy depends indirectly via an innovation process on the stock of human capital and the ability to accumulate knowledge, e.g. size of the R&D sector and educated researchers. In turn, the creation of knowledge requires that the innovator can access and conceive the up-to- date knowledge. Therefore, a sufficient degree of human capital in the R&D sector must be available. Human capital is also significant for the adoption of knowledge in the labour of companies. The utilisation of new technologies for productivity increases is associated with more or less corresponding adaptation efforts, e.g. in education, business organisation and policy regulations, that allow the efficient operation. By the end, indeed, these latter points of discussion give reason to assume that capital deepening for endowing and educating the innovators is the precondition for the activation of the knowledge creation and again capital deepening related to the knowledge is indispensable in the industry to transform the knowledge into technologies and maintain the labour skills for adoption abilities.
    NO 2: Discuss the relevance of excel in today’s academic and socioeconomic world.
    What is Excel?
    Excel is a spreadsheet application
    What is Excel used for?
    Excel is typically used to organize data and perform financial analysis. It is used across all business functions and at companies from small to large.
    The main uses of Excel include:
    1) Data entry
    2) Data management
    3) Accounting
    4) Financial analysis
    5) Charting and graphing
    6) Programming
    7) Time management
    8) Task management
    9) Financial modeling
    10) Customer relationship management (CRM)
    11) Almost anything that needs to be organized!

    CORE IMPORTANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD.

    1. Using Excel can enhance understanding of content within a grahic presentation of the information; it provides a visual representation of data that makes it easier to analyze.
    2. Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.
    3. You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.
    4. Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent.
    5. Excel’s ability to dynamically generate charts and graphs in seconds makes it easy to quickly demonstrate relationships between numbers.
    6. As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data. As one teacher stated, “For years it took me three to five days to teach kids the use a pie chart, bar graph, and/or a line graph to accurately represent information. Now with Excel, it makes it so much easier because the kids are far more motivated to use the application to manipulate data and to chart any information.”
    7. One of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over time. For example, you can compare data collected by a group of collaborating teachers within one school, one county, or around the world.

  17. Avatar NNABUIKE CHISOM FAVOUR says:

    Name: NNABUIKE CHISOM FAVOUR
    Reg number: 2019/245685
    Email address: chisom.nnabuike.245685@unn.edu.ng
    1. Smart products can be produced through ICT
    2. It attracts investors and innovators to increase efficiency in the economic growth.
    3.ICT provides new job opportunities for an expansible economic growth.
    4. It also reduces operating costs of an economy.

    Excel can be important to today’s academic and socioeconomic society in the following ways:
    1. Excel can be used for the projection of graphs and charts for effective academic learning.
    2. It can used for data organisation and manipulation for economic purposes.
    3. Excel helps to solve complex functions in programming.
    The knowledge of Excel can help one to avert some economic errors and efficiency in the socioeconomic society.

  18. Avatar Asogwa Ijeoma Agatha. 2019/251105 says:

    Answer
    Number 1;
    ICT IN ECONOMICS ;
    ICT packages such as ‘WINECON’ makes teaching Economics easier for the teacher and gamifies the learning experience for the students.
    Information and Communication Technologies (ICT) software applications like Excel & R, make it easy to acquire skills required for effective economic data analysis and evaluation.
    ICT technology like high-speed internet connection helps economics students to connect to the internet in order research complex economic concepts, principles and theories; as well as understand their real world applications in other climes.

    1b; ICT IN ECONOMICS DEVELOPMENT
    ICT basically makes it easy to access and analyse information. With regard to economic growth, information crucial to the supply chain, can be accessed at reduced costs. Such easy access to data greatly facilitates entrepreneurial activities of a country, thus increasing the growth and productivity.

    The production sector becomes more efficient as a labour force is no longer comprised solely of humans. Human workforce, thus complimented by technology becomes faster, longer and much more diligent than a solely human staff.
    * E-Market/E-commerce

    Number 2;
    Microsoft Excel formulas, data processing and visualization tools can help academicians to perform complex mathematical, logical and financial calculations faster with accuracy.
    Microsoft Excel contains tools and features which assist teachers in tasks such as collation of semester results and also makes it easier for them in future to handle and understand data trends and patterns.

    2b; Using Excel has almost no limits for applications in businesses.
    Planning & Budgeting: Excel spreadsheet is useful to business in the area of planning and budgeting. It is also used for crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.

    Marketing and Product Management
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.

    Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.

    Human Resources Planning:
    Excel can be used to manage payroll and employee information for small and medium enterprises(SMEs).
    You can calculate customer discounts based on monthly purchase volume by product.
    Business owners can summarize customer revenue by product to find areas where to build a stronger customer relationships.

  19. Avatar OSAYANDE PROSPER OSARUMWENSE says:

    Name: OSAYANDE PROSPER OSARUMWENSE
    REG NO: 2019/247547
    EMAIL: osayandeprosper5@gmail.com

    ANSWERS
    1.
    The worldwide rapid progress of ICT in the last three decades has attracted increasing attention
    among many economists and researchers who have focused on studying the impact of ICT diffusion
    on the economic growth of developed and developing economies.
    Prominent contemporary theories such as neo-Schumpeterian theories (Schumpeter 1934;
    Pyka and Andersen 2012) and neoclassical growth theory (Solow 1956) have highlighted the existence
    of a significant positive relationship between ICT and economic growth. These theories suggest that
    ICT enters as an input into the economic supply in the form of capital and causes the improvement
    of the production process through deepening capital and making advancements in technology and
    labor force quality. As a result, ICT creates added value at the firm level and at the sectoral level
    and therefore leads to the improvement of productivity and economic growth at the country level
    (Quah 2002; Aghaei and Rezagholizadeh 2017).
    While theoretical works have shown a positive effect of ICT on economic growth, several
    empirical studies on this relationship have produced mixed results. On the one hand, numerous
    studies have confirmed the presence of a significant positive impact of ICT diffusion on economic
    growth. Early cross-country studies focused on the effect of telecommunication technologies
    such as fixed-line telephones on economic growth in developed countries. Hardy (1980), using
    data on 60 countries over the period 1968–1976; Roller and Waverman (2001), using data on21 OECD (Organisation for Economic Co-operation and Development) countries over a 20-year period
    (1970–1990); and Madden and Savage (1998), examining a sample of 27 Central and Eastern European
    countries during the period 1990–1995, among others, revealed a strong positive relationship between
    telecommunication infrastructure investments and economic growth. Some recent studies have
    confirmed the strong contribution of newer telecommunication technologies such as mobile phones,
    personal computers, and the Internet to the economic growth of many countries around the world,
    especially developed countries. (Inklaar et al. 2005; Koutroumpis 2009; Gruber and Koutroumpis 2010;
    Vu 2011).
    Among the cross-country studies that have focused on developing countries, an increasing
    number of empirical works have argued that ICT diffusion and investment positively and significantly
    affects economic growth in these countries. Using a wide range of ICT indicators, including mobile
    phone and fixed telephone penetration rates and the cost of local calls, Andrianaivo and Kpodar (2011)
    confirmed that ICT contributed significantly to the economic growth of African countries over the
    period 1988–2007.
    Similarly, Lee et al.
    (2012) examined the relationship between economic growth and
    telecommunication infrastructure investments such as land line telephony and mobile phones in
    the SSA region. They applied a linear GMM estimator on data from 44 Sub-Saharan countries
    over the period 1975–2006. The results confirmed that mobile phone expansion is an important
    determinant of the rate of economic growth in Sub-Saharan Africa. Focusing on data from a cross
    section of 17 MENA countries, Sassi and Goaied (2013) found a positive and statistically significant
    impact of ICT diffusion measured by three indicators, namely, mobile phone, fixed-line telephone,
    and Internet, on economic growth between 1960 and 2009. Using panel cointegration techniques,
    Pradhan et al. (2015) investigated the nature of causal relationships between ICT infrastructure,
    financial development, and economic growth in 21 Asian countries over the period 2001–2012.
    They concluded that both ICT infrastructure and financial development matter in the determination of
    the long-run economic growth of Asian countries.

    2.WHAT IS EXCEL?
    ——————-

    Excel: Is a software program by Microsoft that uses spreadsheets to organize numbers and data with formulas and functions. Excel analysis is ubiquitous …

    WHY MICROSOFT EXCEL?
    —————————-

    Ms. Excel is used very widely nowadays by everyone because it is very helpful and it helps in saving a lot of time.

    It is being used for so many years and it gets upgraded every year with new features. The most impressive thing about MS Excel is that it can be used anywhere for any kind of work and also academics and socio economic activities

    For instance, it is used for statistics analysis,
    billing, data management in organizations, analysis of various kinds, inventory, finance, business tasks, complex calculations, comprises of formulas, etc.

    One can even do mathematical calculations using this and can also store important data in it in the form of charts or spreadsheets.

    REASON YOU STILL NEED TO LEARN EXCEL.
    ————————————————
    1. You Can Get Your Work Done Faster
    2. Give Yourself More Hiring Options
    3. Excel Helps Solve Business Problems
    4. Excel Skills Are Useful In Any Profession
    5. Helps in tackling academic tasks

    RELEVANCE OF EXCEL IN TODAY’S ACADEMIC & SOCIOECONOMIC WORLD
    —————————————————-

    Integrating technology in the classroom is becoming more and more prevalent in many schools across the world. Hence through use of Excel it turns your school staff into Excel Professionals. Excel is used to get to grips with the performance of the learners, educators and the school. It helps automate manual activities hence being very efficient and consistent.
    Serhat Aydi.n90Microsoft EXCEL is a versatile software which offers a wide range of applications ranging from data management to statistical analysis (Gomes, Passeri and de AlbergariaBarbosa, 2006). Ms EXCEL provides tools for simple statistical analysis, such as t-tests, F-test, correlation and regression (Slezák, Bokes, Námer, and Waczulíková, 2014).Duller (2008) believes that Excel can be used to teach statistics in many ways. By using Excel in teaching statistics, one can use simulations to teach distributions (Carlberg,2014; Doane, 2004) or to demonstrate the statistical power of an experiment and to explore experimental variability (Horgan, 1999). Bartz (2007) showed how to use Excel to calculate and illustrate probabilities. In some studies Excel was used to illustratecombinatorial ideas (K¸hleitner, 2007; Borovcnik, 2007).More importantly than the variety in the ways Excel can be used in teaching statistics,statistical softwares such as EXCEL have the capacity to promote conceptual learning in statistics (Carlberg, 2014). Price and Zhang (2007) used Excel to enhance under-standing important ideas in statistics and Nash and Quon (1996) implemented Excel to develop statistical thinking. Newfeld (2016) used Excel assignments to quickly cementin the studentsí minds both the applicability of statistics course materials in the real world as well as their own ability to master it. In a series of studies, Hunt (2003, 2005,and 2007) used Excel to prepare individualized tasks for students. Therefore, it can be seen that Excel can be used in teaching several statistics topics in a variety of ways and for developing various skills and attaining various practical benefits.Despite all these benefits, Duller (2008) states that teaching statistics is a big challenge and teaching it with Excel is even a bigger one. However, he adds that one has tovaccept to use it because the other special softwares are either expensive or requires technical expertise such as using command line interfaces (Duller, 2008). In other words,he finds Excel the easiest and most accessible ñ one might prefer to call it sustainable ñsoftware in teaching statistics. Considering that one in seven people on the planet (Micro-soft, 2016) uses Excel and in most cases all university students possess that software, it would be wise to attempt to use it in teaching statistics in teacher education.

  20. Avatar Ginikandu Ifechukwu joseph-mary says:

    QUESTION 1:
    Science, technology and innovation have become key factors contributing to economic growth in both advanced and developing economies. In the knowledge economy, information circulates at the international level through trade in goods and services, direct investment and technology flows, and the movement of people. Information and communication technologies have been at the heart of economic changes for more than a decade. ICT sector plays an important role, notably by contributing to rapid technological progress and productivity growth. Firms use ICTs to organize transnational networks in response to international competition and the increasing need for strategic interaction. As a result, multinational firms are a primary vehicle of the everspreading process of globalization. New technologies and their implementation in productive activities are changing the economic structure and contributing to productivity increases in OECD economies. Economic competitiveness depends on productivity level and in the knowledge economy, ICT sectors determine the productivity level. As a result , we can say that the power of economic competitiveness of a country depends on the productivity of its ICT sector.
    QUESTION 2:
    Among the computer programs which exist, Microsoft Excel is one of the most important because of the key role it plays in many sectors. It is the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Many businesses, personal and institutional enterprises have embraced the use of Excel because of its utility and the ability to serve as a visual basic for different applications. The importance of MS Excel can be seen in the different departmental units it is used as follows.

    1. Graphing
    This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in more visual way. Since the formulae and procedures are incorporated in the package, it is always an easy and time saving to create charts. Unlike other graphing programs, Excel is much more cost effective as it plays many different roles, and can be used for so many different things.

    2. Data organisation
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this buy ativan 2.5 mg effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.

    3. Programming
    When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming.

    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

  21. Avatar Osakwe Chinaza somtochukwu says:

    NAME: OSAKWE CHINASA SOMTOCHUKWU
    DEPARTMENT: ECONOMICS.
    REG. NUMBER: 2019/249519

    SOLUTIONS
    1. Words cannot explain the importance of ICT to the economy. Some multifaceted roles of ICT are as follows:
    • ICT can improve the efficiency of an economy and increase productivity in different ways and also improves the efficiency of resource allocation, reducing transaction costs and improve technology which leads to fast and rapid production.
    • ICT enables economic growth by broadening the reach of technologies such as high speed internet, mobile broad land and computing, expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    • ICT encourages collaboration by bringing people together where they can talk and discuss what they are doing for their work and this in turn, opens up avenues for communication thus, leading to language development which in turn reduces language barrier thereby encouraging trade.
    2.The importance of Microsoft excel can be seen in different departmental units as follows:
    • This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in many different ways since the formulas and procedures are incorporated in the package.
    • Programming: When it comes to programming, yo find out that Microsoft excel supports almost all programming language applications used in creating Marcos. This makes it easy to solve complex functions thus, leading to efficiency in programming, for fast, correct data organization, programming and graphing.
    The usefulness of excel cannot be overlooked in different aspect of the economy and in academic field suc as economics, mathematics and others. Therefore, it is important for students to have a basic knowledge of Excel.

  22. Avatar OKHUEIGBE CHARITY OMONYE says:

    OKHUEIGBE CHARITY OMONYE
    2019/244711

    1.ICT
    ICT known as information and communication technology is the infrastructure and component that enables modern computing.it is leveraged for economic, societal and interpersonal transactions. It economic advantages are found both within the ICT market as well as in the larger areas of business and society as a whole.
    The advancement of ICT capabilities has made the development and delivery of various technologies cheaper for ICT vendors and their customers while also providing new market opportunities. Acess to information is cheaper and economically viable, distance has become irrelevant in business transaction and dealings using email and international World Wide Web therefore enables business and clients to communicate effectively.

    2. a.Excel helps in planning an event and to track the RSVP lists and costs
    b.it provides a visual representation of data that makes it easier to analyze
    c. Excel can easily make your spreadsheet to webpages
    d. In businesses it creates revenue growth models for new products based on new customer forecasts
    e. It reduces the difficulty of putting data and allows easy interpretation. In budget creation for products, you can list expenses categories in the spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.

  23. Avatar Chibueze Manna Chioma says:

    NAME: Chibueze Manna Chioma

    REG.NO: 2019/244094

    DEPARTMENT: Economics

    ASSIGNMENT
     
    1. The role of ICT in economic growth and development can never be overemphasized.  ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development.

    2. Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss theppppppI relevance of excel in today’s academic and socioeconomic world.

    SOLUTION
    1. ROLE OF ICT IN ECONOMIC GROWTH
     ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resource.
    1. ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    2. The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    3. When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    4. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    5. ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.

    2. RELEVANCE OF EXCEL IN ACADEMIC AND THE SOCIO-ECONOMIC

    In the academic world;
    Excel is a useful tool for teaching concepts in many areas; ranging from mathematics to social
    studies including algebra
    problem solving. Excel has
    been used for decades as a pedagogical aid, as a skill building tool, as a platform to build
    teaching materials and to learn difficult problems which are otherwise impossible to learn in
    any environment.
    1. You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel . You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    2. Excel offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    3. Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation.
    4. Excel creates for faster, more accurate calculations. With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors.
    2. In the socio-economic world;
    Excel can be used for budgeting, accounting for expenditure and writing
    correspondences hence reducing bulky paper work.
    1. The most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    2. The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.
    3. Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately.
    4. If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and diagrams.
    5. Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.
    6. Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  24. Avatar Obasi Sarah Chinonso says:

    Number 1
    The Fundamental Roles of ICT
    ICT promotes development across many dimensions. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive.Unbound from the structures of the PTT(Pist, Telephone, and Telegraph) days, ICT has become the foundation of every section of every economy in the world including Nigera, explicitly inferred that Information and communication technologies: (ICT) has been able to:

    • Reduce transaction costs and thereby improve productivity.
    • Offer immediate connectivity – voice data, visual- improving efficiency, transparency, and accuracy. ICT has changed the way in which we communicate with each other, how we find needed information, work, conduct business interact with government agencies and how we manage our social life.
    • Substitute for other, more expensive means of communicating and transacting, such as physical travel.
    • Increase choice in the market place and provide access to otherwise unavailable goods and services.
    • Widen the geographic scope of potential markets.
    • Channel knowledge and information of all kinds.
    Information Communication Technology(ICT) are crucial to reducing poverty, improving access to health and education services and creating new sources of income and employment for the poor. Being able to access and use ICT has become a major factor in driving competitiveness economic growth and development.
    At the level of the firm, World Bank surveys of approximately 50 developing countries suggest that “firm using ICT see faster sales growth, higher productivity, and faster employment growth”.
    It has been commonly accepted and proven that information and communication technology (ICT) is the engine of the 21st century and beyond; as it will chart the economic, religious, cultural, legal and social life of nations, particularly that of developing countries. ICT has impacted on different sectors of the Nigerian economy. The application of ICT has emerged as the most radical development of the 21st century.
    ICT provides economic opportunities to both urban and rural populations. One common contribution is that it increases productivity and makes the market work more efficiently, although the magnitude of the impact on economic growth is likely to be different. The fact that virtually all new mobile customers in the coming years will be in developing countries, and more specifically in rural areas, means that the ICT platform is reaching population with low levels of income and literacy. As a result, ICT is becoming the largest distribution platform of providing public and private services to millions of people in rural and poor areas. Market information, financial services, education and health services had largely been unavailable in those areas in the past due to lack of connectivity of any kind.

    Number 2
    Number 2
    RELEVANCE OF EXCEL IN TODAY’S ACADEMIC WORLD
    Microsoft Excel is an extremely important tool, and it finds a role in almost all fields of work these days. To sum up, the broad benefits of learning Excel for students include faster and more accurate decision making, quick calculations, seamless data visualization, and a lot more.
    Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations — there’s a lot that Excel offers to its users.
    With a working knowledge of MS Excel, you’ll be able to organise and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do. Excel has, over the years, grown to become the skill that manifolds increase one’s chances of securing a job. If you’re a fresher with knowledge of Excel, you can start your career as an analyst. Further, if you’re aiming to work in the business sector, you’ll definitely need to ace Excel in order to manage finances, human resources, and inventory.
    All in all, MS Excel is a pretty nifty tool — one that has empowered students for years and continues to do so. Let’s look at 5 reasons for Excel being such an important tool in the toolkit of students:
    1. Improved time management
    If you’re looking to successfully own and run a business, or even work in a corporate, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy.
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel.
    2. Holistic look at the data
    When you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.
    3. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    4. Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    5. Data visualization techniques and ideas
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.
    In the form of pie charts, bar charts, histograms, and more, you can display all your data, findings, and future patterns in a visually attractive manner. In doing so, you’ll ensure that everybody in your organization — from marketing teams to sales teams, from engineers to higher management — is on the same page in terms for all the data, predictions, and decisions.
    RELEVANCE OF EXCEL IN TODAY’S SOCIO-ECONOMIC WORLD
    Excel remains relevant till date because it’s part of a larger big data ecosystem. Many businesses continue to emphasize on the importance of excel skills because it remains as an intelligent as an intelligent way to extract actionable insight. Revenue patterns operations, marketing trends and more can be analyzed through the excel spreadsheet but the real advantage is on the process.Microsoft (NASDAQ: MSFT) Excel was released in 1985 and has grown to become arguably the most important computer program in workplaces around the world. In business, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists.
    Finance and Accounting
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modelling in minutes with excel.
    Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.
    Marketing and Product Management
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.
    Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
    Human Resources Planning
    While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel llows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level. HR professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.

  25. No
    INCREASE NATIONAL INCOME: ICT have played a great role in Economics and Economic Development. By the help of ICT, it is easier to access services which in turn causes capital flight into the country which is able to harness its power. For example, the Chinese have been able to dominate the world market through the e-commerce platform which allows online sale of goods and services. Today, one can be in Nigeria and buy goods from China without having to undergo the stress of traveling to China. As this is done, it brings in capital into the Chinese economy and enables economic development and increase in their standing of living.
    DEFENSE: It is said that information is power. Just like Usama Binladin of Afghanistan became powerful by the aid of ICT and recked havoc to the US and the US becoming the number one because of their strong technological prowess. With the aid of ICT, US have been able to defend the lives of its citizens and have enough manpower for economic activity. Also, due to this security, people wish to travel there invest there knowing that it will be secured unlike some African countries.
    EFFICIENT PRODUCTION: Today, in many developed country, artificial intelligence have been in place and this results to increase in production at a leaser cost. They perform perform some jobs which can be done by human. Since these object don’t get tired, the result is that they can work as many hours as desired. Also, they are not being paid hence, saves money for the manager and encourage massive investment which in turn bring economic development.

  26. Avatar Ugwu kaosisochukwu immaculeta says:

    UGWU KAOSISOCHUKWU IMMACULETA
    2019/241226
    ECONOMICS

    1.
    Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world. It plays a vital role in the development of countries even the day to day affairs of every individual is affected as the use of ICT has brought about a better and more convenient way in which one can go about their affairs. So how has ICT created a better and more convenient life at business and pleasure? Some of the transformational aspects are; Swift and accurate information process, Superior communication, Economy, Job creation, Learning etc. Other roles of ICT in economic development are
    A. Improves the economy as a whole: It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a countrys goods and services. ICTs also have a positive impact on a countrys governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information.
    B. Poverty reduction: As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction. Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient delivering economic growth.
    C. Creates revenue: Setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth and development of a nation. Then, there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth as well as its development. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. We are in the midst of a technological revolution in which AI, 3D printing, virtual reality and other technologies are converging. No industry and economy on the planet will be able to progress without it. Considering the undeniable importance of ICT for economic growth, policymakers would do well to build an environment that helps government and private entities reap the benefits by removing the barriers affecting demand.

    2.
    Though there are many programs and software that can be used the relevance of Excel to an economist and to economic development is still a necessity as Excel is easy to use, less complex and most importantly versatile in the sense that it can be used alongside other programs. It also plays a vital role in Finance and Accounting, Marketing and Product Management, Human Resources Planning. The importance of MS Excel can be seen in the different departmental units it is used for graphing, data organization, programming and many more.
    Among the many computer programs which exist, Microsoft Excel is one of the most important because of the key role it plays in many sectors. It is the most used spreadsheet program in many business activities, classwork and even personal data organisation. In business, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwidewhether for analyzing stocks or issuers, budgeting, or organizing client sales lists.
    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency and efficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

  27. Avatar Ogaeme Onyedikachi Lovedey says:

    Ogaeme Onyedikachi Lovedey
    Economics department
    2019/251299.

    The multifaceted roles of ICT in economics and economic development are;
    a). It enables easy access to information
    b). It create jobs opportunities
    c). It helps saves time; as things that would have taken an hour manually, can be done under twenty minutes with technology.
    d). ICT also helps in communication. ICT has turned the word into a global village, and communication can be done easily.
    e). It makes movement and activities easier.

    ICT plays a very large role in the economic world.

    Excel is a spreadsheet application software program written and distributed by Microsoft for Windows, Android, iOS, and Marcos. It features calculation or computation capabilities, graphing tool and pivot tables.
    It relevance in the academic world are; it helps to sure visit informations like student biodata and results, teachers computed names and so on. It helps students by reducing the difficulty of plotting data and asked students a mean of interpreting data, students can do and learn the fastest way to do calculation with accuracy. Excel helps build strong analytical thing e.t.c.
    Excel relevance in the socio-economic world are; Excel helps in financial accounting that is, keeping records for every financial transactions, it helps in thee storage of the name of workers. Excel can also be used for budgeting as it helps business in calculations.

    Excel and is a vital tool even in the world at large that it can’t be overemphasized

  28. Avatar Opara Princess Adanna says:

    Role of ICT in Economics and Economic Development.
    Science, technology and innovation have become key factors contributing to economic growth in both advanced and developing economies. In the knowledge economy, information circulates at the international level through trade in goods and services, direct investment and technology flows, and the movement of people. Information and communication technologies (ICT) have been at the heart of economic changes for more than a decade. ICT sector plays an important role, notably by contributing to rapid technological progress and productivity growth. Major roles of ICT in Economics and Economic Development are;
    1. Direct job creation
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products. In Nigeria, most companies are not incorporating the use of ICT in their operations and digitalizing their production process.
    2. Contribution to GDP growth
    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.
    3. Emergence of new services and industries
    Numerous public services have become available online and through mobile phones. The transition to cloud computing is one of the key trends for modernization. The government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses. ICT has enabled the emergence of a completely new sector: the app industry. Research shows that Facebook apps alone created over 182,000 jobs in 2011, and that the aggregate value of the Facebook app economy exceeds $$12 billion.
    4. Workforce transformation

    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
    5. Business innovation
    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competingfor market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.
    B. Relevance of Excel in Today’s Academics and Socioeconomic World
    1. Improved time management
    If you’re looking to successfully own and run a business, or even work in a corporate, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy.
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    2. Holistic look at the data
    When you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.
    3. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    4. Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    If even before you’ve joined a corporate, you’re good with finances management, and using Excel to perform analytics, you’ll be an asset for the company you go to. Further, chances are the organization you’ll enter already uses Excel or some similar software. So, with your working knowledge, you’ll be all set to leave your mark in the professional world.
    5. Data visualization techniques and ideas
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.
    In the form of pie charts, bar charts, histograms, and more, you can display all your data, findings, and future patterns in a visually attractive manner. In doing so, you’ll ensure that everybody in your organization — from marketing teams to sales teams, from engineers to higher management — is on the same page in terms for all the data, predictions, and decisions.
    There are many more sophisticated tools as well, to perform better and higher-level data visualization. However, for students, it’s crucial to know the visualization techniques using Excel to have a good headstart in their career. For instance, students pursuing B.Com or M.Com know how to create demand and supply curves, they learned how to predict the future based on data, how to calculate net profit. All of this can be easily replicated in Excel for better and easier understanding.

  29. Avatar OGBONNA CHIJIOKE MICHAEL says:

    OGBONNA CHIJIOKE MICHAEL
    2019/244473
    1) The Multifaceted Role of ICT in Economics and Economic Development are;
    I. ICT sector plays an important role notably by contributing to rapid technological progress and productivity growth. Firms use ICTs to organize transnational networks in response to international competition and the increasing need for strategic interaction. As a result, multinational firms are primary vehicle of the overspreading process of globalization. New technologies and their implementation in productive activities are changing in n the economic structure and contributing to productivity leading to economic development.
    ii) ICTs helps service firms to introduce new business models, develop new application, improve and re- invent business processes, enhance customer services and raise efficiency throughout the value chain. Thus, leading the organization to be more productive thereby spurring economic growth and helping firms to be more competitive.
    III) ICT helps in proper circulation and dissemination of information. The purpose of ICT helps one to be aware about the happenings in na geographical area. Information circulate at all levels in a country through trade in goods and services, direct investment and technology flows and the movement of people hence, has helped in economic developmentt of a country.
    iv)Improved healthcare: Tele-medicines, electronic health records and health grids have made quick inroads make public health both easily accessible and affordable across distances. This has been especially true in the post-Covid-19 era where the entire range of services had to be revisited given the present and clear danger of infections. While ICT had already enabled improved healthcare, the virtual healthcare applications have gone a long way in connecting people to do the needful to look after their individual health. This is likely to grow further. STL Partners predict that 5G-enabled use cases globally could enable healthcare professionals to treat more than 850 million extra outpatients per year in 2030, while also making available more than 4 million extra bed days for use in hospitals.
    v) ICT helps in the creation of employment opportunities. In order for any country to survive, it’s citizens must have a paid employment, and its government must be able to generate revenue to provide services. Economic development if done effectively, works to retain and grow jobs and investment within a country.
    vi) ICT Incorporate electronic technologies and techniques used to manage information and knowledge including information handling tools used to produce, store, process, distribute and exchange information.
    vii) ICT helps in supporting the poor in business development, foster empowerment of the poor, facilitate access to education and health, improve the environment and prevent natural disasters hence, leading to the economic development of a country.

    2) The Relevance of Excel in today’s academic and socioeconomic world are;
    I) Excel helps in proper Financing and Accounting: Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modeling in minutes with Excel. Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions. Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.
    ii) Marketing and Product Management: While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results. Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
    ii) Human Resources Planning: While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level. HR professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and.
    iv) Excel provides user with the ability to calculate, organize and evaluate quantitative data, allowing managers and senior staff to have the information they need to make important decision that can affect the company.
    v) Excel reduces the difficulty of plotting data and allows students a means for interpreting the data. Hence increasing the intellectual Quotient of students to carry out a large data analysis.

  30. 1. Information communication technology ICT, in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.

    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination ofvarious individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.

    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs. This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.

    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.

    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.

    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.

    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.

    2. Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations — there’s a lot that Excel offers to its users.
    With a working knowledge of MS Excel, you’ll be able to organise and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do.

    All in all, MS Excel is a pretty nifty tool — one that has empowered students and their academics for years and continues to do so. Let’s look at 6 reasons for Excel being such an important tool in the toolkit of students:

    a. Improved time management
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.

    b. Holistic look at the data
    When you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation.

    c. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.

    d. Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well.

    e. Data visualization techniques and ideas
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.

    In business/socio economic world, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists. let’s look at some of the sectors that excel have made reasonable impact in the socio economic world.

    Finance and Accounting
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modeling in minutes with Excel.
    Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.
    Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.

    Marketing and Product Management
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.

    Human Resources Planning
    While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.

    HR professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.

  31. Avatar Nnaji kelechi 2019/245744 Economics dept says:

    No 1
    the multifaceted roles of ICT in Economics and Economic Development

    **ICT’s impact on education
    The ICT sector has already dramatically changed the way people study.A wide range of information is available free on the Internet—something that was unthinkable just 20 years ago.The use of email, websites, and virtual classrooms and libraries has proliferated, facilitating the sharing of information on a large scale. Some countries have set specific initiatives to improve education through ICT. For instance, the deployment of the Jordan Education Initiative (JEI), a public-private partnership that aims to improve education in Jordan through the effective use of ICT, was launched in 2003 with the support of the World Economic Forum. Partnerships with multinational companies such as Microsoft and Cisco have enabled the equipment, with computer labs and broadband Internet, of 100 “Discovery Schools” around the country, along with the creation of e-learning curricula for 50,000 pupils and information technology (IT) training schemes for 3,200 teachers. The performance of Jordan’s students is higher in Discovery Schools than in other schools, and higher levels of education are key to reducing unemployment and poverty. Another interesting example of an e-education program is in South Africa, a country with a 30 percent adult illiteracy rate. In partnerships with local communities, IBM has implemented labs in schools and associations that use a free Web-based program called Reading Companion.The program employs an innova￾tive speech-recognition technology that listens, guides, and teaches children and adults to read English and improve their literacy skills. For children, the software provides a solid grounding in reading, while it allows adults to gain literacy skills that will help them to search for a job and obtain a driver’s license, among many other things.According to IBM, independent evalua￾tions of the technology have shown that young students using the software tested significantly higher on word recognition and comprehension tasks. For adults, the software improved English pronunciation and reading skills, contributed to learning gains, and enabled greater comfort with technology.Access to Reading Companion will be expanded to over 1,000 schools in South Africa over the next three years.16 In addition, more than 600 sites, schools, and nonprofit organizations are using Reading Companion in 22 countries.

    **ICT’s impact on healthcare
    The use of ICT for health (e-health) has the potential to transform healthcare by efficiently connecting people and improving information sharing. Currently, e-health is predominantly seen in developed countries. But as the availability of ICT spreads rapidly in th developing world, there is an opportunity to expand healthcare access to areas where distance, poverty, and scarce resources are currently barriers to even basic care. Thanks to ICT, doctors can access patients’ medical records more easily, have immediate access to test results from a laboratory, and deliver prescriptions directly to pharmacists. Patients with heart problems can carry monitors, which alert their doctors if their conditions change yet allow them to continue with their daily lives as usual. Denmark is a leading country in national healthcare information exchange, with the successful development of its national e-health plan.The healthcare portal was created in 2003 to enable patients to view their medical profiles and histories, renew their prescriptions, book appointments with doctors, and so on. Healthcare professionals also have access t the same information and additional clinical knowledge.Through the careful use of IT, the Danish health system has saved money, improved efficiency, and laid the foundation for improvements in the quality of care. Another example is a major hospital chain in India, Apollo Hospitals. In collaboration with a leading provider of telecommunications and data communications systems, they are providing basic diagnostics (blood pressure), medical check-ups, and consultation via mobile services.This project will enable the provision of affordable and accessible healthcare to millions of people in remote areas.

    **ICT’s impact on government services

    Early’s I breakthroughs in e-government—such as the use of ICT to provide and improve public-sector services, transactions, and interactions—have enabled government organizations to deliver better services more efficiently. In many countries, more than 70 percent of taxpayers now file taxes electronically, for example, and many other transactions—ranging from renewing drivers’ licenses and paying parking tickets to managing government benefits—can be conducted online. Citizens have a much easier and faster access to government services. In Singapore, for example, citizens can buy replacement identity cards online by submitting digital passport-sized color photographs and scanned copies of existing identity cards.Also, when citizens are changing their residential address, they need to submit just one single report and all government agencies, educational institutions, and selected private companies will automatically be notified.A customer perception survey conducted by the Ministry of Finance and Infocomm in Singapore showed that, in 2008, 85 percent of respondents made transactions with government electronically, and 88 percent were satisfied, for four main reasons: it is easy to find information, it is userfriendly, the transaction is fast, and it is easy to complete.

    **Improving information access and communications
    ICT is changing the way people access information (with Google and Wikipedia, for example) and interact with each other (through blogs, social networking sites, virtual reality sites, and so forth). Social networking websites have changed the job recruitment rules.Today these sites are the places to find a job and recruit talent.A recent survey, conducted in May 2009, revealed that 72 percent of US companies plan to increase their use of social network recruiting. Ninety-five percent of companies used LinkedIn; Facebook use by companies grew from 36 percent in 2008 to 59 percent in 2009. Interestingly, it also seems that employers are more satisfied with the quality of candidates from employee referrals and social networks than of those from job boards. From the candidate’s point of view, a recent survey showed that today 6 per￾cent of respondents found their last job via a social networking site—which is fairly high when one takes into account that these websites started to acquire a critical mass only a few years ago.It seems likely that such sources for job hunting and recruiting will only grow in importance given their overall growth in use. The latest presidential election in the United States
    heavily leveraged these types of social networking websites. Internet users could have a
    connection with then-Senator Obama on more than 15 social network￾ing sites,meaning that regardless of Internet users’ preferences, all of them could connect with Obama’s pages. For instance, on Facebook, the largest group of Obama’s supporters is composed of 1 million people, the Obama MySpace page currently has 1.9 million friends, and Obama has 3.1 million followers on Twitter. He also created his own social network website, MyBarackObama.com, where 2 million profiles were created. The large network created by online channels allowed Obama to reach out to people who had not been involved in politics before and would have not been involved otherwise

    No 2
    discussion Against this background earlier stated clearly the relevance of excel in today’s academic and socioeconomic world.

    **Disadvantage is user bias
    However, the downside is that only the information that the user chooses for analysis is included in these presentations, and therefore, other pertinent information that may influence decision making might be excluded, unintentionally. To make reporting of data more user friendly and comprehensive, companies are choosing to use reporting tools such as Tableau and Qlik, instead of relying solely on the spreadsheet.

    **Learning the Syntax Takes Skill
    The difficult part for many users, is that the calculations must be entered into the spreadsheet as formulas. This requires learning the correct syntax for each type of calculation you wish to make. Although many classes are available to learn the skills necessary to use these formulas, many users still find them difficult. If the syntax is incorrect, the program will not return the correct information when the calculations are run. Additionally, if users input the wrong data, even in only one cell of the spreadsheet, all related calculations and cells will be affected and have incorrect data.
    **Lack of Security
    Another spreadsheet disadvantage is the lack of security for your files. Typically, spreadsheets are not that secure and therefore are at greater risk for data corruption or mismanagement of information. Files that contain sensitive financial information may not be safe from hackers, even if password protected.

  32. Avatar Nnaji kelechi 2019/245744 says:

    No 1
    ICT’s impact on education
    The ICT sector has already dramatically changed the way people study.A wide range of information is available free on the Internet—something that was unthinkable just 20 years ago.The use of email, websites, and virtual classrooms and libraries has proliferated, facilitating the sharing of information on a large scale. Some countries have set specific initiatives to improve education through ICT. For instance, the deployment of the Jordan Education Initiative (JEI), a public-private partnership that aims to improve education in Jordan through the effective use of ICT, was launched in 2003 with the support of the World Economic Forum. Partnerships with multinational companies such as Microsoft and Cisco have enabled the equipment, with computer labs and broadband Internet, of 100 “Discovery Schools” around the country, along with the creation of e-learning curricula for 50,000 pupils and information technology (IT) training schemes for 3,200 teachers. The performance of Jordan’s students is higher in Discovery Schools than in other schools, and higher levels of education are key to reducing unemployment and poverty. Another interesting example of an e-education program is in South Africa, a country with a 30 percent adult illiteracy rate. In partnerships with local communities, IBM has implemented labs in schools and associations that use a free Web-based program called Reading Companion.The program employs an innova￾tive speech-recognition technology that listens, guides, and teaches children and adults to read English and improve their literacy skills. For children, the software provides a solid grounding in reading, while it allows adults to gain literacy skills that will help them to search for a job and obtain a driver’s license, among many other things.According to IBM, independent evalua￾tions of the technology have shown that young students using the software tested significantly higher on word recognition and comprehension tasks. For adults, the software improved English pronunciation and reading skills, contributed to learning gains, and enabled greater comfort with technology.Access to Reading Companion will be expanded to over 1,000 schools in South Africa over the next three years.16 In addition, more than 600 sites, schools, and nonprofit organizations are using Reading Companion in 22 countries.
    ICT’s impact on healthcare
    The use of ICT for health (e-health) has the potential to transform healthcare by efficiently connecting people and improving information sharing. Currently, e-health is predominantly seen in developed countries. But as the availability of ICT spreads rapidly in th developing world, there is an opportunity to expand healthcare access to areas where distance, poverty, and scarce resources are currently barriers to even basic care. Thanks to ICT, doctors can access patients’ medical records more easily, have immediate access to test results from a laboratory, and deliver prescriptions directly to pharmacists. Patients with heart problems can carry monitors, which alert their doctors if their conditions change yet allow them to continue with their daily lives as usual. Denmark is a leading country in national healthcare information exchange, with the successful development of its national e-health plan.The healthcare portal was created in 2003 to enable patients to view their medical profiles and histories, renew their prescriptions, book appointments with doctors, and so on. Healthcare professionals also have access t the same information and additional clinical knowledge.Through the careful use of IT, the Danish health system has saved money, improved efficiency, and laid the foundation for improvements in the quality of care. Another example is a major hospital chain in India, Apollo Hospitals. In collaboration with a leading provider of telecommunications and data communications systems, they are providing basic diagnostics (blood pressure), medical check-ups, and consultation via mobile services.This project will enable the provision of affordable and accessible healthcare to millions of people in remote areas.
    ICT’s impact on government services
    Early breakthroughs in e-government—such as the use of ICT to provide and improve public-sector services, transactions, and interactions—have enabled government organizations to deliver better services more efficiently. In many countries, more than 70 percent of taxpayers now file taxes electronically, for example, and many other transactions—ranging from renewing drivers’ licenses and paying parking tickets to managing government benefits—can be conducted online. Citizens have a much easier and faster access to government services. In Singapore, for example, citizens can buy replacement identity cards online by submitting digital passport-sized color photographs and scanned copies of existing identity cards.Also, when citizens are changing their residential address, they need to submit just one single report and all government agencies, educational institutions, and selected private companies will automatically be notified.A customer perception survey conducted by the Ministry of Finance and Infocomm in Singapore showed that, in 2008, 85 percent of respondents made transactions with government electronically, and 88 percent were satisfied, for four main reasons: it is easy to find information, it is userfriendly, the transaction is fast, and it is easy to complete.
    Improving information access and communications
    ICT is changing the way people access information (with Google and Wikipedia, for example) and interact with each other (through blogs, social networking sites, virtual reality sites, and so forth). Social networking websites have changed the job recruitment rules.Today these sites are the places to find a job and recruit talent.A recent survey, conducted in May 2009, revealed that 72 percent of US companies plan to increase their use of social network recruiting. Ninety-five percent of companies used LinkedIn; Facebook use by companies grew from 36 percent in 2008 to 59 percent in 2009. Interestingly, it also seems that employers are more satisfied with the quality of candidates from employee referrals and social networks than of those from job boards. From the candidate’s point of view, a recent survey showed that today 6 per￾cent of respondents found their last job via a social networking site—which is fairly high when one takes into account that these websites started to acquire a critical mass only a few years ago.It seems likely that such sources for job hunting and recruiting will only grow in importance given their overall growth in use. The latest presidential election in the United States
    heavily leveraged these types of social networking websites. Internet users could have a
    connection with then-Senator Obama on more than 15 social network￾ing sites,meaning that regardless of Internet users’ preferences, all of them could connect with Obama’s pages. For instance, on Facebook, the largest group of Obama’s supporters is composed of 1 million people, the Obama MySpace page currently has 1.9 million friends, and Obama has 3.1 million followers on Twitter. He also created his own social network website, MyBarackObama.com, where 2 million profiles were created. The large network created by online channels allowed Obama to reach out to people who had not been involved in politics before and would have not been involved otherwise.
    No 2
    Disadvantages of Microsoft excel
    Disadvantage is user bias
    However, the downside is that only the information that the user chooses for analysis is included in these presentations, and therefore, other pertinent information that may influence decision making might be excluded, unintentionally. To make reporting of data more user friendly and comprehensive, companies are choosing to use reporting tools such as Tableau and Qlik, instead of relying solely on the spreadsheet.

    Learning the Syntax Takes Skill
    The difficult part for many users, is that the calculations must be entered into the spreadsheet as formulas. This requires learning the correct syntax for each type of calculation you wish to make. Although many classes are available to learn the skills necessary to use these formulas, many users still find them difficult. If the syntax is incorrect, the program will not return the correct information when the calculations are run. Additionally, if users input the wrong data, even in only one cell of the spreadsheet, all related calculations and cells will be affected and have incorrect data.
    Lack of Security
    Another spreadsheet disadvantage is the lack of security for your files. Typically, spreadsheets are not that secure and therefore are at greater risk for data corruption or mismanagement of information. Files that contain sensitive financial information may not be safe from hackers, even if password protected.

  33. Avatar Daniel Unique Agbenu says:

    Daniel Unique Agbenu
    2019/246710
    Eco 236
    Economics department

    Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because
    At the present time, ICT has become a serious part of economy. Almost all firms and consumers use computers and Internet connection for economic purposes, such as providing consumers with a more diversified and customized products, improving product quality, and selling goods and services. Evidently, the extension of ICT and its influences on economic growth in both developed and developing countries has increased very fast during the last two decades.The effect and benefits of technology should, obviously, not be overlooked on our lives today. The 21st century is called the age of science and technology (and now data), particularly with the advancements and advances in new technology over the last few decades.

    1. Access to Information
    Abbreviated as www, the World Wide Web has turned the world into a social village. That is because, all kinds of information are available on the internet widely from around the globe. Although much of the news you get to see on social media is simply factual, images for specific news can also be seen. Not only is there more news available, but access to all these information is also straightforward. Information is very necessary in economic and economic development.
    2. New Jobs
    The increasing demand of IT professionals around industries generates new opportunities every day. Several emerging economies around the world are setting new records now by enhancing their competence in this field. A greater number of people are now interested in jobs such as computer programming, system analysis, testing, developing software and hardware, and designing web applications. Through ICT there will be more room for employment thereby cutailing poverty and under development.

    3.Exposure
    ICTs can help them (less developed industries and nations) make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them and they are aware of the recen happenings all over the globe.

    4.Efficiency:
    The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.

    5.Restructuring:
    Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    QUESTION 2

    Relevance of Excel in today’s academic and socioeconomic world
    Among the computer programs which exist, Microsoft Excel is one of the most important because of the key role it plays in many sectors. It is the most used spreadsheet program in many business activities, classwork and even personal data organisation. has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Many businesses, personal and institutional enterprises have embraced the use of Excel because of its utility and the ability to serve as a visual basic for different applications.
    Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations — there’s a lot that Excel offers to its users.With a working knowledge of MS Excel, you’ll be able to organise and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do.
    1.Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    2. Increased Time Management
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.

    3. Managing Operations
    Excel is relied on heavily to manage the day-to-day operations of many businesses. Business activities can often involve quite complicated logistics. Inventory flows need to be controlled so that you can keep operations running smoothly – and without overstocking on particular items. That means keeping track of supplier and client transactions, listing critical dates.

    .
    4. Project Management
    Although project managers have access to purpose-built project management (PM) software, an Excel Workbook is often an effective alternative.
    Projects are business activities that typically have a budget and start and end dates. Project plans can be placed into a workbook, which can then be used to track progress and keep the project on schedule.
    An advantage of using Excel is that you can easily share the project workbook to others, including to people who are unfamiliar with, or lack access to, custom PM software.

  34. Avatar Obayi chioma Emmanuella says:

    ICT has become a key driver of economic development over the past decades. The rapid diffusion of the Internet of mobile telephony and of broadband networks all demonstrate how pervasive this technology has become. The effective use of ICT by enterprises can result in greater productivity leading to greater competitiveness and the sustainable growth a precondition for poverty reduction. ICT are expanding the possibilities of developing economies to participate in the international markets. The internet is dramatically changing the way goods and services are produced, delivered,sold and purchased. The use of internet empowers the weak players in the global economy such as small business owners in developing countries by providing them with information communication and knowledge they could not have access before.one of the prominent characteristics of well performing developing economies in the large scale economy wide is the diffusion of information communication and technology. The ICT enables economic growth by broadening the reach of technologies such high speed internet, mobile broadband and computing, expanding these technologies itself creates growth and the fact that technologies makes it easier for people to interact and make workers more productive creates additional benefits. The countries with the highest advanced ICT sectors present the highest levels of competitiveness suggesting that that having a country enabled by ICT improves the overrall performance and growth in the long run.it also contribute to the annual GDP by0.6_0.7 on average on annual basis of a country.

  35. Avatar UGWUANYI NKEONYE LAUREL says:

    UGWUANYI NKEONYE LAUREL
    2019/243315
    nkemlaurel@gmail.com

    Question 1: Emerging in the middle of the twentieth century, the ICT industry has developed rapidly and it now plays a pivotal role in establishing firm competitiveness and driving economic growth.
    For example, economic growth in countries that are technically advanced in ICT, such as Japan, Korea and Finland, is dominated by investments in ICT and productivity growth in both industries and the economy as a whole. Further, ICT is now widely used: the percentage of the population using the Internet has been growing at an average rate of double digits over the past ten years. In the developed world, this figure reached almost 77 percent by 2013 and in the developing world it reached 31 percent.
    The role of ICT in economic development has received increasing academic interest.
    In general, previous studies have largely focused on three issues: the contribution of ICT to economic growth, the nature of ICT itself and the impacts of specific ICTs (e.g., mobile networks or broadband) on innovation.
    Previous studies have also explored the impacts of ICT adoption on firm innovation performance, operation efficiency and the internationalization of investment in ICT research and development (R&D) . However, findings with respect to the specific ways ICT affects product innovation and process innovation remain inconclusive. In particular, the mechanism by which ICT interacts with knowledge sourcing and subsequently contributes to innovation performance is still to be explored.
    As a tool for communication, ICT is treated as an efficient channel for firms to gain access to advanced technological information. As an instrumental input, ICT effectively interacts with knowledge sources for innovation and further enhances innovation performance.
    Organization learning theory suggests that the adoption of ICT practices increases the effectiveness of both internal R&D and external technology purchasing.
    Hence, the knowledge creation generated from R&D investment and external technology purchasing is expected to be greater for firms with compatible ICT support.

    Question 2: Excel was released in 1985 and has grown to become arguably the most important computer program in workplaces around the world. In business, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists.
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.
    Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.
    Using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.
    Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
    While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.
    professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.
    When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    You can calculate customer discounts based on monthly purchase volume by product.
    Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Use complex calculation methods, like Sharpe ratios.

  36. Avatar Anyamadu Stephen Okechukwu 2019/249163 says:

    Anyamadu Stephen Okechukwu
    2019/249163
    Question 1
    Role of ICT in Economics and Economic Development.

    In Economics

    Economics is concerned with allocation of scare resources to meet needs which have alternative, in doing this it ranks its want in hierarchy from most important to least, Excel helps in this regards by creation of worksheet.

    Excel can also be used in calculating individual/firms/government marginal utility derived in satisfying several wants.

    Last I would speak of is Economics interest in showing data in descriptive form, this can also be done using some Excel features

    In Economic-Development
    1. Knowledge of ICT helps to boost the income of individuals, leading to further increase in per capital income, which translate to Economic Development
    2. It makes production processes easier and faster, a productive economy leads to a developed economy.
    3. A feature of developed economy is that the work occupation of citizens, and ICT provides that Job-shift, moving people from old ways to a new and fast way to do things.

    Question 2
    Relevance of Excel in today’s academic

    Besides business purposes, MS Excel is also very beneficial to students and Teachers in academics. As a student, I will use Excel to prepare my lesson plans, reconstruct worksheets, create graphs or tables effectively and efficiently, and create timelines for studies.
    Also helps to build my skills and makes me employable.
    To the teacher, it helps in score computation. Record keeping. Descriptive analysis of students to see areas to improve in.
    Generally, Excel pushes today’s Academic to greater height and efficiency.
    To socialeconomic world.
    Provision of advancement. Creation of employment and polishing of old opportunity.

  37. Avatar Ozonwu chukwuebuka silas says:

    Name: Ozonwu chukwuebuka silas
    Reg no: 2019/244686
    Dept: Economics
    1. ROLE OF ICT IN ECONOMICS GROWTH
    Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world. It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st
    century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.

    IMPORTANT OF ICT IN ECONOMY DEVELOPMENT

    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of
    this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work
    outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient –
    delivering economic growth. Furthermore, setting up manufacturing
    points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.

    LIMITATION OF ICT IN ECONOMY DEVELOPMENT

    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor
    quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry
    where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information
    start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth. And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are stillvstruggling to lift significant portions of
    their population out of poverty, the slightest bit of cost associated with
    information, such as the cost of travel, bureaucracy etc. will prevent people fromaccessing it.

    2. RELEVANCE OF EXCEL IN ACADEMY

    1. Improved time management
    If you’re looking to successfully own and run a business, or even work in a corporate, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that,
    the various features of Excel come in quite handy. You can increase productivity and improvebtime management by having a command on
    all the frequently used shortcuts of Excel. You can also use macros and other formulasvto automate your tasks. These little pushes that Excel offers give you a lot of free time tobfocus on more difficult things, while Excel takes care of most of the regular, mundane,
    formula-based tasks.
    2. Holistic look at the data
    When you’re managing a large pool of data,vit’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able
    to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have avvisual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and
    make predictions that are more likely to come true. Excel also allows you to create many pictorial representations like pie charts,
    graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come onvthe same page regarding the understanding of data at hand.
    3. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-
    consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without
    wasting too much time, and without compromising even a bit on accuracy.

    RELEVANCE OF EXCEL TO SOCIOECONOMIC

    They offer tailored monitoring and evaluation solutions from project design right through to ex-post evaluation, helping their clients enhance the effectiveness and efficiency of their programmes to produce a sustainable impact, as well as providing forward-looking insights and facilitating accountability.The services they offer include, but are not limited to, the following: Programme and system design Third-party monitoring and evaluation Qualitative and quantitative data collection and analysis Project cyclevmanagement Baseline studies Impact assessment Strategic Planning They provide clients with the tools and leadership required to develop strategic results. They develop an intimate understanding of the client’s organisation – its special needs, capacities and resources – and use this knowledge to understand the vision of the organisation and support future success. They have strong experience in strategic planning for NGOs, public and private sector organisations, in the following key areas: Institutional strengthening Organisational restructuring Decentralisation Urban development Governance and public administration
    Result Based Management (RBM) Facilitation Training of Trainers (ToT) Corporate social responsibility Organisational restructuring Economic Research and Policy Analysis They aim to encourage and promote sustainable economic development at home and across the MENA region.

  38. Avatar OFORISHE VICTORIA IRUWOGHEN2019/247251 says:

    Question-1
    Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    Two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs. This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    In conclusion, ICT is the key driver to the economic growth, there is no doubt, therefore, major nations government

    takes a major role in promoting the benefits associated with the use of ICT, but it is imperative to set up some independent bodies that would be actively involved in monitoring, giving feedback and develop improvement on ICT performance in the economy. ICT had been proven to consumers and business to reduce transportation costs and all this can be achieved through regular technical optimization with the prime quest for speed, security and multifunction complete with a dynamic management with strong development focuses. Flexibility in international trade and laws is crucial factors in ensuring that businesses are able to import ICT goods of their choice and specification, from different parts of the world. The adoption of ICT and the consequent increased productivity and economic growth induced by it has been described as the dawn of the new economy. The astounding high rate of productivity in the US for example, which occurred at the same as well with the rapid diffusion and production of ICT directly led to the term new economy.

    Question-2
    Excellent is relevant in today’s academic and social-economics world in the following way. One is the co-integration. The of array of formula Excel uses in calculating helps current needs.
    The easy of computing helps those in academics as well as other sphere, in analysis of information

  39. Avatar Omeje Godsfavour Chiemerie. 2019/244972 says:

    1. Explain the roles of ICT in economic and economic development.
    ICT defines as a concept that include computers and other information equipment as well as computer software, that covers computers, peripheral equipment and other information-related office equipment (photocopiers, cash registers, calculators), communications equipment, and instruments. ICT played different roles in the economics and economic development as explained below:
    ICT is the combination of electronics, telecommunications, software, networks, and decentralized computer work stations, and the integration of information media all of which impact firms, industries, and the economy as a whole. The extension of ICT and its influences on economic growth in both developed and developing countries has increased very fast during the last two decades. However, country data on computer, cell phone, and Internet users illustrate different ICT diffusion rates across countries and regions, ICT use indicators illustrate an increasing trend, despite the recent world economic crisis
    In addition, the resurgence of productivity during the late 1990s and the early 2000s is a topic that has attracted many growth economists. ICT is the current symbol of the technological revolution and is known as the key factor driving economic growth in the industrial society.

    2. Discuss the relevance of excel in today’s academic and socioeconomic world.
    Students can become good and proficient in any school or college subjects by using Microsoft Excel. Microsoft Excel is really important in our education system that enhances data management creativity in students mind. Microsoft Excel is an important application in computers that need to be used in the classroom and education. There are various reasons why Microsoft Excel is important in Education
    Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy.
    Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.
    Today, Data management and visualization in business is the most important thing. In future students will work in organizations and companies, in that they will find it comfortable to deal with data and information.
    Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. By using such a tool they will learn how to validate, consolidate, group, import and explore data and information in a computer using Microsoft Excel faster with accuracy.
    Indeed, Microsoft excel is of great relevance in the academics and the socioeconomic world today

  40. Avatar NNAJI LOVELYN CHINWE. 2019/247502 says:

    ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    ICT plays a significant role in economic development and economists predict that economic growth is driven by investments in ICT.
    ICT broadens the reach of technologies such as high speed internet, mobile broadband and computing, thereby enabling economic development. Also, the expansion of these technologies makes it easier for people and workers to interact to create more productive additional benefits
    ICT promotes an economy’s integration, improves the living standard, narrows inequality and improve the utilization of natural resources.
    ICT provides consumers with a more diversified and customized products thereby improving product quality.
    ICT has been proven to contribute to the national GDP and improve market competitiveness of a country’s goods and services.

    RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD
    Excel is a very important skill that an academic student should have as it increases one’s chances of securing a job or a career as an analyst, amongst other benefits.
    With the working knowledge of Excel, you’ll be able to organize and manipulate a large amount of data that can be time consuming.
    Excell allows you to create pictorial and graphical representations for an economic project work.
    Excell supports an academic student in performing calculations faster and more accurately.

  41. Avatar Odum precious naomi says:

    1. By reviewing the contributions from the neoclassical and endogenous growth theory and empiric evidences for the link between ICT and economic growth, I strongly concludes that ICTs facilitate growth, principally by providing incentives for capital deepening and increasing productivity through rapid technological progress. However, the impact on growth is more extensive from the long-term ICT use and networking that though requires appropriate ICT investment and complementary efforts in order that spillovers and productivity improvements are triggered and exploited totallyAs a result of the accelerated technological progress and permanent price declines of ICT since the mid-1990s, the last decade was marked by rapid diffusion of ICT throughout the world, especially all over the developed nations. ICT has gradually conquered many various parts of social life and economic processes, e.g. the mobile phone penetration rate averagely exceeds the 95 per cent point and the average worker and household in the developed world features at least one personal computer with access to the Internet, of which a considerable share even uses broadband and wireless access.
    ICT’s potential has enforced the business world to substitute and modify conventional capital and labour. Though the concomitant slowdown in economic growth has hindered the euphoria, ICT investment and application have increased substantially in both developed and developing countries, but to lesser extent and lower level in developing regions, such as Latin America, Middle East, Africa and Eastern Europe
    Nevertheless, due to the relative high ICT investment and use, economic processes and trade are more and more influenced by the creation, dissemination, accumulation, processing and application of information and knowledge. ICT’s multidimensional capabilities facilitate extensive innovations in products and processes, and thus lead to a more productive exploitation of capital and labour. ICT’s wide scattered application allows new business models and management practices, new products embedding ICT, easier expansion to global markets and ICT-enabled emergence of new markets. Moreover, the impact is even more far-reaching through spillovers induced by ICT- based networking, and has been much increased by the Internet. Through the diffusion of ICT, transaction costs are reduced and facilitate more productive ways of interaction between businesses and division of labour worldwide. Furthermore, ICT allows an easier interchange of international innovators and dissemination of new technologies, and thus accelerates the invention and circulation of new ideas that in turn trigger further technological change. Due to these network effects the impact of ICT increasingly grows crossing the threshold of ICT uptake and becomes more important than ICT investment and production with regard to contribution to economic growth.
    2.Excel was released in 1985 and has grown to become arguably the most important computer program in workplaces around the world. In business, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists.Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.Using Excel for business has almost no limits for applications. Here are some examples:
    When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.Excel has many other uses…you can do anything with a spreadsheet.

  42. Avatar Okafor Chukwubuikem Emmanuel says:

    Okafor Chukwubuikem Emmanuel
    2019/245070

    1a) Information Communication Technology(ICT) are crucial to reducing poverty, improving access to health and education services and creating new sources of income and employment for the poor. Being able to access and use ICT has become a major factor in driving competitiveness economic growth and development.

    b) ICT has changed the way in which we communicate with each other, how we find needed information, work, conduct business interact with government agencies and how we manage our social life.

    c) ICT promotes development across many dimensions. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive.

    2) Excel remains relevant till date because it’s part of a larger big data ecosystem. Many businesses continue to emphasize on the importance of excel skills because it remains as an intelligent as an intelligent way to extract actionable insight. Business finances and more can be analyzed through the excel spreadsheet but the real advantage is on the process.
    The most relevant use of excel is it’s ability to mass arithmetic calculations. With a vast program full of formulae, you can add, subtract, multiply, and divide hundreds of numbers altogether and can easily redo if a number is changed or added.
    . It is also used for financial analysis

  43. Avatar Spencer divine ezekwesiri 2019/243331 says:

    In economics, it is widely accepted that technology is the key driver of economic growth of countries, regions and cities. Technological progress allows for the more efficient production of more and better goods and services, which is what prosperity depends on.

    However, the mechanisms through which technology is developed, adopted and used in production are complex. Their more detailed analysis can allow for new findings that could have important impacts in many areas of policy, including science policy, research and development, industrial policy, and both national and regional development policies. In fact, the concept of technology itself as well as the individual and social capabilities required for its development ca now be studied at a much more fine-grained level leading to potential contributions that may impact higher education, job creation and economic growth. Clearly, there are links between education, research and development, innovation and economic activity that are part of the process we aim to uncover.
    The recent shift towards open innovation has resulted in increased flows of knowledge and new types of cooperation between education institutions, research organizations and business. Top corporate R&D investors worldwide lead the development of many emerging technologies. This is evident from an examination of the technology fields in which these companies intensified their inventive activities in the recent years and the contribution of top R&D investors to the overall development of these fields. Top corporate R&D investors accelerated their inventive activities in areas such as engines, automated driving systems, big data, artificial intelligence, 3-D printing and information and communication technologies.

    It is necessary to remember that the two main ingredients for the development of new technology are codified knowledge in the form of theories, frameworks, scientific papers, patents, recipes, protocols, routines and instruction manuals and tacit knowledge or knowhow, which is acquired through learning by doing in a long process of imitation and repetition and which exists only in brains. The development of science, technology, innovation and production require both codified and tacit knowledge but the codifiable component of science and technology get registered, respectively, in the form of scientific publications and patents, and these are grouped into categories. Scientific publications, patents, industries, occupations and products are proxies of scientific knowledge, technological development, economic activity and human skills.

    They form what is known as a multiplex network with six kinds of nodes where geographic location represents the last one. Understanding relations within each layer, e.g., the knowledge space, the patent space, the industry space, the occupation space, the product space and the country (or location space); and across layers should shed light on the foundations of countries economic development and the policies to be implemented in all of these areas to promote it.

    2. The relevance of Excel can’t be over emphasized

    IMPORTANCE OF MS EXCEL IN OUR DAILY AND BUSINESS LIVES:
    Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis.

  44. Avatar Abonyi kosiso Sunday 2019/244009 Economics department says:

    Abonyi kosiso Sunday
    2019/244009
    Economics department

    Answer to NO 1 question

    Technology’s Role in Economic Development
    Technology encompasses a huge body of knowledge and tools that ease the use of economic resources as a way to produce goods and services efficiently and innovatively. Technological progress is essential to economic growth and development, and the more advanced the technology available, the more quickly the local and global economy can improve. Technology’s role in economic development is further broken down below.

    TIME IS MONEY
    Technology can save the time it takes to produce a good or deliver a service, contributing to the overall profits of a business.

    EFFICIENCY

    Technology can contribute to the efficiency of a business’s output rate, allowing for larger quantities of products to be moved or of services to be rendered.

    SPECIALIZATION

    Technology has lead to an increase in the division of labor and specialization of jobs within a business, further contributing to the efficiency with which a business is able to run.

    NATURAL RESOURCES

    Technology has a huge effect on the ability of businesses and governments to access natural resources and use them in the most effective ways possible to benefit both the business and the economy.

    INDUSTRIAL EXPANSION

    Thanks to the increased efficiency of labor with the ever-improving state of technology, businesses are able to increase total output, which in turn leads to higher profits and greater economic development.

    RESEARCH
    ICT has made research to be so easy and less error.
    At the present time, ICT has become a serious part of economy. Almost all firms and consumers use computers and Internet connection for economic purposes, such as providing consumers with a more diversified and customized products, improving product quality, and selling goods and services. Evidently, the extension of ICT and its influences on economic growth in both developed and developing countries has increased very fast during the last two decades. However, country data on computer, cell phone, and Internet users illustrate different ICT diffusion rates across countries and regions, ICT use indicators illustrate an increasing trend, despite the recent world economic crisis (Figure 1). For example, the steady growth of the number of mobile cellular subscriptions is noticeable, reaching 67 per 100 inhabitants by the end of 2009 globally. This confirms that consumers are willing to continue spending part of their disposable income on mobile services – even at times of financial constraints.
    ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo- gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.

    Answer to No 2 question

    To sum up, the broad benefits of learning Excel for students include faster and more accurate decision making, quick calculations, seamless data visualization, and a lot more. Many students across the globe are waking up to these benefits and starting to master the art of Microsoft Excel.

    IMPORTANT OF EXCEL.

    The importance of MS Excel can be seen in the different departmental units it is used as follows.

    1. GRAPHING
    This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in more visual way. Since the formulae and procedures are incorporated in the package, it is always an easy and time saving to create charts. Unlike other graphing programs, Excel is much more cost effective as it plays many different roles, and can be used for so many different things.

    2. DATA ORGANISATION
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this buy ativan 2.5 mg effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.

    3. PROGRAMMING
    When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming.

    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

    Excel is very beneficial for students. Students can learn by using excel how to convert raw data into meaningful information. They will learn by doing exercises in Excel how to perform calculations faster. They will understand by using Excel how data can be visualized. They will learn how to do financial planning. Students can learn why data and information are important to filters.

    They will learn in Excel why how to track goal progressions, how salaries are calculated etc. are essential things they will face and use in the future but if they are practicing on such things using Microsoft Excel earlier in their career, it will be easy for them in the future to handle a large amount of data and information easily and accurately.
    Students can become good and proficient in any school or college subjects by using Microsoft Excel. Microsoft Excel is really important in our education system that enhances data management creativity in students mind. Microsoft Excel is an important application in computers that need to be used in the classroom and education. There are various reasons why Microsoft Excel is important in Education but let’s look at the following reasons I think very important to consider

  45. Avatar Ossai Mary Amarachi 2019/243684 says:

    1. Information and communication technology and its prowess is a measure of economic growth and development of a country. People all over the world use technology for efficiency and speed, countries with limited access to such technology are often referred to as backward or underdeveloped.
    In the electronic market system, products of ICT such as mobile phones and applications aid in the process and make trade easier and faster and also widens the scope of the market since it can be done from anywhere around the world.
    The foreign exchange market too has been adequately affected by the innovation of technology with reference to cryptocurrencies. There’s no doubt that technology drives change and so for a nation to move foward they must have sufficient access to technology.
    today we have products that are called ‘digital product’ these products are electronic or intangible goods that can be sold to generate income. As the world drifts from the manual way of marketing, countries and even businesses that follow suit experience economic development.

    2.The Microsoft excel was designed to carry out large number of arithmetic calculations accurately and with speed also. The software program is able to process a large volume of data. The human mind cannot be able to process such data so in cases where they are faced with calculations In the classroom or even in businesses the program is efficient.The program also is able to give visual representation in charts, this is important in the evaluation of economic variables.
    The safety of data is also ensured using this software as it does not go missing or destroyed.

  46. Avatar Ezurueme+Ogechi says:

    NAME: Ezurueme Ogechi
    REG NO: 2019/251620
    LEVEL: 200L
    COURSE: Eco 236

    1A MARKETING: Marketing comprises of advertising, sales, distribution, branding and many more activities. So the development of marketing automatically gives rise to a need for technologies such as Smart phones, smart tv, etc. The use of this ICT leads to successful operation of marketing as target audience is reached easier and faster. Successful operation of marketing activities creates, maintains and increases the demand for goods and services in society. To meet this increased demand the companies need to increase the level of production in turn raising their income. This increase, in turn, leads to economic growth and contributes to economic development

    B. COMMUNICATION: Communication plays a vital role in advancing economic growth. A survey of firms carried out in 56 developing countries found that firms that use Communication grow faster, invest more, and are more productive and profitable than those that do not. The use of digital communication, data transmission from point to point, and technologies has been directly linked to a country’s economy. For instance, the more digitization in a nation, the greater its economic development as can be seen with an increased GDP per capita, or gross domestic product per person.
    C. INVESTMENT: Well researched information gotten from search engines such as google, etc and spread through the internet helps investors and business tycoons make well informed decisions. An increase in investment leads to economic growth and development.

    2. Academic world: Excel is very beneficial for students. Students can learn by using excel how to convert raw data into meaningful information. They will learn by doing exercises in Excel how to perform calculations faster. They will understand by using Excel how data can be visualized. They will learn how to do financial planning. Students can learn why data and information are important to filters. They will learn in Excel why how to track goal progressions, how salaries are calculated etc.
    Socioeconomic world: In business, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists. Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.

  47. Avatar Ujam Stanley chibueze says:

    UJAM Stanley CHIBUEZE
    2019/242764
    Ujam2001@gmail.com

    1i. Direct job creation
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

    oo. Contribution to GDP growth

    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    iii. Emergence of new services and industries

    Numerous public services have become available online and through mobile phones. The transition to cloud computing is one of the key trends for modernization. The government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses. ICT has enabled the emergence of a completely new sector: the app industry. Research shows that Facebook apps alone created over 182,000 jobs in 2011, and that the aggregate value of the Facebook app economy exceeds $$12 billion.

    iv. Workforce transformation

    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.

    v. Business innovation

    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2i) Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    ii) Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    iii) Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    iv) Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    v) Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.
    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis. If you want to, you can learn more about this programme and take courses here

  48. Avatar EMUKA CHIDERA FAVOUR 2019/246077 says:

    1) THE MULTIFACETED ROLES OF ICT IN ECONOMIC AND ECONOMIC DEVELOPMENT ARE;
    The ICT industry—including telecommunications
    operators, computer and software producers, electronic equipment manufacturers—is playing an increasingly important role in the global economy. It created approximately 5 percent of total GDP growth between 2003 and 2008, and it represented 5.4 percent of world’s GDP in 2008.That share is expected to reach 8.7 percent by 2020.
    I) Because of its size and the nature of its products,the industry has a notable role to play in encouraging economic growth and contributing to other social goods, including improving education and healthcare access and services. Furthermore, recent McKinsey
    research shows that the ICT industry can potentially
    contribute to reducing worldwide CO2 emissions by 15percent in 2020,an enormous contribution but we will focus here on the economic and social contributions of the industry.
    II)ICT enables economic growth by broadening thereach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo￾gies itself creates growth, and the fact that technologies
    make it easier for people to interact and make workers more productive creates additional benefits.

    ICT’s role in enabling economic growth has
    become more significant as governments are investing to stem the effects of the global financial crisis.As US President Barack Obama noted in January 2009,“Increased broadband spending, electronic medical records, green energy investments, and new computers
    for schools and libraries are all smart ways to keep America competitive while also creating new jobs and spending.”
    III)And UK Prime Minister Gordon Brown has
    likened his government’s efforts to extend the country’s digital infrastructure to “the roads and the bridges and the railways that were built in previous times to stimu￾late the economy.”
    IV) They are far from alone—Korea,
    Rep. (Korea) has long been
    a leader in broadband investment, and today countries from Greece to Malaysia have committed large amounts
    of money to develop their ICT sectors.
    Beyond economic benefits, the ICT industry is
    uniquely positioned to help build a more socially sus￾tainable future. McKinsey’s most recent consumer survey shows that the ICT industry is perceived to be among the top four industries in terms of its potential contribution to society behind only healthcare, agriculture,
    and utilities.The importance of ICT
    increased more than any other sector since 2006.
    V)showing that consumers place growing importance on the industry as social contributor.

    2)THE RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIO-ECONOMIC WORLD ARE;
    In today’s academic world,Excel had helped in improving the time management of student,it has helped to Foster holistic look at the data and more accurate decision making,it has helped to Foster more accurate correction,it has also helped in enhanced analytical skills,it helps in seamless data visualization techniques and ideas.

    In today’s SOCIO-ECONOMIC world,Excel has contributed immensely in helping financing and accounting,it has also helped in marketing and product management,it has also helped in human resources planning,it creates revenue growth models for new product based on new customer forecast,Excel has made it easier that u can do anything on a spreadsheet like calculating customer discounts made on monthly purchased volume by product.

  49. 1) Information and Communications Technology (ICT) has an important role in the world and world economies since we are now in the information age era.
    With ICT, the company can make business easier to happen with clients, suppliers and the distributors. It is also very important in our daily lives. The lack of appropriate information at the right time will result in low productivity, low quality research works, and waste of time to pursue information and even to do research which actually others had done or in other countries.
    Nowadays ICT cannot be separated with our daily needs. ICT has a great impact in our daily lives. For example, we can read our local newspapers using the online newspapers and at the same time, still can get connected with our family, relatives, or colleagues in very far places by using the electronic mail, yahoo messenger, call conference, or video conference. Therefore, getting updates information on market trends and stocks and the business environment globally.
    Digital computer and networking has changed our economy concept to the economy with no boundary in time and space because of ICT. It brings a lot of advantages for economic development enabling millions of transactions to happen in an easy and fast way.
    ICT is one of the economic development pillars to gain national competitive advantage.
    It also improve the quality of human life because it can be used as a learning and education media, for example the mass communication media is used in promoting and campaigning practical and important issues, such as the health and social area which provides wider knowledge and can help in gaining and accessing information.
    ICT has become an integral part of everyday life for many people. It increases its importance in people’s lives and it is expected that this trend will continue, to the extent that ICT literacy will become a functional requirement for people’s work, social, and personal lives.
    The use of ICT in education adds value in teaching and learning by enhancing the effectiveness of learning or by adding a dimension to learning that was not previously available. ICT may also be a significant motivational factor in student’s learning and can support student’s engagement with collaborative learning. The digital age has transformed the way young people communicate, network, seek help, access information and learn. We must recognize that young people are now an online population and access is through a variety of means such as computers, TV and mobile phones.
    It is in this premise that educational technology and e-learning is taught in or out of the classroom since educational technology is used by learners and educators in homes, schools, businesses, and other settings
    Information and Communications Technology (ICT) is basically our society’s efforts to teach its current and emerging citizens valuable knowledge and skills around computing and communications devices and softwares that operates them, applications that run on them and systems that are built with them.
    As a matter of fact, we are living in a constantly evolving digital world. ICT has an impact on nearly every aspect of our lives from working to socializing to learning and to playing and passing generational information on world economies and how they interact and operate.

    2) The relevance of using Excel can enhance understanding of content with a graphic presentation of the information; it provides a visual representation of data that makes it easier to decipher and understand.
    Excel reduces the difficulty of plotting graphs and allows students a means for interpreting the data that is being provided.
    Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent.
    Excels ability to dynamically generate charts and graphs in seconds makes it easy to quickly demonstrate relationships between numbers and graphs, this is very relatable in fields that require such tools.
    As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data(e.g pie, bar, donut chart).
    It also provides east storage, one of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over a period of time.

  50. Avatar Nebo Casmir Chukwuemeka says:

    Name: Nebo Casmir Chukwuemeka
    Reg number: 2019/244263
    Department: Economics

    Roles of ICT in Economics and Economic Development:

    The important economic impact of ICT is linked to having a sector producing ICT goods and services. Having such a sector can be important for growth, since ICT-
    production has been characterized by rapid technological progress and very strong demand. The sector has therefore grown very fast, making a large contribution to economic growth, employment and exports. Moreover, having a strong ICT sector may help firms that wish to use the technology, since the close proximity of producing firms might have advantages when developing ICT applications for specific purposes. Having an ICT-producing sector can thus support growth, although previous OECD work has shown that it is not a prerequisite to benefit from the technology.
    An impact of ICT that shows up at the aggregate level is linked to the use of ICT. Several studies have examined the performance of those sectors of the economy that are intensive users of ICT. Most of these are located in the services sector, e.g. industries such as finance, business services and distribution. In some countries, notably the United States and Australia, there is evidence that sectors that have invested most in ICT, such as wholesale and retail trade, have experienced an increase in the overall efficiency of using labour and capital, or multi-factor productivity growth. This could be because these sectors have received productivity gains from ICT use over and above the labour productivity gains they received from investment in ICT, for instance because of network effects.

    Relevance of Excel in academic and socioeconomic world:
    The effective use of ICTs by enterprises can result in greater productivity leading to greater competitiveness and thus sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets. The Internet is dramatically changing the way goods and services are produced, delivered, sold and purchased. It leads to an ever growing number of people and businesses connected digitally, ready to participate in and contribute to the knowledge economy. The use of the Internet empowers weak players in the global economy – such as small business owners in developing countries – by providing them with information, communication and knowledge they could not access before. Trade in goods and services is expanding thanks to new technologies. Evidence shows that growth in ICT goods and services trade has been higher than growth in total trade. In addition, ICTs enable trade in other sectors by enhancing market access and broadening the customer base, facilitating customs, transport and logistics. Most importantly, ICTs play an economic role by changing production processes within firms.
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

  51. Avatar Clement Ann Amaka says:

    Clement Ann Amaka
    2019/245757
    Economics

    Roles of ICT in Economics and Economic Development:
    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.
    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    Relevance of Excel in academic and socioeconomic world:
    With respect to uses of Excel, strategic analysis is where business decisions are closely connected to the data and formulas on spreadsheets. You apply Excel to guide actions such as investments and asset allocations.
    As an example, based on an Excel model, you may decide to take out currency insurance. Spreadsheet analysis is designed to inform business decisions in a specific way.
    Job examples: asset manager – realty management division, mergers and acquisitions valuations – analyst, membership and campaigns strategist, portfolio administration associate, portfolio analyst, portfolio associate – wealth management, portfolio management officer – asset finance.
    Although project managers have access to purpose-built project management (PM) software, an Excel Workbook is often an effective alternative.
    Projects are business activities that typically have a budget and start and end dates. Project plans can be placed into a workbook, which can then be used to track progress and keep the project on schedule.
    An advantage of using Excel is that you can easily share the project workbook to others, including to people who are unfamiliar with, or lack access to, custom PM software.
    Account managers are generally required to be competent MS Excel users since they receive and need to maintain customer records.
    The job of an account manager is to nurture relationships with existing clients of the business. Key goals are to achieve customer loyalty and repeat sales. It’s a marketing kind of role and a popular career for MBA graduates.
    Excel is commonly used in account management since it provides a simple way to share and maintain client files.
    Job examples: account coordinator, advertising manager, design studio account manager, digital account manager, junior account manager.

  52. Avatar Odimbu Gift Awele says:

    Odimbu Gift Awele
    2019/245398
    Economics

    A) Roles of ICT in Economics and Economic Development:
    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.
    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    B) Relevance of Excel in academic and socioeconomic world:
    The effective use of ICTs by enterprises can result in greater productivity leading to greater competitiveness and thus sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets. The Internet is dramatically changing the way goods and services are produced, delivered, sold and purchased. It leads to an ever growing number of people and businesses connected digitally, ready to participate in and contribute to the knowledge economy. The use of the Internet empowers weak players in the global economy – such as small business owners in developing countries – by providing them with information, communication and knowledge they could not access before. Trade in goods and services is expanding thanks to new technologies. Evidence shows that growth in ICT goods and services trade has been higher than growth in total trade. In addition, ICTs enable trade in other sectors by enhancing market access and broadening the customer base, facilitating customs, transport and logistics. Most importantly, ICTs play an economic role by changing production processes within firms.
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

  53. Avatar Okafor Roseline Chugo 2019/248202 says:

    1 THE MULTIFACETED ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    ICTs have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. It contributes to the national GDP and help improve market competitiveness of a country’s goods and services.
    In economy, ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity.
    The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    Also with the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose.
    the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. All these end up promoting economic development

    2 THE RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD
    The knowledge of Excel improves one’s efficiency and productivity:
    Excel is a vital tool for speeding up productivity and allowing workers to be more efficient when dealing with large amounts of data and calculations. When you understand Excel at a more advanced level, you will have the ability to use its more sophisticated tools, which will allow you to complete your tasks and analyze your data more quickly. It will also allow you to keep team members up-to-date on data, which can streamline the workflow process.
    Making You Better at Organizing Data:
    It allows you to carefully organize all of your data while providing you with the ability to sort the information in any way that you choose. Data in a raw state can be overwhelming and hard to analyze. With the advanced capabilities of Excel, you will be able to organize your information better, make calculations when necessary, and sort the information so that it can be appropriately analyzed and transferred to graphs or charts for better viewing.
    It Can Make Job Easier:
    The more proficient at Excel you become, the more quickly you will be able to navigate the system. Microsoft Excel features several shortcuts that can enable you to work faster and even learn more complicated Excel strategies that can be used across the entire suite of Microsoft Office products. You also will be able to use the data in your Excel sheet across a variety of programs, reducing your need to re-enter information and allowing you to streamline your workflow better. The easier your job is, and the better equipped you are to handle it, the more likely you are to enjoy your work. In fact, there have been studies that show happier workers are 20% more productive than their unhappy counterparts. The easier your work is, the happier and more productive of an employee you will be.
    Making Yourself a More Valuable Member of the Company:
    Being a valuable employee not only will provide one with better job security, it opens up opportunities for advancement. The way to make oneself vital to the company is by being more efficient, better educated, and better skilled in your job functions.

  54. Avatar Ezeamama Ifechukwu Emmanuel says:

    Name: Ezeamama Ifechukwu Emmanuel
    Reg Number: 2019/245102
    Department: Economics
    Course Code: ECO 236

    1. Roles of ICT in Economics and Economic Development:
    The strongest evidence for the economic impacts of ICT emerges from firm-level studies. Firm-level data point to factors influencing the impacts of ICT that cannot be observed at the aggregate level. For example, the role of ICT in helping firms gain market share can only be examined with firm-level data, as can the role of organisational change. Over the past years, much progress has been made in developing statistics on the use of various ICT technologies in the economy. In addition, many countries have developed databases that provide detailed and comprehensive data on the performance of individual firms. Combining these two sources of information can help establish a link between firm performance and their use of ICT. Moreover, providing that these databases cover a large proportion of the economy, they can also link the performance of individual firms to that of the economy as a whole.

    2. Relevance of Excel in academic and socioeconomic world:
    Contract administrators like to use MS Excel because it provides a no-fuss means of recording contract details, including dates, milestones, deliverables and payments.
    Many different contract management templates are available, and these can be adapted to suit the particular contract type or stage of the contract lifecycle.
    Job examples: building contract administrator, contracts administrator, estimator / contracts administrator, graduate contracts administrator, lease administrator, quote and tender administrator.
    Excel is a good platform for managing programs. It can be adapted to handle the specific characteristics of a given program. And, because MS Excel is widely known, program records can easily be managed by multiple people and, when the time comes, handed over to a new manager.
    A program is like a project, but may be ongoing and can depend on participation by users. MS Excel helps managers allocate resources, keep track of progress, and maintain participant records.

  55. Avatar Okafor Roseline Chugo 2019/248202 says:

    1 THE MULTIFACETED ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    ICTs have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. It contributes to the national GDP and help improve market competitiveness of a country’s goods and services.
    In economy, ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity.
    The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    In addition, with the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose.
    the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. All these end up promoting economic development.
    2 THE RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD
    The knowledge of Excel improves one’s efficiency and productivity:
    Excel is a vital tool for speeding up productivity and allowing workers to be more efficient when dealing with large amounts of data and calculations. When you understand Excel at a more advanced level, you will have the ability to use its more sophisticated tools, which will allow you to complete your tasks and analyze your data more quickly. It will also allow you to keep team members up-to-date on data, which can streamline the workflow process.
    Making You Better at Organizing Data:
    It allows you to carefully organize all of your data while providing you with the ability to sort the information in any way that you choose. Data in a raw state can be overwhelming and hard to analyze. With the advanced capabilities of Excel, you will be able to organize your information better, make calculations when necessary, and sort the information so that it can be appropriately analyzed and transferred to graphs or charts for better viewing.
    It Can Make Job Easier:
    The more proficient at Excel you become, the more quickly you will be able to navigate the system. Microsoft Excel features several shortcuts that can enable you to work faster and even learn more complicated Excel strategies that can be used across the entire suite of Microsoft Office products. You also will be able to use the data in your Excel sheet across a variety of programs, reducing your need to re-enter information and allowing you to streamline your workflow better. The easier your job is, and the better equipped you are to handle it, the more likely you are to enjoy your work. In fact, there have been studies that show happier workers are 20% more productive than their unhappy counterparts. The easier your work is, the happier and more productive of an employee you will be.
    Making Yourself a More Valuable Member of the Company:
    Being a valuable employee not only will provide one with better job security, it opens up opportunities for advancement. The way to make oneself vital to the company is by being more efficient, better educated, and better skilled in your job functions.

  56. Avatar SAMUEL FRANCESS KENILE says:

    1. The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development.
    ANSWER
    Science, technology and innovation have become key factors contributing to economic growth in both advanced and developing economies. In the knowledge economy, information circulates at the international level through trade in goods and services, direct investment and technology flows, and the movement of people. Information and communication technologies (ICT) have been at the heart of economic changes for more than a decade. ICT sector plays an important role, notably by contributing to rapid technological progress and productivity growth. Firms use ICTs to organize transnational networks in response to international competition and the increasing need for strategic interaction. As a result, multinational firms are a primary vehicle of the ever spreading process of globalization. New technologies and their implementation in productive activities are changing the economic structure and contributing to productivity increases in OECD economies. Economic competitiveness depends on productivity level and in the knowledge economy, ICT sectors determine the productivity level. As a result , we can say that the power of economic competitiveness of a country depends on the productivity of its ICT sector. There are two ways to improve the TFP of ICT and to improve the power of competitiveness. First of all, if the selected countries solve their inefficiency problem by reallocation of resources, they can improve their TFP of the ICT sector and as a result they can be more competitive. Secondly, the technological improvement in these countries creates an expectation about increasing TFP of ICT sector for future. If there will be a sustainable technological improvement by innovation, it will cause a sustainable increase in the TFP of ICT sector and as a result it will cause a sustainable increase in competitiveness.
    2. Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socioeconomic world.
    ANSWER
    Excel is very beneficial for students. Students can learn by using excel how to convert raw data into meaningful information. They will learn by doing exercises in Excel how to perform calculations faster. They will understand by using Excel how data can be visualized. They will learn how to do financial planning. Students can learn why data and information are important to filters.
    They will learn in Excel why how to track goal progressions, how salaries are calculated etc. are essential things they will face and use in the future but if they are practicing on such things using Microsoft Excel earlier in their career, it will be easy for them in the future to handle a large amount of data and information easily and accurately.
    Microsoft Excel application explores productive creativity in students mind. Finance and economics is the most important part of our life. Later they have to work in companies, HR departments, they will run their own business and they have to manage their own daily life finance. Many business owners and people suffer in business due to bad finance or money management. Students will learn such things in Excel, so they can survive or grow above survival in business and career. That’s why Excel can help to build strong financial thinking by managing, performing business and daily life financial calculations.

    SAMUEL FRANCESS KENILE
    2019/250034

  57. NAME: Nwafor Njideka Faustina
    REG NO: 2019/246670
    DEPARTMENT: Economics

    RELEVANCE OF EXCEL IN ECONOMICS
    Microsoft Excel is the industry leading spreadsheet program, used by millions of people all over the world. Excel and other spreadsheet tools are great for data manipulation, analysis, and visualization – you can sort, filter, format, and chart your data all within one program. Want to organize your gradebook and automatically calculate averages? Excel goes a long way of doing more than that provided that we have economic data of countries
    Data is all around us, and it is our job to make sense of it. That is so much easier when you can work with everyone around you, and when Excel helps along the way! Collaborate in real-time with your colleagues and students, either for free with a lightweight online version of Excel or while harnessing the power of the rich desktop app. Excel also has built in natural language, intelligent analysis, and help features to assist you in understanding your data quickly.

    ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    ICT has gradually conquered many various parts of social life and economic processes, e.g. the mobile phone penetration rate averagely exceeds the 95 per cent point and the average worker and household in the developed world features at least one personal computer with access to the Internet, of which a considerable share even uses broadband and wireless access1.

    ICT’s potential has enforced the business world to substitute and modify conventional capital and labour. Though the concomitant slowdown in economic growth has hindered the euphoria, ICT investment and application have increased substantially in both developed and developing countries, but to lesser extent and lower level in developing regions, such as Latin America, Middle East, Africa and Eastern Europe .

    Nevertheless, due to the relative high ICT investment and use, economic processes and trade are more and more influenced by the creation, dissemination, accumulation, processing and application of information and knowledge. ICT’s multidimensional capabilities facilitate extensive innovations in products and processes, and thus lead to a more productive exploitation of capital and labour. ICT’s wide scattered application allows new business models and management practices, new products embedding ICT, easier expansion to global markets and ICT-enabled emergence of new markets. Moreover, the impact is even more far-reaching through spillovers induced by ICT- based networking, and has been much increased by the Internet. Through the diffusion of ICT, transaction costs are reduced and facilitate more productive ways of interaction between businesses and division of labour worldwide. Furthermore, ICT allows an easier interchange of international innovators and dissemination of new technologies, and thus accelerates the invention and circulation of new ideas that in turn trigger further technological change. Due to these network effects the impact of ICT increasingly grows crossing the threshold of ICT uptake and becomes more important than ICT investment and production with regard to contribution to economic growth.

  58. Avatar OFFOR UGOCHUKWU IKENNA says:

    NAME: OFFOR UGOCHUKWU IKENNA
    REG NO: 2019/245050
    GMAIL: ugosagacious@gmail.com
    1. The role of ICT in economics can not be overemphasized. Information and communication technology (ICT), in the simplest way can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    In developing countries, there are two ways in which ICT contribute to economic growth. One is through their manufacturing and another is through their use. As ICT are a combination of various entities, they require manufacturing. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced for Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction. Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of developing countries where they are bought and sold. And just this act of exchange generates millions of dollars in revenue to the government depending on the size of the market. This revenue is economic growth.
    The use of ICT can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICT when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-pain staking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries. It also plays a role in delivering orders with technologies like drones being employed for the purpose of efficiency and breaking a barrier in transportation.
    2. In the socio-economic world, Excel is used to;
    • When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    • Customer discounts can be calculated based on monthly purchase volume by product.
    • It creates revenue growth models for new products based on new customer forecasts.

    In Academics, Excel is used to;

    • As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data.
    • It reduces the difficulty of plotting data and allows students a means for interpreting the data.
    • You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understanding the relationship between the data and the chart.
    • Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent.

  59. Avatar Omeje Jacinta ukamaka says:

    Name: Omeje Jacinta Ukamaka
    Reg no: 2017/250122
    Economics Department.
    ICT AND ECONOMIC GROWTH
    The term ICT which stands for Information Communication Technology, describes the architecture or elements that makes modern computing possible. It could also mean and include all the devices, networking components and systems that enable people communicate in the modern world.
    Economic growth on the other hand is defined as the increase in the production of goods and services from one period of time to another that is, an increase in capital goods, labour force, technology, human capital etc.
    In developing countries today, ICT plays a crucial role as it helps in enhancing their economic growth. In terms of the economy at large, ICT provides information that is very significant to the productivity of a given country and such information helps to increase its economic activity which leads to economic growth.
    Also in the industrial sector where production takes place, with the help of some technologies production of goods has become easier and faster, thereby increasing the amount of production in that country.
    ICT has also helped in transferring production process from a place of low value to a place of higher value. For instance, some business owners with the use of ICT can now upgrade their businesses and even market it online. They use this medium to disseminate information to their buyers and larger sales they can make, the more money for them to increase their production.
    All these mentioned are some of the ways ICT has helped to enhance the economic growth of a country.

  60. Avatar Otutu Chisom Judith says:

    Name: Otutu Chisom Judith
    Reg no: 2019/242963
    Email address: chisomotutu26@gmail.com
    Answers:
    1) information and communication technology, in the simplest way possible can be defined as all the devices, application and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICT can contribute to the national GDP and help improve market competitiveness of a country”s goods and services. In developing countries, there are mainly two ways in which ICT contribute to economic development. One is through their manufacturing and another is through their use.
    ICT role in enabling economic development has become more significant as government are investing to stem the effects of the global financial crisis. Beyond economic benefits, the ICT industry is uniquely positioned to help build a more socially sustainable future. The countries with the most advanced ICT sectors presents the highest level of competitiveness suggesting that having a country enabled by ICT improves the overall performance of its economy in the long run

    2) Microsoft Excel is a wonderful application that can be used to achieve student learning outcomes. As educators start to understand the usefulness of such applications, we predict that a great number of staff will not only ask for training and support on these types of applications but demand it.
    Using Excel can enhance understanding of content within a graphic presentation of the information, it provides a visual representation of data that makes it easier to analyze. Excel reduces the difficulty of plotting data and allows students a means for interpreting the data. With a working knowledge of MS Excel, you’ll be able to organize and manipulate a large amount of data which can otherwise be time consuming, mundane and difficult to do. MS Excel opens a lot of creative avenues for students especially in terms of performing analytics and calculations.
    Excel can help in building strong analytical skills by managing, analyzing and performing business and daily life financial calculations

  61. Avatar Alumona Godwin Okwudili says:

    (1)
    a• ICT helps to improve work efficiency and reduce operating costs;
    b• ICT generates new jobs, associated with broader information processing;

    c• ICT attracts investors and strategic partners, and improves the attractiveness and credibil￾ity of individual regions;

    d• ICT stimulates the formation of companies producing hardware and software;

    f• ICT infrastructure and ICT sector as a whole have strong links with related sectors, which

    can grow resiliently.• every industry is in the process of becoming more knowledge intensive;

    g• smart products, that are based on the use of information or knowledge, are present and
    provide better functionality or service, moreover, premium prices can be charged;

    h• higher information to weight ratios exists in this economy. For example, the financial
    value of United States exports has increased twenty times more, while the physical
    weight of goods exported is about the same;

    i• value in intangibles: it means that the market value of most companies is several times
    higher than the value of their physical assets as recorded in their balance sheets. This is
    basically due to the role of intangibles, such as know-how, information systems, patents
    and brands whose value is not recorded by traditional accounting methods;
    J• trade in intangibles grows in these economies.
    (2)
    a. Graphing
    This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in more visual way. Since the formulae and procedures are incorporated in the package, it is always an easy and time saving to create charts. Unlike other graphing programs, Excel is much more cost effective as it plays many different roles, and can be used for so many different things.

    b. Data organisation
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this buy ativan 2.5 mg effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.

    c. Programming
    When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming.

    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

  62. Avatar Ukaegbu Nneoma Roseline 2019/245510 says:

    (1) THE MULTIFACETED ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    Technological process allows for a more efficient production of more and better goods and services,which is what prosperity depends on.Moreover one would say that ICT has impact in different aspects of economy and economical development as thus:
    *Time factor of money
    ICT saves the time spent in product this making it faster to produce goods and deliver service which contribute to maximize profit in a company thus improving economic growth.
    *Productivity Effectiency
    This deal with output rate of a business which allow for the larger quantities of product through the help of technology.
    *Specialization
    ICT has lead to an increase in the demand of labor and specialization of jobs within a business , further contributing to the efficiency with which a business is able to run.
    *Natural Endowment:
    The assessment of natural resources are made easier by ICT which is use in the most effective way possible to benefit business and the economy.
    *Industrial Development:
    The ever improvement on the state of technology increases the efficiency of labor which leads to higher profit and greater economic development
    *Research:
    Better technology equals to further research into nearly every sector of business and services . Meaning through all sort of technological advancement, economic process can benefit
    *Internet and International Trade:
    When we talk about international trade and job market growth,ICT plays an important role allowing business to share information and
    conduct trade in less time than the blinks of an eye.
    (2) RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD
    Basically the Microsoft Excel is useful tool develop by the Microsoft Office which encompass the academic sector and the socioeconomic sector, students and lectures both uses Microsoft Excel to aid academic process such as data entry and storage,data analysis, reporting and visual presentation, forecasting, collection and verification of business data, administration and managerial duties.
    However for the social economy ,opportunity such as administrative assistant, accountant, retial manger, cost estimator, financial analyst,project manager, business analyst,data journalist are all opportunity available to person with Microsoft Excel skill and knowledge

  63. Avatar Uzoka ikechukwu precious says:

    Uzoka Ikechukwu precious
    2019/249450
    1i. Direct job creation
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

    oo. Contribution to GDP growth

    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    iii. Emergence of new services and industries

    Numerous public services have become available online and through mobile phones. The transition to cloud computing is one of the key trends for modernization. The government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses. ICT has enabled the emergence of a completely new sector: the app industry. Research shows that Facebook apps alone created over 182,000 jobs in 2011, and that the aggregate value of the Facebook app economy exceeds $$12 billion.

    iv. Workforce transformation

    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.

    v. Business innovation

    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2i) Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    ii) Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    iii) Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    iv) Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    v) Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.
    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis. If you want to, you can learn more about this programme and take courses here

  64. Avatar ATTAMA OGECHUKWU LILIAN says:

    NAME: ATTAMA LILIAN OGECHUKWU
    REG NO: 2019/243411
    COURSE: ECO 236

    Questions
    (1) 1.The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development

    (2) Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socioeconomic world.

    Answers
    (1) Although there is no single, universal definition of ICT, the term is generally accepted to mean all devices, networking components, applications and systems that combined to allow people and organizations (i.e., businesses, nonprofit agencies, governments and criminal enterprises) to interact in the digital world. ICT encompasses both the internet-enabled sphere as well as the mobile one powered by wireless networks. It also includes antiquated technologies, such as landline telephones, radio and television broadcast — all of which are still widely used today alongside cutting-edge ICT pieces such as artificial intelligence and robotics.
    One of the prominent characteristics of well-performing developing economies is the large-scale economy-wide diffusion of information and communication technologies (ICT). ICT diffusion, through increased Internet and mobile cellular phone subscriptions, can positively affect economic growth.
    Information and communication technology (ICT) offers the promise of fundamentally changing the lives of much of the world’s population. In its various forms, ICT affects many of the processes of government and business, how individuals live, work and interact, and the quality of the natural and built environment. The development of internationally comparable ICT statistics is essential for governments to be able to adequately design, implement, monitor and evaluate ICT policies (Madueme, 2010).
    Information and Communication Technology (ICT) has now been accepted as one of the main driving force behind organizational competitiveness in the present day business environment. Presently, ICT is having dramatic influence on almost all areas of human activities and one of the areas of economic activities in which this influence is most manifest is the banking sector. The banking industry is one of the critical sectors of the economy which makes invaluable contributions to the pace of economic growth and development of nations (Ajayi, 2003; Madueme, 2010). However, this study seeks to examine the impact of ICT on the Nigerian economic growth and development.
    Most developing nations including Nigeria have embarked on various reforms that foster the use of ICTs in their economies. These reforms tend to yield little or minimal benefits to economic growth and development, especially when compared with the developed countries of the world. Technological advancement is known to impact fast rate of economic development. In Nigeria, policy on adoption of Information and Communication Technologies was initiated in 1999, when the civilian regime came into power of government. The operations of the licensed telecommunication service providers in the country has created some well-felt macroeconomic effects in terms of job creation, faster delivery services, reduced transport costs, greater security and higher national output (Emmanuel and Adebayo, 2011).
    Attempts to ensure sustainable economic development and poverty reduction of most nations usually involve the development of agriculture, mining, industrial as well as the service sectors. The Industrial Revolutions in Europe and America, generally and specifically, have been premised on technological breakthroughs. During the late 1990s, Information and Communication Technology (ICT) was the largest contributor to growth within capital services for both Canada and the United States (Harchaoui, 2002). Similar trend has been observed with the economic development of China, Korea, Taiwan, India, South Africa, and other emerging economic powers (Fuss and Waverman, 2005).
    At the wake of 2000, the Federal Government of Nigeria embarked on an aggressive drive towards the provision of more efficient services in the nation through its privatization and deregulation policies the ICT subsector. The policy thrives led to the establishment of National Telecommunication Policy in December 2001. The policy, among other things, recognized the need for the establishment of an enabling environment for deregulation and rapid expansion of the telecommunication services in the country. The mission statement of the government was to use ICTs for Education, Creation of Wealth, Poverty Eradication, Job Creation, and Global Competitiveness. The policy objective was to develop globally competitive quality manpower in ICTs and related disciplines. This entails developing a pool of ICT engineers, scientists, technicians and software developers. Consequently, attractive career opportunities will emerge in addition to development of software’s and computer components that can earn the nation some foreign exchange. The implementation of ICTs policy led to the adoption of Global System for Mobile-Communications (GSM) and its related components in Nigeria.

    (2). . Excel is a software program created by Microsoft that uses spreadsheets to organize numbers and data with formulas and functions. Excel analysis is ubiquitous around the world and used by businesses of all sizes to perform financial analysis. The use of excel has been of great of great benefit in all spheres of life, especially in academics,socio-economics, businesses etc. in this study, the relevance of Excel in academic and socio-economic world would be mostly emphasized.
    The use of Ms-Excel has been predominant in academic institutions such as primary schools,colleges, high schools and tertiary institutions. This is because it has provided both the teachers and students a better avenue to make there work easier. Ms-Excel offers students alot of benefits in there academic,this will be discussed below in detail:
    (i)In Excel, students can do and learn the fastest way to do the calculation with accuracy: Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy. Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.
    (ii) Microsoft Excel builds strong analytical thinking and skills:
    Microsoft Excel application explores productive creativity in students mind. Finance and economics is the most important part of our life. Later they have to work in companies, HR departments, they will run their own business and they have to manage their own daily life finance. Many business owners and people suffer in business due to bad finance or money management. Students will learn such things in Excel, so they can survive or grow above survival in business and career. That’s why Excel can help to build strong financial thinking by managing, performing business and daily life financial calculations.
    (iii) Students can learn how the calculation is performed:
    We all are seeing data and information in blogs, TV, Newspaper, and books in visuals such as charts, graph, diagrams, and reports. Such as Nigeria Gross Domestic production in which we can find the measurement of how good and services are produced in the year 2016 – 2017 and what are the results. Students can practice current Financial happening in Nigeria in Microsoft Excel. Similarly, the Government budget for 2017 and 2018.

    Excel offers lots of benefits to the Socio-economic world,some of these benefits includes:
    Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.
    Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!
    Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

  65. Avatar ILOH+CHIOMA+SANDRA.+2019/244155 says:

    1. Modern ICT is largely about the capacity to electronically input, store, output and transmit data and information. The efficient use of ICT driving by better high speed internet ( board bank) access to widely recognized to key to raising productivity and stimulating, innovating in the global village. ICT are demonstrated in the positive and significant impact they can have on an economic development by improving the businesses environment in rural areas.
    ICT provides access to market and business information which brings financial services literally to the hands of the rural customers.
    ICT help rural community organize and link themselves.
    ICT has significant roles by promoting entrepreneurship and economic progress in rural areas
    ICT contributes in improving the competitiveness in agriculture and forestry.
    ICT helps existing business you perform tasks more efficiently and effectively and respond to their demands for rapid access to diverse kind of information.
    MAJOR CHALLENGES OF ICT DEVELOPMENT.
    1. Distance barriers
    2. Economic barriers.
    3 information barriers
    4 social barriers
    5 lack of electricity supply.
    6 harsh environment condition.
    BENEFITS OF ICT
    As observed, the networking economy can thus offer individual development in institutions in rural areas.
    Create prospect for employment and open doors to job previously performed in companies like solutions to their business dealing use on electronic exchange system for bargaining market ordering and payment procedures at the internet.

    2. Excel is a spreadsheet program developed in 1984 with the purpose of helping business compile all their financial data yearly, credit, debit to sheet.
    BENEFITS OF EXCEL IN TODAY’S ACADEMY AND SOCIAL WORLD.
    1. Its the best way to store data.
    2. It helps to print report early.
    3. It can be used to performance calculation.
    4. It is used to transfer clean data.
    5. It accumulate free template to use
    6. You can code to automate to data visualization to chart.
    In social world, each helps in ;
    1. Business analysis.
    2.people management.
    3. Performance reporting.
    4. Management operation
    5. Office administration.
    6. Strategic Analysis
    7. Project management
    8. Contract administration
    9. Account management
    With the use of Excel in our academy and social world, Excel is widely effective in having good speed sheets skills. Therefore, gives you the ability to work on all sorts of different tasks. It has become an integral part of the most business organization across the world. It is used in generating memos, tracks, cell trent. It aids a grid interface that allow the users to organize any type of information required. Excel has major advantage which is, its flexibility feature, this is common used for financial related activity. The use of Excel, you can manage a project and meet up with the project deadline.

  66. Name: Nwaigbo Nzubechukwu victory
    Reg no : 2019/247274
    Economics Dept
    1, Roles of ICT in Economics and Economics development.
    Information Communication Technology have become key factor contributing to Economic growth in both advanced and developing Countries. Firms use ICT to organize transnational networks in response to international competition and the need for strategic interaction.
    Beyond Economic benefits, the ICT industry is uniquely positioned to help build a more socially sustainable future. McKinsey’s most recent consumer survey shows that the ICT industry is perceived to be among the top four industries in terms of it’s potential contribution to society behind only healthcare, agriculture, utilities.
    The Countries with the most advanced ICT sectors present the highest levels of competitiveness suggesting that having a country enable by ICT improve the overall performance of it’s economy in the long run . ICT role in enabling economic growth has become more significant as government are investing to stem the effect of the global financial crises.
    In recent years, Progress in ICT has caused many structural changes such as reorganizing of economics globalization and trade extension, which leads to capital flows and enhancing information availability.
    2, The relevance of Excel in today’s academic and socioeconomic world.
    Except is a powerful tool that has become entrenched in business processes and in educational system worldwide whether for analyzing client sales list. Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheet the most. In the 1970s financial analyst run programs let me lotus 1-2-3 manually but now they can perform complex modeling in minute wiht Excel.
    In Human Resource Planning database system like Oracle, SAP can be used to manage payroll and employee information, exporting that data into Excel allow users to discover trends, summarize expenses and hours by pay period, and better understand how workforce is spread out by function and pay level .
    The most important use of MS Excel is using it’s ability for Mass arithmetic calculations. With a vast program full of formula, it can add, subtract, multiply and divide hundreds of numbers altogether and can easily redo it if a value is changed or added. Also Excel is part of the office 365 productivity suite, which means that business employers and their employees can easily access their files over the cloud network, free from the bondage of file transfer.

  67. Avatar UGOCHUKWU GOODNESS ANULIKA says:

    Name: UGOCHUKWU GOODNESS ANULIKA
    Reg No: 2019/244160
    Number 1
    ICT promotes development across many levels. At their most fundamental level, ICT aids organizations to be more productive, thereby implementing economic growth and helping firms be more competitive.
    ️ICT can provide important contribution to public health, from education to surveillances. In education it improves engagement and knowledge retention, when ICT is used in learning students become more engaged in their work. This is because technology provides different opportunities to make it more fun in terms of teaching similar things in different ways.
    ICT has changed the way in which we communicate with each other, how we find needed information, work, conduct business interact with government agencies and how we manage our social life.
    Information Communication Technology(ICT) are essential to reducing poverty, improving access to health and education services and creating new sources of income and employment for the poor. Being able to access and use ICT has become a great factor in driving competitiveness economic growth and development.

    Number 2
    Excel remains relevant till date because it’s part of a great data ecosystem. Many businesses continue to emphasize on the importance of excel skills because it remains as an intelligent as an intelligent way to extract actionable insight. Revenue patterns operations, marketing trends and more can be analyzed through the excel spreadsheet but the real advantage is on the process.
    The most important use of excel is it’s ability to mass arithmetic calculations. With a vast program full of formulae, you can add, subtract, multiply, and divide hundreds of numbers altogether and can easily redo if a number is changed or added.
    It is widely used in finance and accounting because it is easy to use and has a depth of financial functions. It is also used for financial analysis and arithmetic research.

  68. Avatar John Blessing Rosemary says:

    1. ICT sector plays an important role, notably by contributing to rapid technological progress and productivity growth. Firms use ICTS to organize transnational competition and the increasing need for strategic interaction. As a result, multinational firms are a primary vehicle of the over spreading process of globalization. The creation of new technologies and it’s implementation in productive activities are changing the Economic structure and contributing to productivity increases in OECD Economies.
    ICT have really played a very good role in Economics, making the production of goods and services easier. For instance, if goods are to be produced by a firm that can be done faster and easier with the use of ICT. The use of ICT has brought about development in Economics whereby goods that were produced with hand are now produced with the use of machine which makes it faster.
    2. Today excel is used to store information analyses and sorting and reporting. It makes work easy for lecturer’s or teachers when keeping record of results or number of students in a class, this is because the spreadsheet of an excel is highly visual and fairly ease to use. Excel is used also in businesses to manage human resources, performance reporting and operations management. With the use of excel personal information can be stored and retrieved efficiently.

  69. Avatar Ngene Francisca onyeka says:

    NAME: NGENE FRANSCISCA ONYEKA
    DEPARTMENT: ECONOMICS.
    REG. NUMBER: 2019/249518

    SOLUTIONS
    1. ICT has played an important role to economic development and still some of the roles they play are as follows:
    • Fast communication and information acquisition around the globe: Information are available to us anytime through the internet, phone calls, social media and other platforms. Government and firms can easily access information that can enable them to make decision in terms of production and marketing of products. Advertisement has improve immensely through the ICT. people can know about products and also the use or any information relating to that product and can even buy from their owners.
    • Nothing is really lost in the internet: Information can be stored and retrieve aytime. ICT is a useful tool in storing and keeping information in reference to the economy. ICT also reduce the gap between the government and the citizens of a country thereby making it possible for the government to work on the need of the citizens and bringing economic changes.
    In general, ICT brings about increase in productivity. Production are faster, goods are made where they are needed, advertising firms can communicate with other firms in different country and within. GDP can also be calculated.
    2. The role of Excel in our contemporary society.
    • Easy arithmetic solutions: Perhaps the most important use of Microsoft excel in using its ability of mass arithmetic calculations. With a vast program full of formulas, it can add, multiply and divide hundreds of numbers altogether and can easily redo it, if a value is changed or added.
    • Financial services and financial accounting are the area of finance that rely on and benefit from Excel spreadsheet the most: In the 1970s and early 1980s, financial analyst would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like lotus 1-2-3 can perform complex modeling in minutes with Excel.
    • Excel creates revenue growth models for new products based on new customer forecast.

    In summary, Excel is important for easy, fast and accurate record or analysis of data and transactions.

  70. Avatar Nsan Manasseh Osaminen says:

    Eco236
    Name: Nsan Manasseh Osaminen
    Reg no: 2019/249517
    Department: Economics

    1.ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    ICT enables economic growth by broadening the
    reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologiesmake it easier for people to interact and make workersmore productive creates additional benefits.

    A. ICT’s impact on education:
    The ICT sector has already dramatically changed the way people study. A wide range of information is available free on the Internet—something that was unthinkable just 20 years ago.The use of email, websites, and virtual classrooms and libraries has proliferated, facilitating the sharing of information on a large scale.
    Some countries have set specific initiatives to improve education through ICT.

    B. ICT’s impact on healthcare
    The use of ICT for health (e-health) has the potential to transform healthcare by efficiently connecting people and improving information sharing. Currently,e-health is predominantly seen in developed countries. But as the availability of ICT spreads rapidly in the developing world, there is an opportunity to expand healthcare access to areas where distance, poverty, and scarce resources are currently barriers to even basic care.
    Thanks to ICT, doctors can access patients’ medical records more easily, have immediate access to test results from a laboratory, and deliver prescriptions directly to pharmacists. Patients with heart problems can carry monitors, which alert their doctors if their conditions change yet allow them to continue with their daily lives as usual.

    Countries have started to invest in ICT because they know that the sector can have a substantial positive impact on social and economic sustainability. Investing in ICT is a key driver of economic development for emerging and developed markets alike. Figure 3 shows
    the correlation between ICT readiness—the availability of broadband, computers, and software in a country— and competitiveness. The countries with the most- advanced ICT sectors present the highest levels of com- petitiveness, suggesting that having a country enabled by ICT improves the overall performance of its economy in the long run.
    In fact, investing in ICT can help countries increase their annual GDP growth by 0.6–0.7 percent on average, on an annual basis, for each increase of 10 percent in household penetration, as several studies have shown.

    2. THE RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD
    Excel is a powerful tool that has become entrenched in business processes worldwide—whether for analyzing stocks or issuers, budgeting, or organizing client sales lists.
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modeling in minutes with Excel.
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
    Excel is a new-age discovery and has come to stay and made learning and studying easier and the economic world to be more efficient and productive in their doings

  71. Avatar Nwodo Michael Chidera 2019/243281 says:

    Nwodo Michael Chidera
    2019/243281

    1i. Direct job creation
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

    oo. Contribution to GDP growth

    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    iii. Emergence of new services and industries

    Numerous public services have become available online and through mobile phones. The transition to cloud computing is one of the key trends for modernization. The government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses. ICT has enabled the emergence of a completely new sector: the app industry. Research shows that Facebook apps alone created over 182,000 jobs in 2011, and that the aggregate value of the Facebook app economy exceeds $$12 billion.

    iv. Workforce transformation

    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.

    v. Business innovation

    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2i) Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    ii) Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    iii) Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    iv) Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    v) Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.
    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis. If you want to, you can learn more about this programme and take courses here

  72. Avatar Ugwuoke kosisochukwu Precious says:

    1i. Direct job creation
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

    oo. Contribution to GDP growth

    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    iii. Emergence of new services and industries

    Numerous public services have become available online and through mobile phones. The transition to cloud computing is one of the key trends for modernization. The government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses. ICT has enabled the emergence of a completely new sector: the app industry. Research shows that Facebook apps alone created over 182,000 jobs in 2011, and that the aggregate value of the Facebook app economy exceeds $$12 billion.

    iv. Workforce transformation

    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.

    v. Business innovation

    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2i) Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    ii) Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    iii) Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    iv) Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    v) Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.
    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis. If you want to, you can learn more about this programme and take courses here

  73. Avatar Onyisi Sunny Hope says:

    Name: Onyisi Sunny Hope
    Reg No: 2019/251206
    Department: Economics.

    1.ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo- gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    2. *It is used for formulating options including italics, highlighting and colors.
    *Availability of online access
    * Charts for analysis (Ms excel makes it easy to do so)
    * It brings all the data in one place, it allows you to create spreadsheets bigger than 20A1 papers.
    *Human resources planning: its been used to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future .
    * it is used in analyzing data, compilation of results, it is commonly used for creating graphs and pivot tables.

  74. Avatar EDWIN-UGODU STEPHEN CHIDI says:

    EDWIN-UGODU STEPHEN CHIDI
    2019/251264
    ECO 236 ASSIGNMENT
    1. Information and communication technologies (ICT) have been at the very center of economic evolution for more than a decade. ICT sector plays number of important roles, notable of them are:
    (A) Contribution to rapid technological progress and productivity growth. Firms use ICTs to organize transnational networks in response to international competition and the increasing need for strategic interaction.
    (B) As a result, multinational firms are a primary vehicle of the everspreadingprocess of globalization.
    (C) New technologies and their implementation in productive activities are changing the economic structure and contributing to productivity increases in OECD economies.
    (D) . Strengthening competition in ICT goods and services: Economic competitiveness depends on productivity level and in the knowledge economy, ICT sectors determine the productivity level. As a result , we can say that the power of economic competitiveness of a country depends on the productivity of its ICT sector.
    (E) Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede reorganisation or competition between firms also need to be addressed.3. Security and trust: Concerns on security, privacy and authentication continue to affect the
    (F) Barriers to the effective use of ICT in services: Sector-specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.
    (G) Innovation: ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT.
    2. Relevance of excel in academics and socioeconomic world;
    (A) For a higher level of data calculation and manipulation, the use of the function library in Excel is important to utilize.
    (B) Function library in Excel contains Financial, Logical, and text filtration formulas that are most important to practice for every excel learner.
    (C) Excel also provides table styles and conditional formatting options for users. That is very beneficial to the visualization of data in colors, based on a condition in the cells for quality research presentation.
    (D) Easy Arithmetic Solutions: Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations.
    (E) Formatting Options: The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest.
    (F)Availability of Online Access: Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer.
    (G) Charts for Analysis: If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts.
    (H) Bring all the data in one place: Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger.
    (I) Human Resource Planning: Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries.

  75. Avatar ONYEMACHI+CHINAZA+CHIDERA says:

    1.ICT has made impact to the teaching-learning interaction, computer technologies and other aspects of digital culture have changed the ways people live, work, play, and learn, impacting the construction and distribution of knowledge and power around the world. ICT provides diverse options for taking in and processing information, making sense of ideas, and expressing learning. ICT in economics as a course offers teachers more option to create a learning environment that enables students to think in an economic way. It has given students the opportunity to make judgements about their academic progress and to monitor their own learning needs. Visualisation and animation in ICT such as WINECON makes it possible for some economic concepts that are difficult to teach by lecture easy to be taught -fir example, the law of marginal returns and multiplier effect. It has provided opportunities for students/teachers/economists/individuals to think in an economic way. ICT is a key driver of economic development for emerging and developed countries. ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth. ICTs reduce the costs of input and make the production process cheaper and more efficient. ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resourceslCT has also become ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural .
    2. Microsoft Excel is really important in our education system that enhances data management creativity in students mind. Microsoft Excel is an important application in computers that need to be used in the classroom and education. Excel is very beneficial for students. Students can learn by using excel how to convert raw data into meaningful information. They will learn by doing exercises in Excel how to perform calculations faster. They will understand by using Excel how data can be visualized. They will learn how to do financial planning. Students can learn why data and information are important to filters.Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. The most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets. Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediat

  76. Avatar ONYEMA DIVINE OLUCHI says:

    1. The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development.
    ANSWER
    • Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. Is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    • Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    • Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    • Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.

    2. Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socioeconomic world.
    ANSWER
    The relevance of Microsoft Excel in today’s academic and socioeconomic world are:
    • Programming: When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming. When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
    • Excel creates revenue growth models for new products based on new customer forecasts.
    • When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    • When creating a budget for a small product, you can list expense categories in a spreadsheet update it monthly and create a chart to show how close the product is to budget across each category.
    • You can calculate customer discounts based on monthly purchase volume by product.
    • Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

  77. CHUKWUEMEKA FAVOUR CHIDUBEM
    2019/242734
    chidoobem@gmail.com

    Number 1
    * ICT helps in promoting development across many sectors .of the economy. Also,ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms and organizations be more competitive.

    * ICT can generate important contribution to public health, from education to security services. In education it improves engagement and knowledge retention, when ICT is used in learning students become more engaged in their work. This is because technology provides different opportunities to make it more fun and enjoyable in terms of teaching the same thing in different ways.

    Number 2.
    There are so many benefits that comes with using excel from being the best way to store data,you can perform calculations ,easy to data visualizations with charts,you can print reports easily,to storing data with millions of rows. Its benefits are numerous and that is why it is still relevant in the world of academics today. The most relevant use of excel is it’s ability to mass arithmetic calculations.It is widely used in finance and accounting because it is easy to use and has a depth of financial functions.
    Excel is not going anywhere, and businesses will continue to use Excel as a primary tool for diverse functions and applications ranging from IT projects to company picnics.

    A working knowledge of Excel is vital for most office based professionals today, and stronger Excel skills can open the door to promotion and leadership opportunities.

  78. Avatar Odo Chimduto Joy (2019/241990) says:

    1. Multifaceted Roles of ICT in Economics and Economic Development:
    Ans. In recent years, progress in information and communication technology has caused many structural changes. At the present time, ICT has become a serious part of economy, almost all firms and consumers use computers and internet connection for economic purposes.
    Economic growth is the increasing ability of the nation or countries to produce goods and services. ICT has some effects on different economic variables. Infact ICT will influence both supply and demand side of the consumers economic behavior through production functionality that would be affected.
    The function of ICT enables products or goods and services to be produced within a shorter period of time with all the computerized system. It improves efficiency in delivering services rapidly. With the evolution of ICT with best technology and management, ICT is perceived to contribute to economic growth. By enabling ” virtual mobility”, ICT provide the means to undertake many activities that have so far needed physical transport.
    Use of email, e-commerce and online transactions for banking and other activities had tremendoudly reduce the amount of time for transportation, hence, saves money.

    2. Relevance of Excel in today’s academic and socioeconomic world

    -Data Organization

    There is no better wizard in data organisation than MS Excel among the other Office tools.
    Excel allows you to set up tables to add corresponding information and organise data in an easily understandable format.
    All work specific data can be sorted, analysed, compared and retrieved effortlessly with the help of Excel.
    You can create hyperlink cells within a spreadsheet to navigate to a cell you are looking for.
    Helps you highlight the information you would want to see immediately while opening the spreadsheet.
    There are several charts- pie charts, line charts, bar charts, area charts and numerous other charting options- that help visual representation of data.
    Saves time by creating personalised calculators that store your commonly used formulas. Excel makes calculations only a click away.

    -Planning

    Planning is at the heart of every business solution. You might wonder how a complicated set of rows and columns would help make a fantastic business plan. Well, here it is.

    Excel offers calendars to schedule almost anything and everything. Plans for the next month, quarter or perhaps a year can be built with project calendars. templates. Team members can assess these calendars, edited and updated it too.
    You can assess Excel’s goal setting worksheets to keep a check on your progress. Such sheets will also let you assign tasks to others in the team and track their performance. It gives you a clear and concise idea of the financial goals to meet and even makes it achievable.

    -Account Management

    Account managers are needed to be proficient users of MS Excel. They play a key role in business by maintaining customer’s trust and retaining existing clients. Excel makes the job of an account manager lighter by planning budgets, calculating loans and tallying expenditure.

    -Back up Data

    Businesses face setbacks and sometimes this can be unpredictable. MS Excel prepares you for various changes and scenarios in the future. The FORECAST function in Excel is adept at observing seasonal trends and predicting future value. You can create visual forecast worksheets that will enable you to predict an upcoming crisis or growth.

    Relationship building

    MS Excel not only allows swift data management but also lets you maintain strong professional relationships.
    Excel helps one sort and manage names and addresses making it convenient for a mailing list to conduct a campaign/company party.
    One can also do a mail merge to easily print address labels.

    -Human Resource Planning

    If information stored on databases is transferred to Excel it becomes way easier to manage the human resources of a company. Spreadsheets let one understand and calculate employee expenses, their pay per hour and how to manage the workforce spread throughout the company. Massive amounts of employee data can be analysed to take note of the financial gains and loss. This will help control future expenditure if any.

  79. Avatar Ogugu Ihuomachi Oluomachi (2019/242772) says:

    1. Multifaceted Roles of ICT in Economics and Economic Development:
    Ans. Progress in information and communication technology has caused many structural changes such as globalization and trade extension.At the present time, ICT has become a serious part of economy, almost all firms and consumers use computers and internet connection for economic purposes.
    Economic growth is the increasing ability of the nation or countries to produce goods and services. ICT has some effects on different economic variables. Infact ICT will influence both supply and demand side of the consumers economic behavior through production functionality that would be affected.
    The function of ICT enables products or goods and services to be produced within a shorter period of time with all the computerized system. It improves efficiency in delivering services rapidly. With the evolution of ICT with best technology and management, ICT is perceived to contribute to economic growth. By enabling ” virtual mobility”, ICT provide the means to undertake many activities that have so far needed physical transport.
    Use of email, e-commerce and online transactions for banking and other activities had tremendoudly reduce the amount of time for transportation, hence, saves money.

    2. Relevance of Excel in today’s academic and socioeconomic world

    -Data Organization

    There is no better wizard in data organisation than MS Excel among the other Office tools.
    Excel allows you to set up tables to add corresponding information and organise data in an easily understandable format.
    All work specific data can be sorted, analysed, compared and retrieved effortlessly with the help of Excel.
    You can create hyperlink cells within a spreadsheet to navigate to a cell you are looking for.
    Helps you highlight the information you would want to see immediately while opening the spreadsheet.
    There are several charts- pie charts, line charts, bar charts, area charts and numerous other charting options- that help visual representation of data.
    Saves time by creating personalised calculators that store your commonly used formulas. Excel makes calculations only a click away.

    -Planning

    Planning is at the heart of every business solution. You might wonder how a complicated set of rows and columns would help make a fantastic business plan. Well, here it is.

    Excel offers calendars to schedule almost anything and everything. Plans for the next month, quarter or perhaps a year can be built with project calendars. templates. Team members can assess these calendars, edited and updated it too.
    You can assess Excel’s goal setting worksheets to keep a check on your progress. Such sheets will also let you assign tasks to others in the team and track their performance. It gives you a clear and concise idea of the financial goals to meet and even makes it achievable.

    -Account Management

    Account managers are needed to be proficient users of MS Excel. They play a key role in business by maintaining customer’s trust and retaining existing clients. Excel makes the job of an account manager lighter by planning budgets, calculating loans and tallying expenditure.

    -Back up Data

    Businesses face setbacks and sometimes this can be unpredictable. MS Excel prepares you for various changes and scenarios in the future. The FORECAST function in Excel is adept at observing seasonal trends and predicting future value. You can create visual forecast worksheets that will enable you to predict an upcoming crisis or growth.

    Relationship building

    MS Excel not only allows swift data management but also lets you maintain strong professional relationships.
    Excel helps one sort and manage names and addresses making it convenient for a mailing list to conduct a campaign/company party.
    One can also do a mail merge to easily print address labels.

    -Human Resource Planning

    If information stored on databases is transferred to Excel it becomes way easier to manage the human resources of a company. Spreadsheets let one understand and calculate employee expenses, their pay per hour and how to manage the workforce spread throughout the company. Massive amounts of employee data can be analysed to take note of the financial gains and loss. This will help control future expenditure if any.

  80. Avatar Okoro Henry Chukwuebuka 2019/249001 says:

    Name: Okoro, Henry Chukwuebuka.
    Reg no:2019/249001
    Department: Economics.
    1. Roles of ICT in Economics and Economic Development are as follows:
    1. Empowerment:The actions of the public are determined by interaction of political, social and other institutional processes. Archieving access to and and accountability for, public actions requires the collaboration of all groups of society. ICT sees strengthening the ability of poor people to shape decisions that affect their lives and removing descrimination based on gender, race ethnicity as central element of facilitating empowerment.
    2. Opportunity: Material opportunity are central to development many material opportunities (such as jobs, credit,roads, water) are created by development. However, the quality of development is crucial. Mechanism need to be in place to reflect local conditions and to compensate for potential losses during transitions.
    3. Governance: This focuses on the interaction between the state, the private sectors and the civil society and should enable a participatory, equitable and gender balanced, transparent efficient in relation to ICT, a key concern in governance is policy and regulation. Issues such as rural access interconnectivity and monopolies.
    4. Service providers are all key to the potential benefits that poor people get from ICT (directly interms of increased access and better quality service and indirectly, through their role in overall development.

    2. The relevance of excel are as follows:
    1. Easy computation solutions: Ms Excel has the ability to do several numbers of arithmetic calculations. With the help of different formulas, it can add, multiply, substract and divide lots of numbers simultaneously . More, it can easily be redo if the value is changed or added.
    2. Ms Excel is used in schools and colleges to create time tables.
    3. Analysis chart: Ms Excel enables it’s user to create analysis chart easily you can create pie chart or clustered column by filtering and correctly inputting data in just a few clicks.
    4. Options of formatting: Excel has various formatting options like highlighting, Italics, colors etc. That enables businesses to show and bring out the essential data.

  81. Avatar Alozie-Uwa Chidinma Elizabeth (2019/246255) says:

    1. Multifaceted Roles of ICT in Economics and Economic Development:
    Ans. At the present time, ICT has become a serious part of economy, almost all firms and consumers use computers and internet connection for economic purposes.
    Economic growth is the increasing ability of the nation or countries to produce goods and services. ICT has some effects on different economic variables. Infact ICT will influence both supply and demand side of the consumers economic behavior through production functionality that would be affected.
    The function of ICT enables products or goods and services to be produced within a shorter period of time with all the computerized system. It improves efficiency in delivering services rapidly. With the evolution of ICT with best technology and management, ICT is perceived to contribute to economic growth. By enabling ” virtual mobility”, ICT provide the means to undertake many activities that have so far needed physical transport.
    Use of email, e-commerce and online transactions for banking and other activities had tremendoudly reduce the amount of time for transportation, hence, saves money.

    2. Relevance of Excel in today’s academic and socioeconomic world:

    -Data Organization

    There is no better wizard in data organisation than MS Excel among the other Office tools.
    Excel allows you to set up tables to add corresponding information and organise data in an easily understandable format.
    All work specific data can be sorted, analysed, compared and retrieved effortlessly with the help of Excel.
    You can create hyperlink cells within a spreadsheet to navigate to a cell you are looking for.
    Helps you highlight the information you would want to see immediately while opening the spreadsheet.
    There are several charts- pie charts, line charts, bar charts, area charts and numerous other charting options- that help visual representation of data.
    Saves time by creating personalised calculators that store your commonly used formulas. Excel makes calculations only a click away.

    -Planning

    Planning is at the heart of every business solution. You might wonder how a complicated set of rows and columns would help make a fantastic business plan. Well, here it is.

    Excel offers calendars to schedule almost anything and everything. Plans for the next month, quarter or perhaps a year can be built with project calendars. templates. Team members can assess these calendars, edited and updated it too.
    You can assess Excel’s goal setting worksheets to keep a check on your progress. Such sheets will also let you assign tasks to others in the team and track their performance. It gives you a clear and concise idea of the financial goals to meet and even makes it achievable.

    -Account Management

    Account managers are needed to be proficient users of MS Excel. They play a key role in business by maintaining customer’s trust and retaining existing clients. Excel makes the job of an account manager lighter by planning budgets, calculating loans and tallying expenditure.

    -Back up Data

    Businesses face setbacks and sometimes this can be unpredictable. MS Excel prepares you for various changes and scenarios in the future. The FORECAST function in Excel is adept at observing seasonal trends and predicting future value. You can create visual forecast worksheets that will enable you to predict an upcoming crisis or growth.

    Relationship building

    MS Excel not only allows swift data management but also lets you maintain strong professional relationships.
    Excel helps one sort and manage names and addresses making it convenient for a mailing list to conduct a campaign/company party.
    One can also do a mail merge to easily print address labels.

    -Human Resource Planning

    If information stored on databases is transferred to Excel it becomes way easier to manage the human resources of a company. Spreadsheets let one understand and calculate employee expenses, their pay per hour and how to manage the workforce spread throughout the company. Massive amounts of employee data can be analysed to take note of the financial gains and loss. This will help control future expenditure if any.

  82. Avatar MOETEKE EBELE LOUISA says:

    1. The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development.
    ANSWER
    In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. However, empirical studies on this issue have produced mixed results, regarding to different research methodology and geographical configuration of the study.
    At the present time, ICT has become a serious part of economy. Almost all firms and consumers use computers and Internet connection for economic purposes, such as providing consumers with a more diversified and customized products, improving product quality, and selling goods and services. Evidently, the extension of ICT and its influences on economic growth in both developed and developing countries has increased very fast during the last two decades. However, country data on computer, cell phone, and Internet users illustrate different ICT diffusion rates across countries and regions, ICT use indicators illustrate an increasing trend, despite the recent world economic crisis. For example, the steady growth of the number of mobile cellular subscriptions is noticeable, reaching 67 per 100 inhabitants by the end of 2009 globally. This confirms that consumers are willing to continue spending part of their disposable income on mobile services – even at times of financial constraints.
    In fact, ICT is the combination of electronics, telecommunications, software, networks, and decentralized computer work stations, and the integration of information media, all of which impact firms, industries, and the economy as a whole. ICT is comprised of a variety of communication equipment which includes radio, TV, and communication equipment and software. Therefore, ICT investment includes investments in both computer and telecommunications, as well as related hardware, software and services. In high income counties ICT use index has the strongest effect on real GDP per capita among the others while this effect is the lowest in countries with low level of income. Moreover, the performance of the both higher middle and lower middle income groups in the effect of ICT use index is somewhat lagging. Therefore these countries can improve their overall GDP growth with policies aimed at increasing ICT use. Consequently, ICT plays a vital role as a mean for economic growth. Therefore, it seems necessary for all countries to increase their ICT use index through increasing the number of internet users, fixed broadband internet subscribers and the number of mobile subscription per 100 inhabitants in order to boost economic growth. It is also essential for the governments to provide the society with information, up-to-date structures and educate people in order to use ICT efficiently. The major research limitation of this study was the failure to collect data for a longer time period. Therefore future research for a longer time span would shed more light in the assessment of the relationship between ICT use and economic growth.
    2. Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socioeconomic world.
    ANSWER
    The relevance of excel are listed below:
    • Marketing and Product Management: While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your sales force and plan future marketing strategies based on past results.
    • Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
    • Human Resources Planning: While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.
    HR professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.
    • Formatting Options: The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.
    • Availability of Online Access: Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately.
    • Charts for Analysis: If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams.
    • As a teaching tool: Students can see how different types of graphs and charts can be used to represent the same series of data. As one teacher stated, “For years it took me three to five days to teach kids the use a pie chart, bar graph, and/or a line graph to accurately represent information. Now with Excel, it makes it so much easier because the kids are far more motivated to use the application to manipulate data and to chart any information.”
    One of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over time. For example, you can compare data collected by a group of collaborating teachers within one school, one county, or around the world.

  83. Avatar Ifechukwu+Munachiso+victor says:

    1).The role of ICT in economics and economic development can be viewed from many angles, whether the educational sector, health sector and all other sectors in an economy, it can be seen that the difference between the developed and the less developed economies is the use of ICT , as it is largely incorporated into the lives of those in well developed countries in order to improve their productivity and increase the standard of living of the populace, but in order to understand that these aren’t just here say we must delve into them in details .some of the areas in which the effect of ICT has been felt are;
    *Education
    *Economics as an academic field
    *Productivity
    *Investment and the stock market
    *Foreign direct investment
    *Health care
    From the angle of education, which correlates with economic growth, ICT has been used for research in tertiary institutions, as it brings books once far away to the finger tips of the students even in outsourcing educative materials by lecturers and teachers. The assignments as we do now can now be submitted online and this reduces the impact of other unstable factors on the educational growth of the future leaders.
    From the angle of economics, which is the right arm of any nation, the other being the military might for which resources which economics manages is the target of all (or most) conflict, ICT has helped in the sharing of Ideas and the analysis of far more complex problems than ever before and has even grown to the level of the idea of post theory science.
    According to Adam Smith in his classic , wealth of nations, there are two principal causes of resources made available stemming from one root, labour, the productivity of the labour and proportion of those that are employed and according to him the latter is more important than the former I.e. the productivity of labour and ICT is a major factor that boosts the productivity of firms as time lapse in communication has been reduced and training of staff can be done on the go, information on hoe to better work and manage the firm efficiently is now easily accessed .According to Robin c. Sickles et al , the impact of ICT capital on productivity is larger by about 25% to 50% than that of conventional capital.
    From the angle of investment and the stock market , ICT has allowed for the collection of data and for improved decision making, and this has essential to the activities of many investment managers and stock analyst and even in the real estate sectors and firms are the producers of goods which determine economic development. According to a paper by James ogo Emmanuel on the impact of ICT on the Nigerian capital market, there is a significant relationship between information technology and the development of the stock exchanges . This can link to foreign direct investment , as ICT increases investor trust, as they have access to more information and can mitigate some of the risk involved.
    From the angle of health care (if no one is fit to work then economic development is impossible as labour is important in production) the effects cannot pass unnoticed as the presence of ICT has allowed for so many great minds to work together to develop remedies to the many maladies that plague man and to the effective dissemination of information on the presence of these disease outbreaks which can be seen in the not to distant coronavirus, and ebola virus outbreaks. This to a large extent aided the continuation of life as friends met online and medical studies show it has a great cushion effect on the sit at home effect of the pandemic as no man is an island.
    Apart from these you can see the creation of jobs, GDP growth – a 10% increase in broadband penetration is associated with 1.4% increase in GDP growth in emerging markets – and the emergence of new services and industries and even workforce transformation
    The above are but a few Of the infinite contributions of ICT, and it does have its negative aspect, like in the development of nuclear weapons and the spread of extremist ideologies, but borrowing from the philosophers, Abusus Non Tollit Usum – latin for “The abuse doesn’t take away from the use” and the good does outweigh the bad.
    2.). Among the computer programs which exist, Microsoft Excel is one of the most useful as it is convenient and cost effective to use . And therefore is the most used spreadsheet program in many business activities, classwork and even personal data organization. In business, literally, any function in any industry can benefit from those with strong Excel knowledge. Excel is a powerful tool that has become entrenched in business processes worldwide and from the data generation to the presentation of the data to an audience from the masses to the business executives . And this has aided in large data crunching and the advancement of man through the exposure of a lot of correlations. Excel is also needed to input data into statistical packages like E-views and STATA.
    In the classroom, Excel reduces the difficulty of plotting data and allows students a means for interpreting the data. You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This in turn saves time and allows the student time to deal with more complex and real world operations than would have been possible otherwise. According to the medium career guide, To sum up, the broad benefits of learning Excel for students include faster and more accurate decision making, quick calculations, seamless data visualization, and a lot more.
    In today’s world the socioeconomic status of an individual effects his or her behaviors ,but with excel being convenient and cost effective (even the big business executives have to think of costs), everybody easily has access to it and thereby everyone has equal opportunities, and even the small store can utilize it to operate more optimally same as a big firm , it thereby helps the world at large to operate in better and efficient ways and for man to understand his world better.

  84. Avatar Abasilim Chisom Judith says:

    Name: Abasilim Chisom Judith
    Reg no: 2019/249128
    Email: abasilimchisom@gmail.com

    1. Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organizations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilization of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps to provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    ICTs plays numerous roles in economics and economic development, below are some of the functions that is carried out to improve a nation’s economy;
    Setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth, this is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    ICTs vastly increases access to data and information crucial to supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    The use of ICTs can also make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energize domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    ICTs can also help to upgrade the production process of a country. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernized with various e-payment platforms being utilized. Thus, the whole process gets upgraded in value.
    Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.se of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.

    2. Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations there’s a lot that Excel offers to its users.
    With a working knowledge of MS Excel, you’ll be able to organize and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do. Excel has, over the years, grown to become the skill that manifolds increase one’s chances of securing a job. If you’re a fresher with knowledge of Excel, you can start your career as an analyst. Further, if you’re aiming to work in the business sector, you’ll definitely need to ace Excel in order to manage finances, human resources, and inventory.
    MS Excel has empowered students for years and also improved the socio economic activities in the world, and continues to do so.
    Excel helps in time management, If you’re a student or you’re looking to successfully own and run a business, or even work in the corporate world, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy. You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    Also, when you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.
    Furthermore, with the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    If even before you’ve joined a corporate, you’re good with finances management, and using Excel to perform analytics, you’ll be an asset for the company you go to. Further, chances are the organization you’ll enter already uses Excel or some similar software. So, with your working knowledge, you’ll be all set to leave your mark in the professional world
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.
    In the form of pie charts, bar charts, histograms, and more, you can display all your data, findings, and future patterns in a visually attractive manner. In doing so, you’ll ensure that everybody in your organization — from marketing teams to sales teams, from engineers to higher management — is on the same page in terms for all the data, predictions, and decisions.
    In Conclusion
    Microsoft Excel is an extremely important tool, and it finds a role in almost all fields of work these days. To sum up, the broad benefits of learning Excel for students include faster and more accurate decision making, quick calculations, seamless data visualization, and a lot more
    Excel is a vital tool for speeding up productivity and allowing workers to be more efficient when dealing with large amounts of data and calculations. When you understand Excel at a more advanced level, you will have the ability to use its more sophisticated tools, which will allow you to complete your tasks and analyze your data more quickly.

  85. Avatar Chukwukaodinaka John Oluchukwu 2019/245518 says:

    1)THE MULTIFACETED ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT
    Answer:
    The efficient use of ICT, driven by better high-speed internet (broadband) access, is widely recognised as key to raising productivity and stimulating innovation in the global village. During the last decade, largely due to the spread of mobile phone technology in rural areas, ICTs have demonstrated the positive and significant impact they can have on economic development by improving the business environment in rural areas. ICT provides access to market and business information, brings financial services literally to the hands of rural consumers, helps local communities organise and link themselves, and, through the connection with others, exchange know-how and ideas. ICT plays a significant role in promoting entrepreneurship and economic progress in rural areas, contributing to improve the competitiveness of agriculture and forestry, the quality of life and diversification of the rural economy. High-quality Internet provision helps unlock the potential of rural areas, and thus makes them more attractive places to live. ICT helps existing businesses to perform tasks more effectively and efficiently and respond to their demand for rapid access to diverse kinds of information.

    2)THE RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD.

    Answer:
    Social economics, also known as socioeconomics, is the social science and branch of economics that studies the interrelation between economic activity and social behavior. Social economics analyzes how the economy is affected by social norms, ethics, sentiments, and other factors.
    Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy.Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. By using such a tool they will learn how to validate, consolidate, group, import and explore data and information in a computer using Microsoft Excel faster with accuracy.

  86. Avatar Nwadike Mmesoma Vivian says:

    1: ICT has the potential to affect many aspects of economic and societal activities such as GDP growth, employment, productivity, poverty alleviation, quality of life, education, and healthcare.The development of Information and Communication Technologies (ICT) has strong potential to transform economies and societies in several ways, such as reducing information and transaction costs, creating new collaborative models to increase the efficiency of workers, promoting innovation, and improving education and many more

    2: Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations — there’s a lot that Excel offers to its users.
    With a working knowledge of MS Excel, individuals will be able to organise and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do.

  87. Avatar Francis+chinedu+Michael says:

    Francis chinedu Michael
    2019/244161
    michael23fc@gmail.com
    1
    i. ICT enhances development across many dimensions. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive.
    ii.Information Communication Technology(ICT) is important to subside poverty, improving access to health facilities and education services and creating new sources of income and employment for the poor. Being able to access and use ICT has become a major factor in driving competitiveness economic growth and development.
    iii. ICT has improve communication skills with each other, how we find helpful information, work, conduct business interact with government agencies and how we manage our social life.

    2.
    Excel remains valid till date because it’s part of a larger big data ecosystem. Many businesses continue to emphasize on the importance of excel skills because it remains as an intelligent as an intelligent way to extract actionable insight. Business finances and more can be analyzed through the excel spreadsheet but the real advantage is on the process.
    The most relevant use of excel is it’s ability to mass arithmetic calculations. With a vast program full of formulae, you can add, subtract, multiply, and divide hundreds of numbers altogether and can easily redo if a number is changed or added.
    . It is also used for financial analysis

  88. Avatar EZE DANIEL UCHENNA says:

    Name: Eze Daniel Uchenna
    Reg no: 2018/244280
    Email: ezedaniel021@gmail.com
    1. ICT has various roles it plays in the economy at large with regards to economic development. It is very important because it has made it convenient for information to be passed with ease and as a result globalizing the economy and making the world a smaller place. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive. ICT can generate important contribution to public health, from education to surveillances. In education it improves engagement and knowledge retention, when ICT is used in learning students become more engaged in their work. This is because technology provides different opportunities to make it more fun and enjoyable in terms of teaching the same thing in different ways. Also successful implementation of ICT to lead change is more about influencing and empowering teachers and supporting them in their engagement with teachers in learning rather than acquiring computer skill. In conclusion the impact of ICT on the economy cannot be over looked because it has obviously changed the way information is passed between parties involved.
    2. Excel is very relevant till date because it’s part of a larger data ecosystem. Many businesses continue to speak on the importance of excel skills because it remains as an intelligent way to extract actionable insight. Revenue patterns operations, marketing trends and more can be analyzed through the excel spreadsheet but the real advantage is on the process in which the data is analyzed.
    The most relevant use of excel is it’s ability to mass arithmetic calculations. With a vast program full of formulae, you can add, subtract, multiply, and divide hundreds of numbers altogether and can easily replicate if a number is changed or added.
    It is widely used in finance and accounting because it is easy to use and has a depth of financial functions. It is also used for financial analysis.

  89. Avatar Ihechukwu+Chukwuebuka+Manasseh+2018/251195 says:

    1. Advance economies are becoming knowledge based economies in an increasing scope in the context of generation, using and dissemination of knowledge because of the fast improvements in science and technology. As a result of this progress, the importance of knowledge as a production factor is increasing. In such an economics based on knowledge networks, the engine of economic growth and development is knowledge, not physical goods or natural resources. Knowledge economics is a term that is used to define an economic system in which the knowledge is generated, disseminated and used by firms, institutions, individuals and society to reach an advance social and economic development.
    Because of the pressure of global competition, firms are both increasing the scope of using the technology, especially information and communication technologies (ICT), and try to adopt their organizational structures to the process of knowledge economics (Kelleci, 2003:4). In the knowledge economy, the most important issue is to generation, using and dissemination of knowledge. That issue gives ICT sector a vital importance because ICT sector is the fastest way of using and disseminating knowledge. As a result, we can say that the power of economic competitiveness of a country depends on the productivity of its ICT sector.
    On the other hand, conomic growth is the increasing ability of the nation or countries to produce good and service quoted by Miles (2001). The function of ICT enabling products or goods of services to be produced within a shorter period of time with all the computerised system. It improves efficiency in delivering services rapidly. With the evolution of ICT with best technology and management practice coupled with the increasing use of labor, land, capital and resources available, ICT is perceived to contributes to the impact of economy growth, thus resulting in development of countries growth by technology. ICT are becoming major factor for economic growth. By enabling “virtual mobility”, ICT provide the means to undertake many of the activities that have so far needed physical transport quote by (Lake, 2004). Use of email , e-commerce and online transaction for banking or any other activities had tremendously reduce the amount of time for transportation, hence, saves money.
    Furthermore, It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve standards of living, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    However, the many roles in which ICT plays in economics and economic growth can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.

    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.

    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    However, this is not an unlimited scope and ICTs do have limitations, especially in the area of information failures. In ICTs, all routes to economic growth pass through the domain of information and unfortunately, this very domain of information is limited in developing countries by five types of information failures, namely absence, poor quality, uncertainty, asymmetry and cost of information.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.

    2. Effective use of computers and spreadsheets in teaching does not imply wholesale substitution or elimination of other modes of instruction. Teachers should strive to distribute content in a wide variety of ways to maximize sensory stimulation. Students should avoid massed practice and cramming, which feels like good, hard work, but produces an illusion of knowing that is not true. Steady, repeated, spaced practice and effortful retrieval is the key to studying well. Spreadsheets are perfect for this. It is easy to generate different problems (with varying parameter values) that reinforce concepts. As Brown and colleagues (2014, 75) pointed out, after we anchor a memory, “we must associate the material with a diverse set of cues that will make us adept at recalling the knowledge later.” The physical act of moving the cursor, clicking on a chart element, entering a formula, and seeing the results provide the student with powerful signals that help deeply embed knowledge.
    Surely, all of these requires a great deal of work, but we know that “learning is deeper and more durable when it’s effortful” (Brown et al. 2014, 3). Retrieval practice that is interleaved and spaced out is by far the most effective way to learn. During a semester of intermediate microeconomics, for example, analyzing a constrained utility maximization model with graphs, equations, and Excel’s Solver and then using these same tools for constrained cost minimization and again for profit maximization (for perfect competition and monopoly) is a perfect application of modern learning theory. The material is tested, which is essentially retrieval practice, so the student gets feedback on mastery and then repeated to entrench the material in the brain. Neuroscientists would point out that the process of repeating the steps in a comparative statics analysis (initial, shock, new, compare) in a variety of applications forces reloading and digs deeper, more durable memory pathways; just like when we recall and retell a story, it gets easier to remember it. As Medina (2008, 146) pointed out, “Memory is not fixed at the moment of learning, and repetition provides the fixative.”

    However, there is another level of mastery beyond the basic spreadsheet, and it is at this next stage that Microsoft Excel proves to be an optimal pedagogical choice for economics majors. By using Excel to deliver content, the student not only better learns economics, but the familiarity gained with the software is of great practical value.
    Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy.

    Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.
    Today, Data management and visualization in business is the most important thing. In future students will work in organizations and companies, in that they will find it comfortable to deal with data and information.
    Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. By using such a tool they will learn how to validate, consolidate, group, import and explore data and information in a computer using Microsoft Excel faster with accuracy.

  90. Avatar Okeke+Justice+Nnamdi.+(2019/242943) says:

    1.
    ICT’s role in enabling economic growth has become more significant as governments are investing to stem the effects of the global financial crisis. As US President Barack Obama noted in January 2009, “Increased broadband spending, electronic medical records, green energy investments, and new computers for schools and libraries are all smart ways to keep America competitive while also creating new jobs and spending”. And UK Prime Minister Gordon Brown has likened his government’s efforts to extend the country’s digital infrastructure to “the roads and the bridges and the railways that were built in previous times to stimulate the economy”. They are far from alone—Korea, Rep. (Korea) has long been a leader in broadband investment, and today countries from Greece to Malaysia have committed large amounts of money to develop their ICT sectors. Beyond economic benefits, the ICT industry is uniquely positioned to help build a more socially sustainable future. McKinsey’s most recent consumer survey shows that the ICT industry is perceived to be among the top four industries in terms of its potential contribution to society behind only healthcare, agriculture, and utilities .The importance of ICT increased more than any other sector since 2006, showing that consumers place growing importance on the industry as social contributor. And the recent crisis

    2.
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.

  91. Avatar Chukwuemeka Chinenye Goodness says:

    1: The effective use of ICTs by enterprises in an economy has a high rate of resulting in greater productivity leading to greater competitiveness which in turn leads to sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets.

    2: The following are some of the importance of excel in the society as well as our day to day lives.
    – Easy arithmetic solution: the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added.
    – In a large association where the boss wants the workers to give detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click.
    – Excel aids the human resource department of an organization summarise each employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  92. Avatar Idajor John Ayuochieyi says:

    NAME: IDAJOR, JOHN AYUOCHIEYI
    DEPARTMENT: ECONOMICS.
    REG. NUMBER: 2019/248707

    The role of the ICT industry as a whole is one of the factors leading to the fast development of many countries due to the availability of quick creation of awareness and dissemination of information.

    In terms of the roles played by the ICTs in the economy and the economic development, I can say that its role is diverse in the economy in which without the whole economy will be left with no development. Below are some of the multifaceted roles of ICT to the development of the economy.
    • By contributing to rapid technological progress and productivity growth: With the advancement of ICT in our contemporary world, the means of rapid technological progress and productivity growth has been enhanced in the sense that, firms in different parts of the world get information about different techniques of fast and quality production of goods and also the knowledge about the places in which such goods produced are needed which leads to supply of such goods to areas of demand.
    ICT contributes to rapid technological progress in so many ways that has led to different fast techniques of production of goods and rendering of services to the nation. For instance, in Nigeria, during the pre colonial periods, Nigeria based its source of income on agriculture and mainly for consumption, but with the coming of the colonial masters they got to know about using of such goods for other things when they undergo processing in industries. As time went on, Nigeria startedexporting goods to other countries for final production, but today with the help of ICT, some of those goods exported for final production are now being converted into final goods in the country and exported out therefore yielding more benefit to the country.ICT is responsible for the determination of the level of productivity in the country, for a country to be competitive, there is a need for active stadadization of the ICT unit in the country. ICT makes it possible for the country to know if they are lacking behind other nations or not, by so doing, it leads to competition among nations and boost their competence.
    • ICT serve as retrival of useful information to the economy: Another importance of ICT to the economy is the retrieval of valuable information to the economy. As changes occur, some relevant information are lost, when such information are needed, the ICT which is made up of internet, social media, etc which is a useful tool in storing and keeping information now serve as the point of reference to the economy. It keeps information that will be of great use to the economy such as providing information on how to carryout production in a country, and how to manage the economic resources of the country in order to attain a maximum satisfaction of goals. It also relates information on different ways the government can Carter for the need of the citizens with less expenses.
    All these information from the ICT is made available not only on the bases of the country’s limit but gathering stored up ideas from other nations and relating such to the country for it to select the best out of it.
    • Low cost on communication and information acquisition: The role of ICT in this aspect is to a very large extent. ICT has now made communication possible at the tip of our fingers in diverse ways such as text messages, phone calls, social media and others. The government spends less on communication with other nations in order to get information and market their products. Also, current information are always made available to the government which enable them to know their stand and to navigate ways of speeding up production and competition with other nations.
    ICT not only regulate information from outside the nation, but also within the nation. With the availability of current information in the country, both the citizens and the government work in cordial union with each other. It helps the government to know when the citizens are lacking some basic infrastructural and superstructural facilities and also gives the government hints on the best ways to govern the country.
    With information from the ICT, different units in the country such as families, peer groups and others navigate ways and through the help of information acquisition from the ICT come up with different business ideas which make them selfemployed and as such contribute to the growth and development of the economy. Example of such is Downgote business group in Nigeria.

    In summary, the usefulness of ICT in the economy and in economic development cannot be Over emphasized. ICT is seen as the bedrock of any nation which determines and checkmates the level of economic dependence of the nation and also leads to speedy growth in productivity and competence of a nation with other nations. ICT is the watchdog of a nation’s growth, and as such determines the GDP of such nation. To this end, I can say that the role of ICT in an economy and in economic development is to a very large extent.
    2. Looking at the relevance of Microsoft excel from the two points of view of the academic and the socioeconomic perspective, there is need to ascribe applauds and appreciation to such technician who came up with such software. The use of Microsoft excel has ammeliorated the problem of quick calculation of vast numerical data in companies and different sector in our contemporary world likewise in academic and socioeconomic environment. Below are a little scrap of the vast roles played by Microsoft excel in our contemporary society.
    • Easy arithmetic solutions: In most schools and academic environments in our contemporary world, the use of computers to solve problems is always available. One of such is Microsoft excel which is capable of calculating diverse numerical data using different formulas and arriving at the exactness of such calculations. In academic fields like economics, mathematics, engineering and others, the use of Microsoft Excel cannot be downtroden. With its assistance, lecturers are able to compile student’s results in a couple of minutes.
    • For keeping of account: Another vital aspect of excel is the keeping of account in companies. In this present days, any body that calls himself an accountant must have the basic knowledge of Microsoft excel in order to keep and give appropriate account in an organization. The use of Microsoft excel application makes it easy for managers to store and secure their book keeping not minding the risk of misplacing such records. Also, small business men and women make use of excel in their businesses.
    • Human Resources Planning: The use of Microsoft excel by human resource planners is great and easy going for them, as a human resource planner, you have to make plans on how to pilot the affairs of an organization from the basic needs to the tail-end needs of such organization in order to encourage workers and ensure active participation of workers in the organization. All these functions which rest on the shoulders of the human resource planner is being ammeliorated with the use of Microsoft excel. For anyone to be called a human resource manager, he or she must have a fair knowledge of Microsoft excel in order to enable him pilot the affairs of the organization with ease and accuracy.

    In summary, excluding Microsoft excel from existence in this contemporary world of ours can be said to be a great crime against the socioeconomic and the academic aspect of our time because, with the help of excel application, most difficulties in the accuracy of accounting has been ammeliorated. Companies and super markets are now enjoying the comforting bliss which Microsoft excel offers to their business. Private business owners, universities and all other academic sections have an untold records of the invaluable worth of Microsoft excel. To this end, I can say that Microsoft excel packet is necessary to everyone that calls himself a student and those that works in financial institutions, and therefore it should not be overlooked.

  93. Avatar Idajor John Ayuochieyi says:

    NAME: IDAJOR, JOHN AYUOCHIEYI
    DEPARTMENT: ECONOMICS.
    REG. NUMBER: 2019/248707

    SOLUTIONS
    The role of the ICT industry as a whole is one of the factors leading to the fast development of many countries due to the availability of quick creation of awareness and dissemination of information.

    In terms of the roles played by the ICTs in the economy and the economic development, I can say that its role is diverse in the economy in which without the whole economy will be left with no development. Below are some of the multifaceted roles of ICT to the development of the economy.
    • By contributing to rapid technological progress and productivity growth: With the advancement of ICT in our contemporary world, the means of rapid technological progress and productivity growth has been enhanced in the sense that, firms in different parts of the world get information about different techniques of fast and quality production of goods and also the knowledge about the places in which such goods produced are needed which leads to supply of such goods to areas of demand.
    ICT contributes to rapid technological progress in so many ways that has led to different fast techniques of production of goods and rendering of services to the nation. For instance, in Nigeria, during the pre colonial periods, Nigeria based its source of income on agriculture and mainly for consumption, but with the coming of the colonial masters they got to know about using of such goods for other things when they undergo processing in industries. As time went on, Nigeria startedexporting goods to other countries for final production, but today with the help of ICT, some of those goods exported for final production are now being converted into final goods in the country and exported out therefore yielding more benefit to the country.ICT is responsible for the determination of the level of productivity in the country, for a country to be competitive, there is a need for active stadadization of the ICT unit in the country. ICT makes it possible for the country to know if they are lacking behind other nations or not, by so doing, it leads to competition among nations and boost their competence.
    • ICT serve as retrival of useful information to the economy: Another importance of ICT to the economy is the retrieval of valuable information to the economy. As changes occur, some relevant information are lost, when such information are needed, the ICT which is made up of internet, social media, etc which is a useful tool in storing and keeping information now serve as the point of reference to the economy. It keeps information that will be of great use to the economy such as providing information on how to carryout production in a country, and how to manage the economic resources of the country in order to attain a maximum satisfaction of goals. It also relates information on different ways the government can Carter for the need of the citizens with less expenses.
    All these information from the ICT is made available not only on the bases of the country’s limit but gathering stored up ideas from other nations and relating such to the country for it to select the best out of it.
    • Low cost on communication and information acquisition: The role of ICT in this aspect is to a very large extent. ICT has now made communication possible at the tip of our fingers in diverse ways such as text messages, phone calls, social media and others. The government spends less on communication with other nations in order to get information and market their products. Also, current information are always made available to the government which enable them to know their stand and to navigate ways of speeding up production and competition with other nations.
    ICT not only regulate information from outside the nation, but also within the nation. With the availability of current information in the country, both the citizens and the government work in cordial union with each other. It helps the government to know when the citizens are lacking some basic infrastructural and superstructural facilities and also gives the government hints on the best ways to govern the country.
    With information from the ICT, different units in the country such as families, peer groups and others navigate ways and through the help of information acquisition from the ICT come up with different business ideas which make them selfemployed and as such contribute to the growth and development of the economy. Example of such is Downgote business group in Nigeria.

    In summary, the usefulness of ICT in the economy and in economic development cannot be Over emphasized. ICT is seen as the bedrock of any nation which determines and checkmates the level of economic dependence of the nation and also leads to speedy growth in productivity and competence of a nation with other nations. ICT is the watchdog of a nation’s growth, and as such determines the GDP of such nation. To this end, I can say that the role of ICT in an economy and in economic development is to a very large extent.
    2. Looking at the relevance of Microsoft excel from the two points of view of the academic and the socioeconomic perspective, there is need to ascribe applauds and appreciation to such technician who came up with such software. The use of Microsoft excel has ammeliorated the problem of quick calculation of vast numerical data in companies and different sector in our contemporary world likewise in academic and socioeconomic environment. Below are a little scrap of the vast roles played by Microsoft excel in our contemporary society.
    • Easy arithmetic solutions: In most schools and academic environments in our contemporary world, the use of computers to solve problems is always available. One of such is Microsoft excel which is capable of calculating diverse numerical data using different formulas and arriving at the exactness of such calculations. In academic fields like economics, mathematics, engineering and others, the use of Microsoft Excel cannot be downtroden. With its assistance, lecturers are able to compile student’s results in a couple of minutes.
    • For keeping of account: Another vital aspect of excel is the keeping of account in companies. In this present days, any body that calls himself an accountant must have the basic knowledge of Microsoft excel in order to keep and give appropriate account in an organization. The use of Microsoft excel application makes it easy for managers to store and secure their book keeping not minding the risk of misplacing such records. Also, small business men and women make use of excel in their businesses.
    • Human Resources Planning: The use of Microsoft excel by human resource planners is great and easy going for them, as a human resource planner, you have to make plans on how to pilot the affairs of an organization from the basic needs to the tail-end needs of such organization in order to encourage workers and ensure active participation of workers in the organization. All these functions which rest on the shoulders of the human resource planner is being ammeliorated with the use of Microsoft excel. For anyone to be called a human resource manager, he or she must have a fair knowledge of Microsoft excel in order to enable him pilot the affairs of the organization with ease and accuracy.

    In summary, excluding Microsoft excel from existence in this contemporary world of ours can be said to be a great crime against the socioeconomic and the academic aspect of our time because, with the help of excel application, most difficulties in the accuracy of accounting has been ammeliorated. Companies and super markets are now enjoying the comforting bliss which Microsoft excel offers to their business. Private business owners, universities and all other academic sections have an untold records of the invaluable worth of Microsoft excel. To this end, I can say that Microsoft excel packet is necessary to everyone that calls himself a student and those that works in financial institutions, and therefore it should not be overlooked.

  94. Avatar ONUGWU UZONNA MICHAEL 2019/245479 says:

    NAME; ONUGWU UZONNA MICHAEL
    REG NO. 2019/245479
    Email; onugwuuzonna001@yahoo.com
    answers,
    1). i__Due to the invention and continuous development in ICT, the world have become a global market. You don’t necessarily need to travel out of your state or out of your country to make business transactions, many markets and businesses have been established online where buyers and sellers can meet and make business transactions faster.
    ii__Direct job creation; ICT has being one of the major job employers in Nigeria. Over the years there have been an increasing numbers of employees online.
    iii__Contribution to GDP growth; various countries have confirmed the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    2). THE IMPORTANCE OF EXCEL TO STUDENTS
    The importance of excel in education and in the socio-economic world can not be over emphasized, the benefits of learning Excel for students include faster and more accurate decision making, quick calculations, seamless data visualization, and a lot more. Many students across the globe are waking up to these benefits and starting to master the art of Microsoft Excel.
    THE IMPORTANCE OF EXCEL IN BUSINESS
    Excel allows you to manage the human resources in your business in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  95. Avatar Nwafor Emmanuel Onyedikachi says:

    Nwafor Emmanuel Onyedikachi, 2019/250914, emmanuel.nwafor.250914@unn.edu.ng.

    1. ICT is treated as an efficient channel for firms to gain access to advanced technological information. As an instrumental input, ICT effectively interacts with knowledge sources for innovation and further enhances innovation performance.
    Organization learning theory suggests that the adoption of ICT practices increases the effectiveness of both internal R&D and external technology purchasing.
    ICT is a channel for accumulating an organization’s capabilities, such as its ability to acquire knowledge and its propensity for integration, learning and development.
    ICT technologies generate on average substantially larger knowledge spillovers than those generated by other technology areas and this holds even when ICT is compared to other frontier fields such as biotech and clean energy.
    For instance, as part of the results below we find that wireless technologies generate on average more than 50% higher knowledge spillovers than other comparable fields. This calculation is based on a monetary estimate of spillovers that extends the basic framework of the Page Rank based analysis.
    2. i. Data organisation
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.

    ii. Programming
    When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming.

  96. Avatar Nwokafor Chidera Claire says:

    Name: Nwokafor Chidera Claire
    Reg Number: 2019/249161
    Department: Economics
    Course Code: ECO 236

    Roles of ICT in Economics and Economic Development:

    The important economic impact of ICT is linked to having a sector producing ICT goods and services. Having such a sector can be important for growth, since ICT-
    production has been characterized by rapid technological progress and very strong demand. The sector has therefore grown very fast, making a large contribution to economic growth, employment and exports. Moreover, having a strong ICT sector may help firms that wish to use the technology, since the close proximity of producing firms might have advantages when developing ICT applications for specific purposes. Having an ICT-producing sector can thus support growth, although previous OECD work has shown that it is not a prerequisite to benefit from the technology.
    An impact of ICT that shows up at the aggregate level is linked to the use of ICT. Several studies have examined the performance of those sectors of the economy that are intensive users of ICT. Most of these are located in the services sector, e.g. industries such as finance, business services and distribution. In some countries, notably the United States and Australia, there is evidence that sectors that have invested most in ICT, such as wholesale and retail trade, have experienced an increase in the overall efficiency of using labour and capital, or multi-factor productivity growth. This could be because these sectors have received productivity gains from ICT use over and above the labour productivity gains they received from investment in ICT, for instance because of network effects.

    Relevance of Excel in academic and socioeconomic world:
    The effective use of ICTs by enterprises can result in greater productivity leading to greater competitiveness and thus sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets. The Internet is dramatically changing the way goods and services are produced, delivered, sold and purchased. It leads to an ever growing number of people and businesses connected digitally, ready to participate in and contribute to the knowledge economy. The use of the Internet empowers weak players in the global economy – such as small business owners in developing countries – by providing them with information, communication and knowledge they could not access before. Trade in goods and services is expanding thanks to new technologies. Evidence shows that growth in ICT goods and services trade has been higher than growth in total trade. In addition, ICTs enable trade in other sectors by enhancing market access and broadening the customer base, facilitating customs, transport and logistics. Most importantly, ICTs play an economic role by changing production processes within firms.
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

  97. Avatar DIKE JOHN CHUKWUDOZIE says:

    NAME: DIKE JOHN CHUKWUDOZIE
    REG NO: 2018/241837
    COURSE: ECO 236

    (1)Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs. This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-pain staking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    However, this is not an unlimited scope and ICTs do have limitations, especially in the area of information failures. In ICTs, all routes to economic growth pass through the domain of information and unfortunately, this very domain of information is limited in developing countries by five types of information failures, namely absence, poor quality, uncertainty, asymmetry and cost of information.
    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth.
    And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are still struggling to lift significant portions of their population out of poverty, the slightest bit of cost associated with information, such as the cost of travel, bureaucracy etc. will prevent people from accessing it.
    Therefore, with the I (information) component of ICT facing such severe restraints, the role that ICTs can play in delivering economic growth in developing countries becomes limited.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.

    (2). Excel is a software program created by Microsoft that uses spreadsheets to organize numbers and data with formulas and functions. Excel analysis is ubiquitous around the world and used by businesses of all sizes to perform financial analysis. The use of excel has been of great of great benefit in all spheres of life, especially in academics,socio-economics, businesses etc. in this study, the relevance of Excel in academic and socio-economic world would be mostly emphasized.
    The use of Ms-Excel has been predominant in academic institutions such as primary schools,colleges, high schools and tertiary institutions. This is because it has provided both the teachers and students a better avenue to make there work easier. Ms-Excel offers students alot of benefits in there academic,this will be discussed below in detail:
    (i)In Excel, students can do and learn the fastest way to do the calculation with accuracy: Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy. Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.
    (ii) Microsoft Excel builds strong analytical thinking and skills:
    Microsoft Excel application explores productive creativity in students mind. Finance and economics is the most important part of our life. Later they have to work in companies, HR departments, they will run their own business and they have to manage their own daily life finance. Many business owners and people suffer in business due to bad finance or money management. Students will learn such things in Excel, so they can survive or grow above survival in business and career. That’s why Excel can help to build strong financial thinking by managing, performing business and daily life financial calculations.
    (iii) Students can learn how the calculation is performed:
    We all are seeing data and information in blogs, TV, Newspaper, and books in visuals such as charts, graph, diagrams, and reports. Such as Nigeria Gross Domestic production in which we can find the measurement of how good and services are produced in the year 2016 – 2017 and what are the results. Students can practice current Financial happening in Nigeria in Microsoft Excel. Similarly, the Government budget for 2017 and 2018.
    (iv) Students can learn how data is visualized:
    For example, students are watching a cricket match on TV. They can see a vegan wheel of batsmen in which he/she scored 145 runs in 112 balls and in which he/she scored 83 runs in offside and 62 runs onside. Now we can trend our students how to perform the same calculation, how to visualize the same charts, diagram, or vegan wheel in Microsoft Excel. Another example is a bar chart, in which runs scored in each over is highlighted. Big bars for more scored runs and small bars for low-scoring overs. Now students can do that and they can practice on their Excel skills to visualize the data they are seeing.
    (v) Students can learn by using excel how to convert raw data into meaningful information.
    RELEVANCE OF EXCEL ON SOCIO-ECONOMIC WORLD
    Just like Excel has played many important role in the academic sector,so also it has played a much vital role in the socio-economic sector. Some of the relevance of Excel on socio-economic world are stated below:
    (i)Finance and Accounting
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modeling in minutes with Excel.
    Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.
    Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.
    (ii)Marketing and Product Management
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.
    Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
    (iii)Human Resources Planning
    While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.
    HR professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.

  98. Avatar Emeto Tracy Tobechukwu. 2019/241571 says:

    1)
    Information and communication technologies (ICT) have been at the heart of economic changes for more than a decade. ICT sector plays an important role, notably by contributing to rapid technological progress and productivity growth.
    The production of goods and services within the ICT sector directly contributes to the creation of value-added goods and services in the economy.
    The knowledge economy is critically dependent on information and communications technology (ICT). ICT drives productivity growth, and its influence pervades all industries and the service sectors of the economy. … Yet in fact we are more dependent now than ever on ICT.
    When it comes to Economic Development, ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    ICTs promote development across many dimensions. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive.

    2)
    Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations. There’s a lot that Excel offers to its users.
    Excel is very beneficial for students. Students can learn by using excel how to convert raw data into meaningful information. It helps in learning by doing exercises in Excel, how to perform calculations faster, helps us understand by using Excel how data can be visualized, and also how to do financial planning. Students can learn why data and information are important to filters.
    It is used to calculate values based on what is in cells, perform operations on a cell content, fetch values after an operation based on your search criteria, and much more. Mathematical Formulas in Excel are used to perform various arithmetic operations like sum, average, count, max, min, etc.
    It’s super important, but not because it does calculations.
    It’s also important because it’s the fastest, easiest, most native way to put information in matrices. And tables hold much of the information in workplaces, it’s their natural habitat.

  99. Avatar EZUGWU JOHNSON CHINECHEREM REG NO; 2019/245390 says:

    EZUGWU JOHNSON CHINECHEREM
    2019/245390
    ROLE OF ICT IN ECONOMIC GROWTH AND DEVELOPMENT
    Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs. This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    However, this is not an unlimited scope and ICTs do have limitations, especially in the area of information failures. In ICTs, all routes to economic growth pass through the domain of information and unfortunately, this very domain of information is limited in developing countries by five types of information failures, namely absence, poor quality, uncertainty, asymmetry and cost of information.
    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth.
    And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are still struggling to lift significant portions of their population out of poverty, the slightest bit of cost associated with information, such as the cost of travel, bureaucracy etc. will prevent people from accessing it.
    Therefore, with the I (information) component of ICT facing such severe restraints, the role that ICTs can play in delivering economic growth in developing countries becomes limited.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.
    RELEVANCE OF EXCEL IN TODAY’S ACADEMIC
    Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations — there’s a lot that Excel offers to its users.
    With a working knowledge of MS Excel, you’ll be able to organise and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do. Excel has, over the years, grown to become the skill that manifolds increase one’s chances of securing a job. If you’re a fresher with knowledge of Excel, you can start your career as an analyst. Further, if you’re aiming to work in the business sector, you’ll definitely need to ace Excel in order to manage finances, human resources, and inventory.
    All in all, MS Excel is a pretty nifty tool — one that has empowered students for years and continues to do so. Let’s look at 6 reasons for Excel being such an important tool in the toolkit of students:
    1. Improved time management
    If you’re looking to successfully own and run a business, or even work in a corporate, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy.
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    2. Holistic look at the data
    When you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.
    3. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    4. Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    If even before you’ve joined a corporate, you’re good with finances management, and using Excel to perform analytics, you’ll be an asset for the company you go to. Further, chances are the organization you’ll enter already uses Excel or some similar software. So, with your working knowledge, you’ll be all set to leave your mark in the professional world.
    5. Data visualization techniques and ideas
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.
    In the form of pie charts, bar charts, histograms, and more, you can display all your data, findings, and future patterns in a visually attractive manner. In doing so, you’ll ensure that everybody in your organization — from marketing teams to sales teams, from engineers to higher management — is on the same page in terms for all the data, predictions, and decisions.
    There are many more sophisticated tools as well, to perform better and higher-level data visualization. However, for students, it’s crucial to know the visualization techniques using Excel to have a good headstart in their career. For instance, students pursuing B.Com or M.Com know how to create demand and supply curves, they learned how to predict the future based on data, how to calculate net profit. All of this can be easily replicated in Excel for better and easier understanding.

  100. Avatar ONYELEONU PRECIOUS OLUOMACHI says:

    Name. ONYELEONU PRECIOUS OLUOMACHI
    Reg no. 2019/248162
    1. The role of ict.
    It is clear to all by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their uses. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. Cinsider the case of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is also the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    2.The relevannce of excel.
    When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    You can calculate customer discounts based on monthly purchase volume by product.
    Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Use complex calculation methods, like Sharpe ratios.

  101. Avatar Anyanwu Paschal Ositadinma says:

    2019/244008

    (1) Importance of Information and Communication Technology(ICT)

    It creates an analytical mind of students that help them study and offers solutions to problems emanating from all related fields that employ it as a learning tool.
    Being an emerging academic field of study, it helps students to be innovative and develop new ways of solving problems scientifically.
    It makes information storage and retrieval easy.
    It enhances computer networking globally known today as internet and intranet.
    It accelerates economic development nationally as it is a virile source of national income for all nations that have fully embraced its usefulness.

    (2) Relevance of MS Excel in academic and socioeconomic environments

    Microsoft Excel is one of the most significant computer programs because of the key role it plays in many sectors. It is the most widely used spreadsheet program in many corporate, classwork and even personal data organization. The initial version of Excel was introduced in 1985. It has been used to execute formula-based arithmetic and calculations and other tasks that may need mathematical calculation.
    Excel has been popular among corporations, individuals, and institutions due to its versatility and ability to act as a visual basic for various applications. MS Excel’s relevance may be observed in the various economic departmental units and academic fields where it is used, as seen below:
    Human Resource Planning: You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future. Professionals can also use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.
    Finance and Accounting: Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modeling in minutes with Excel. Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions. Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions and pivot tables.
    Marketing and Product Management: While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results. Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.

  102. Avatar OMEBE SAMUEL OFORBUIKE says:

    NAME:OMEBE SAMUEL OFORBUIKE
    REG NO: 2019/246454
    COURSE: ECO 236

    QUESTIONS
    (1). The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development

    (2). Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socio-economic world.

    ANSWER
    (1). Technology encompasses a huge body of knowledge and tools that ease the use of economic resources as a way to produce goods and services efficiently and innovatively. Technological progress is essential to economic growth and development, and the more advanced the technology available, the more quickly the local and global economy can improve. Information and communication technology role in economic development is further broken down below.
    Time is Money
    Technology can save the time it takes to produce a good or deliver a service, contributing to the overall profits of a business.
    Efficiency
    Technology can contribute to the efficiency of a business’s output rate, allowing for larger quantities of products to be moved or of services to be rendered.
    Specialization
    Technology has lead to an increase in the division of labor and specialization of jobs within a business, further contributing to the efficiency with which a business is able to run.
    Natural Resources
    Technology has a huge effect on the ability of businesses and governments to access natural resources and use them in the most effective ways possible to benefit both the business and the economy.
    Industrial Expansion
    Thanks to the increased efficiency of labor with the ever improving state of technology, businesses are able to increase total output, which in turn leads to higher profits and greater economic development.
    Research
    Better technology has lead to further research into nearly every sector of business and science, meaning businesses can benefit from all sorts of technological advancements.
    Internet and International Trade
    Information technology is the single most important element in the success and growth of international trade and job market growth, allowing businesses to share information and conduct trade in less time than the blink of an eye.

    (2). MS Excel is a spreadsheet programme developed by Microsoft in 1985, with the sole purpose of helping businesses compile all their financial data, yearly credit, and yearly debit sheets. Fast forward to the future after 31 years, it is now the most commonly used program for creating graphs and pivot tables. However, many still believe it is just a mere tool for small business purposes. That’s WRONG!
    MS Excel has many relevance in our daily lives today,but we will focus our studies to the relevance of Ms Excel on academic and Socio-economic world
    RELEVANCE OF MS-EXCEL ON ACADEMIC WORLD
    Microsoft Excel offers a lot of benefits with its functions, formulas, graphs or charts and tables. Excel worksheets are of a great help to almost all professions. So it is for teaching profession. Tea
    chers can extract several benefits from Excel worksheets in the classroom. In the process of teaching and learning, both teachers and students find it easier to make use of excel worksheets. The activities, such as, preparing lesson plans, grading papers, creating graphs or tables and many more can be carried out effectively and efficiently by using excel spreadsheets.
    While explaining the material related to mathematics, excel worksheets can be used to make calculations, to create graphs and to use various functions and theorems. Also, worksheets are much helpful for solving arithmetical problems and algebraic equations. Besides, there are many graphs or charts available in spreadsheet programs that can be applied for explaining the study material effectively. Aside from these, spreadsheets are well suited for doing statistical analysis. Thus, in accordance with requirement, many worksheets and templates may be tailored in order to teach the students effectively and to make teaching methods more efficient.
    As regards English lessons, grammar and vocabulary, excel is a great tool. The rows and columns of excel worksheets are well suited for
    providing various examples in relation to different structures of English language. While giving lessons on vocabulary and explaining different forms of words, an English teacher can make use of worksheet columns. In addition, the spreadsheets can be used for creating sample sentences and linking with other sheets pertaining to the lesson plans.
    Many jobs require advanced Excel skills nowadays, so, it is important to learn and being proficient in using excel so that you can make use of it in an efficient manner in your teaching profession. Developing excel skills helps you greatly in your job activities making your teaching methodologies effective and efficient.
    RELEVANCE OF MS-EXCEL ON SOCIO-ECONOMIC WORD
    Ms-Excel offers lots of benefits to the Socio-economic world,some of these benefits are stated below:
    Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.
    Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!
    Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.
    Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  103. Avatar Ngwoke Chidera Lilian says:

    Ngwoke Chidera Lilian
    2019/235394
    chiderangwoke44@gmail.com
    Economic
    No1.ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo- gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    No2:Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

  104. Avatar Ugah Chikaodili Udodili says:

    UGAH CHIKAODILI UDODILI
    2019/243002
    ECO236
    1) a) ICT enables economic growth by broadening the reach of technologies such as high speed internet,mobile broadband and computing. Expanding thee technologies itself creates growth and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits

    b) ICT plays a significant role in promoting entrepreneurship and economic progress in rural areas, contributing to improve the competitiveness of agriculture and forestry, the quality of life and diversification of the rural areas.

    c) ICT has accelerated the growth of the global economy and improved the quality of life of the world’s inhabitants. ICT ha brought new ways of creating livelihoods for people. The diffusion of ICT has also increased year by year and made it possible to reduce poverty.

    note: The more a country uses ICT, the greater is its economic growth.

    2)a) Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    b) Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    c) Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    d) Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    e) Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    f) Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  105. Avatar Nkeonye Oluchi Praise says:

    Name: Nkeonye Oluchi
    Reg. No. : 2019/250120
    Department: Economics
    Course Code: ECO 236

    Question 1

    Information and Communication Technology (ICT) has been the hallmark of the 21st century. It has permeated everything – schools, offices, health, and society at large. It would be out of place to separate the importance of ICT from the economy. The use of ICT gadgets like phones, computers, the internet, and the likes has impacted the economy of nations and has now become an integral part. The following are the roles of Information and Communication Technology(ICT).
    1. Increase in GDP growth rate: percentage by 0.6-0.7. The effective use of ICT in business, homes, e.t.c can result in greater productivity leading to greater competitiveness and thus sustainable economic growth.
    2. Productivity gain for business: Today, for a business to perform functionally, it has to have the use of ICT in its business operations. A simple phone to receive calls from prospective customers or the use of Google maps provided by the internet can increase the productivity of a business. No team of persons can provide the service that a Google map offers. Imagine a business like JUMIA without the integration of the internet into their business operations. Surely, the business would not perform as much because of that single loss of touch with their prospective customers.
    3. Job creation: ICT provides new avenues for the creation of jobs that can tackle unemployment in a country. New roles stem up regularly to meet up with the advancement of ICT. ICT also connects people to jobs. Social media platforms like LinkedIn are an easy and productive way to seek out suitable paid employment that fits what you can offer. Freelancing websites, mobile phones for SME’s aid and creates jobs for people.
    4. Increased foreign investment: Tangible presence and increased investment of Information and Communication Technology (ICT) in a country directly increase Foreign Direct Investment (FDI).

    Question 2
    Microsoft Excel is a spreadsheet application that is used to to store and makes sense of large chunks of data.
    The benefits of Excel to academics and the socioeconomic include:
    1) It enhances the understanding of content within a grahic presentation of the information and provides a visual representation of data that makes it easier to analyze.
    2. Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.
    3. It can help students to understand the relationship between the data and the chart.
    4. Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups allover the world.
    5. As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data.
    6. This package plays a very important role in graphing as it hasthe ability to produce a variety of different charts, which may be used bydifferent departments in an organization to represent statistical data in more visual way.Since the formulae and procedures are incorporated in the package, it isalways an easy and time saving to create charts. Unlike other graphingprograms, Excel is much more cost effective as it plays many differentroles, and can be used for so many different things.

  106. Assignment on Eco 236 ( Computing Applications for Economists)
    By Egbe Blessing Ngozika
    2019/241024

    Answer 1
    The ICT industry—including telecommunications operators, computer and software producers, electronic equipment manufacturers—is playing an increasingly important role in the global economy.
    1 Because of its size and the nature of its products, the industry has a notable role to play in encouraging economic growth and contributing to other social goods, including improving education and healthcare access and services.
    2. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    3.ICT’s role in enabling economic growth has become more significant as governments are investing to stem the effects of the global financial crisis.
    4.Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede reorganisation or competition between firms also need to be addressed. The experience of countries such as Australia shows that structural reform is key in harnessing the new dynamism that is associated with ICT. Firm creation also needs to be fostered. Experimentation and competition are key in selecting those firms that seize the benefits of ICT and in making them flourish and grow. In the current time of rapid technological change, greater scope for experimentation may enable new ideas and innovation to emerge more rapidly, leading to faster technology diffusion. Barriers to the entry, exit and growth of firms therefore need to be addressed whereas competition needs to be strengthened. Competition not only helps lower the costs of ICT products and services, which fosters diffusion, it also strengthens pressures on firms to improve performance and change conservative attitudes.
    5. Security and trust: Concerns on security, privacy and authentication continue to affect the uptake and use of ICT and should remain a priority for policy.
    6. Barriers to the effective use of ICT in services: Sector-specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.

    7. Innovation: ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT. To strengthen innovation, policy needs to give greater priority to fundamental research, improve the effectiveness of public R&D funding and promote the flow of knowledge between science and industry.
    Beyond economic benefits, the ICT industry is uniquely positioned to help build a more socially sustainable future.

    Answer 2

    1.Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy.
    2.Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.
    3.Today, Data management and visualization in business is the most important thing. In future students will work in organizations and companies, in that they will find it comfortable to deal with data and information.
    4.Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. By using such a tool they will learn how to validate, consolidate, group, import and explore data and information in a computer using Microsoft Excel faster with accuracy.
    6.Using Excel can enhance understanding of content within a grahic presentation of the information; it provides a visual representation of data that makes it easier to analyze.
    7.Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.
    8.You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.
    9.Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent.
    10.Excel’s ability to dynamically generate charts and graphs in seconds makes it easy to quickly demonstrate relationships between numbers.
    11.As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data. As one teacher stated, “For years it took me three to five days to teach kids the use a pie chart, bar graph, and/or a line graph to accurately represent information. Now with Excel, it makes it so much easier because the kids are far more motivated to use the application to manipulate data and to chart any information.”
    12.One of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over time. For example, you can compare data collected by a group of collaborating teachers within one school, one county, or around the world.

  107. Avatar Anikwe Chinaecherem Promise 2019/243336 says:

    1. • ICT is the single most important element in the success and growth of international trade and job market growth, allowing businesses to share information and conduct trade in less time than the blink of an eye
    • It also used for further research into every sector of business and science, meaning businesses can benefit from all sorts of technological advancement
    • Thanks to the increased efficiency of labour with the improving state of technology, businesses are able to increase total output, which in turn leads to higher profits and greater economic development/growth.
    • Technology can contribute to the efficiency of a business’s output rate, allowing for larger quantities of products to be moved or of services to be rendered.
    • It saves time, contributing to the overall profits of a business or economy

    2. • This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in a more visual way.
    • Excel gives the users the ability to set up tables in which they can organize their data and provide updating keys too
    • Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming
    • The knowledge of Excel is vital in most modern organizations for the purpose of proficiency
    • For human resource planning, Excel allows you to manage it all in one file. You can summarize an employees expenses, their pay per hour, and easily discover wrong entities
    • Excel is used for Mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. it can be used to make a company’s yearly sales and other spreadsheet easily

  108. Assignment on Eco 236 ( Computing Applications for Economists)
    By Egbe Blessing Ngozika
    2019/241024

    Answer 1
    The ICT industry including telecommunications operators, computer and software producers, electronic equipment manufacturers is playing an increasingly important role in the global economy.
    1 Because of its size and the nature of its products, the industry has a notable role to play in encouraging economic growth and contributing to other social goods, including improving education and healthcare access and services.
    2. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    3.ICT’s role in enabling economic growth has become more significant as governments are investing to stem the effects of the global financial crisis.
    4.Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede reorganisation or competition between firms also need to be addressed. The experience of countries such as Australia shows that structural reform is key in harnessing the new dynamism that is associated with ICT. Firm creation also needs to be fostered. Experimentation and competition are key in selecting those firms that seize the benefits of ICT and in making them flourish and grow. In the current time of rapid technological change, greater scope for experimentation may enable new ideas and innovation to emerge more rapidly, leading to faster technology diffusion. Barriers to the entry, exit and growth of firms therefore need to be addressed whereas competition needs to be strengthened. Competition not only helps lower the costs of ICT products and services, which fosters diffusion, it also strengthens pressures on firms to improve performance and change conservative attitudes.
    5. Security and trust: Concerns on security, privacy and authentication continue to affect the uptake and use of ICT and should remain a priority for policy.
    6. Barriers to the effective use of ICT in services: Sector specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.

    7. Innovation: ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT. To strengthen innovation, policy needs to give greater priority to fundamental research, improve the effectiveness of public R&D funding and promote the flow of knowledge between science and industry.
    Beyond economic benefits, the ICT industry is uniquely positioned to help build a more socially sustainable future.

    Answer 2

    1.Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy.
    2.Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.
    3.Today, Data management and visualization in business is the most important thing. In future students will work in organizations and companies, in that they will find it comfortable to deal with data and information.
    4.Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. By using such a tool they will learn how to validate, consolidate, group, import and explore data and information in a computer using Microsoft Excel faster with accuracy.
    6.Using Excel can enhance understanding of content within a graphic presentation of the information; it provides a visual representation of data that makes it easier to analyze.
    7.Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.
    8.You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.
    9.Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent.
    10.Excel’s ability to dynamically generate charts and graphs in seconds makes it easy to quickly demonstrate relationships between numbers.
    11.As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data. As one teacher stated, “For years it took me three to five days to teach kids the use a pie chart, bar graph, and/or a line graph to accurately represent information. Now with Excel, it makes it so much easier because the kids are far more motivated to use the application to manipulate data and to chart any information.”
    12.One of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over time. For example, you can compare data collected by a group of collaborating teachers within one school, one county, or around the world.

  109. 1. Information and communication technologies (ICT) play a significant role in all aspects of modern society. ICT have changed the way in which we communicate with each other, how we find needed information, work, conduct business, interact with government agencies, and how we manage our social lives. As ICT affect everyday lives, they also impact the macroeconomic growth, which in turn further affects society by enabling infrastructure and standard of living improvements.

    Although the concept of ‘socioeconomic development’ is widely applied in research and in practice, its meaning may not always be clear. The word ‘development’ implies progress or advance, and may be defined as the overall activity in a society, consciously or subconsciously undertaken, aimed at improvements in that society (Stec, Filip, Grzebyk, & Pierscieniak, 2014). The qualifier ‘socioeconomic,’ itself a combination of two words, relates to social factors, like education, and profession, as well as economic factors, like income and resources. Thus socioeconomic development can be defined as a process of changes or improvements in social and economic conditions as they relate to an individual, an organization, or society as a whole (Roztocki & Weistroffer, 2016).

    The papers in this special edition all deal with the role that ICT play in various aspects of society and socioeconomic development, such as in education and training, administration, organizational relationships, project management, delivery of services, and medical care. In this editorial, we try to provide some structure around the role that ICT play in this socioeconomic development and also show how various aspects of society, technology, business, and governmental policy relate to socioeconomic development.

    Before introducing our multi-dimensional conceptual framework, we briefly review previously published frameworks that deal with socioeconomic development and discuss their merits and shortcomings. Our own framework is based in part on these earlier frameworks. After discussing our own proposed framework, we introduce the eight papers in this special issue and put them in the context of the proposed framework.

    2.proficient in any school or college subjects by using Microsoft Excel. Microsoft Excel is really important in our education system that enhances data management creativity in students mind. Microsoft Excel is an important application in computers that need to be used in the classroom and education. There are various reasons why Microsoft Excel is important in Education but let’s look at the following reasons I think very important to consider:-

    In Excel, students can do and learn the fastest way to do the calculation with accuracy
    Microsoft Excel formulas, formatting options, and other data management and visualization tool can help students to perform complex mathematical, logical and financial calculation faster with accuracy.

    Microsoft Excel contains various educational and business tools and features. It means if students start learning and start working on Excel from the earlier as possible then it will easier for them in future to handle and understand the pattern of data and information when they join computer or computer science degree or any organization.

    Today, Data management and visualization in business is the most important thing. In future students will work in organizations and companies, in that they will find it comfortable to deal with data and information.

    Microsoft Excel Tools such as conditional formatting, sorting, filters, use of chart and illustration in data visualization, use of pivot table, logical formulas such as SUMIF, IF, OR, NOT, AND and various other types of text-based options in Excel is really important for students to understand how economics works in our daily life. By using such a tool they will learn how to validate, consolidate, group, import and explore data and information in a computer using Microsoft Excel faster with accuracy.

    Related: Uses of Microsoft Excel in daily life

    Microsoft Excel builds strong analytical thinking and skills
    Microsoft Excel application explores productive creativity in students mind. Finance and economics is the most important part of our life. Later they have to work in companies, HR departments, they will run their own business and they have to manage their own daily life finance. Many business owners and people suffer in business due to bad finance or money management. Students will learn such things in Excel, so they can survive or grow above survival in business and career. That’s why Excel can help to build strong financial thinking by managing, performing business and daily life financial calculations.

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    If students are strong in financial education before completing their academic education then it will be easier for them to get benefits from subjects like math, economics, and account in their life. And Microsoft Excel provides those tools and features for everyone.

    Teachers have to include Microsoft Excel in mathematical, financial and economical topics practically. So, students can become stronger, powerful and great in money management and spending habits. Such thing if students understand and perform a calculation on their money spending habits, savings then they can predict and visualize what type of results they will get in future and what they can do if they are getting bad financial results.

    This is about using data and information for predicting the future. And it was happening before Microsoft Excel. But today, Computer education or Microsoft Excel practical education is not optional but a necessity for every student around the world.

    Related: Online Computer Courses: Learn Basic and Advanced Computer Skills

    Students can learn how the calculation is performed
    We all are seeing data and information in blogs, TV, Newspaper, and books in visuals such as charts, graph, diagrams, and reports. Such as Indian Gross Domestic production in which we can find the measurement of how good and services are produced in the year 2016 – 2017 and what are the results. Students can practice current Financial happening in India in Microsoft Excel. Similarly, the Government budget for 2017 and 2018. But do all students think about such things before bachelor degrees? I don’t think so.

    But teaching theories or historical facts in Education not enabled us to grow faster and become successful business owners at the age of 30. The best method of teaching, I think will be when you include current incidents in education, which is happening in the country.

    I am not against any historical facts and figures that are included in the books or study material. But what about that is happening currently. As a student, I want to learn about demonization from the teacher, I want to learn how inflation rate effects on our savings, FD, RD, etc. And I want to learn this from our teachers. Not from news channels. I don’t want to learn about it from marketers. I hope you got my point.

    I only mean here, to include current happening in the studies. And using computer or internet technologies in a way so they can help us to create a better future for our students. And Microsoft Excel or computer education will speed up the process of development of students mind. I can be wrong, but it’s not ok, to be right when you are facing unemployment problems in our country. It means your education policies or processes are weakest. It’s not students’ fault, it’s fault in the brain of policymakers.

    It’s really important for school and colleges’ to provide an appropriate environment, teaching tools and learning tool for teachers and students.

  110. Avatar OZOR PAMELLA CHISOM says:

    OZOR PAMELLA CHISOM
    2020/257089

    1: Micro economics can be defined as the study of how individuals and companies make decisions to allocate scarce resources.
    Macro economics is also the study of and economy as a whole

    2: Economics

  111. Avatar Oha God’spower Ekene says:

    1). ICT enables economic growth by broadening the reach of technologies such as high-speed internet, mobile broadband, and computing; expanding these technolo-gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.

    2). Social studies helps students understand the world they live in, so they can make informed decisions about issues affecting them, especially when they grow older. Through social studies, student develop history thinking and literacy as a way of navigating our world.

  112. Avatar Okoh Rachel Ifunanya says:

    Information Communication Technology(ICT) are crucial to reducing poverty, improving access to health and education services and creating new sources of income and employment for the poor. Being able to access and use ICT has become a major factor in driving competitiveness economic growth and development.
    ICT promotes development across many dimensions. At their most fundamental level, ICTs enable organizations to be more productive, thereby spurring economic growth and helping firms be more competitive.ICT has changed the way in which we communicate with each other, how we find needed information, work, conduct business interact with government agencies and how we manage our social life.
    ICT can generate important contribution to public health, from education to surveillances. In education it improves engagement and knowledge retention, when ICT is used in learning students become more engaged in their work. This is because technology provides different opportunities to make it more fun and enjoyable in terms of teaching the same thing in different ways. Also successful implementation of ICT to lead change is more about influencing and empowering teachers and supporting them in their engagement with teachers in learning rather than acquiring computer skills.

    2. Excel remains relevant till date because it’s part of a larger big data ecosystem. Many businesses continue to emphasize on the importance of excel skills because it remains as an intelligent as an intelligent way to extract actionable insight. Revenue patterns operations, marketing trends and more can be analyzed through the excel spreadsheet but the real advantage is on the process.
    The most relevant use of excel is it’s ability to mass arithmetic calculations. With a vast program full of formulae, you can add, subtract, multiply, and divide hundreds of numbers altogether and can easily redo if a number is changed or added.
    It is widely used in finance and accounting because it is easy to use and has a depth of financial functions. It is also used for financial analysis.

  113. 1
    – strengthening information broadening the
    reach of technologies such as high-speed Internet, mobile
    broadband, and computing; expanding these technolo-
    gies itself creates growth, and the fact that technologies
    make it easier for people to interact and make workers
    more productivity creates additional benefits.
    Playing an increasingly important role in the global economy. It created approximately 5 percent of total GDP growth between 2003 and 2008, and it represented 5.4 percent of world’s GDP in 2008.That share is expected to reach 8.7 percent by 2020.Because of its size and the nature of its products, the industry has a notable role to play in encouraging economic growth and contributing to other social goods, including improving education and healthcare access and services.
    -Help services firms to introduce new business models,develop new applications, improve and re-invent business processes; By introducing and formulating, new business has a substantial hope of progressing irrespective of the economic development plan of the country. Thereby, varently improving economic development over time.
    -Rural development and government has been made much specific for economic growth through the confirmation of E-governance;Rural Development is a strategy to enable
    a specific group of people, poor rural women and men, to gain for themselves and their children more of what they want and need.For them the government is armed with many E-governance projects to improve their living standard.
    Any improvement in the social or economic status of rural areas would not just directly benefit rural poor but would also bring down the migration-pressures on cities and contribute by positive ripple effect in global stride towards development and globally especially nigeria, this has been made possible through the ICT.
    Improving the business environment for rural producers in a way that allows them to participate in and benefit from local, national and international markets is a key driver for rural economic development. Improving access to markets,however, requires overcoming a number of challenges that frequently prevent rural producers
    from being competitive, including:
    a) insufficient market orientation of their production and dependence on a small number of
    economic activities,
    b) remoteness and sparse population density,
    c) a lack of transport infrastructure,
    d) insecurity and lack of effective rule of law,
    e)inadequate infrastructure and basic services,
    f) dysfunctional land and property ownership structures.
    Over the past decade, ICT applications have demonstrated in a series of examples across the
    developing world that can be powerful tools to bridge the gaps described above. Moreover, they can play a significant role in fostering efficiency, productivity and
    innovations in rural areas. ICT can provide rural businesses with access to information (e.g. on price, market conditions or ―know how‖) as well as financial and non-financial services (e.g. business development services). In particular, it can be a major driver in enhancing access to agricultural financial services thereby directly contributing to improvements in
    agricultural productivity and food security. At the same time ICT generates new business opportunities and improves the business enabling environment by reducing transaction costs and improving the investment climate. By connecting rural areas more closely to national and
    global information, knowledge, or social networks, new mobile technology can motivate young entrepreneurs to stay in these regions.
    -Advancement in socio-economic development;A most recent finding is that ICT plays a vital role in advancing economic growth and reducing poverty. A survey of firms carried out in 56 developing countries finds that firms that use ICT grow faster, invest more,and are more productive and profitable than those that do not.
    2
    Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large data .
    Excel offers today’s academic and socio economic world a large number of relevant ideas of innovation, thereby making it easy for learning.
    -Improved time management: To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy.
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel.
    You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    -Useful look at the data: This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar condition.This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.

  114. Avatar Udeh Mgbechi Mary says:

    1.The Role Of In Economics
    ICT enables economic growth by broadening the reach of technologies such as high speed internet, mobile broadband and computing, expanding these technologies itself creates growth,and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits
    2.Relevance of excel in socioeconomic world
    Formatting options
    The various formatting options, including italics, highlighting and colours, allow businesses to bring the most important data to be different from the rest.
    Availability of online access
    Excel is part of the office 365 productivity suite, which means that business employer and their employees can easily access their files over the cloud network,free from the boundages of files transfer.
    Charts for analysis.

  115. Avatar Ugwuala Faith Oluchi/2019/251298 says:

    1.The Role Of In Economics
    ICT enables economic growth by broadening the reach of technologies such as high speed internet, mobile broadband and computing, expanding these technologies itself creates growth,and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits
    2.Relevance of excel in socioeconomic world
    Formatting options
    The various formatting options, including italics, highlighting and colours, allow businesses to bring the most important data to be different from the rest.
    Availability of online access
    Excel is part of the office 365 productivity suite, which means that business employer and their employees can easily access their files over the cloud network,free from the boundages of files transfer.
    Charts for analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts.

  116. Avatar OGBUEHI CHINAZAEKPERE ESTHER says:

    Name: Ogbuehi Chinazaekpere Esther
    Reg no: 2019/244948
    Level: 200
    Course: ECO 236
    ASSIGNMENT
    CO 236 Assignment.
    (1). The roles of ICT in the development of economy are very vast. ICT has become a very important part of the economy today. Firms and organizations and every part of the economy that contributes to the growth and development of the economy makes use of Information and Communication Technology. The use of ICT increases productivity, enables access to education and health to improve human capital, facilitates communication and the spread of information, improves globalization, and many more!
    Economies are now converging through the use of ICT, from private organizations to public entities. ICT has enabled even more conducive and healthy environments for work and learning. Even the disabled are empowered, thereby enabling a more hands-on approach to economic growth and development.

    (2). Excel is relevant in today’s academic and socioeconomic world because of the key roles it plays in all sectors of the economy. It is a fantastic resource for easily sorting and calculating numbers and it is easy to adjust formulas which makes it efficient and easy to use for any business user who might be doing budgeting or financial analyzing. Organizations use Excel spreadsheets to model and manipulate data sets, create graphical visualizations, inform future planning and decision making.
    In an academic setting, teachers can use Excel spreadsheets to keep attendance, average quarterly grades, create a lesson-plan template and schedule, track room inventory, list classroom books, manage summer-school rosters, document student behavior and more. Students can plot their progress in class.
    Excel is used for business and strategic analysis, project planning (for both students and businesses). It is used in almost every organization and institution around the world.

  117. Avatar Ikwuagwu Lucy Ogechi says:

    Ikwuagwu Lucy Ogechi, 2019/245407, lucyikwuagwu@gmail.com.

    1. ICT is treated as an efficient channel for firms to gain access to advanced technological information. As an instrumental input, ICT effectively interacts with knowledge sources for innovation and further enhances innovation performance.
    Organization learning theory suggests that the adoption of ICT practices increases the effectiveness of both internal R&D and external technology purchasing.
    ICT is a channel for accumulating an organization’s capabilities, such as its ability to acquire knowledge and its propensity for integration, learning and development.
    ICT technologies generate on average substantially larger knowledge spillovers than those generated by other technology areas and this holds even when ICT is compared to other frontier fields such as biotech and clean energy.
    For instance, as part of the results below we find that wireless technologies generate on average more than 50% higher knowledge spillovers than other comparable fields. This calculation is based on a monetary estimate of spillovers that extends the basic framework of the Page Rank based analysis.
    2. i. Graphing
    This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in more visual way. Since the formulae and procedures are incorporated in the package, it is always an easy and time saving to create charts. Unlike other graphing programs, Excel is much more cost effective as it plays many different roles, and can be used for so many different things.

    ii. Data organisation
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this buy ativan 2.5 mg effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.

  118. Avatar Odo Linda Amarachi says:

    Name:Odo Linda Amarachi
    Reg.no: 2019/244376

    1.
    ICT has the potential to affect many aspects of economic and societal activities such as GDP growth, employment, productivity, poverty alleviation, quality of life, education, and 
    In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. 

    2.
    *Using Excel can enhance understanding of content within a grahic presentation of the information; it provides a visual representation of data that makes it easier to analyze.

    Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.

    You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.

    Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent

  119. Avatar Odo Linda Amarachi says:

    Name: Odo Linda Amarachi
    Reg.no: 2019/244376
    1.
    ICT has the potential to affect many aspects of economic and societal activities such as GDP growth, employment, productivity, poverty alleviation, quality of life, education, and 
    In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. 

    2.
    *Using Excel can enhance understanding of content within a grahic presentation of the information; it provides a visual representation of data that makes it easier to analyze.

    Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.

    You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.

    Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent

  120. Avatar Odo Linda Amarachi says:

    Name: Odo Linda Amarachi
    Reg.no:2019/244376

    1.
    In recent years, progress in information and communication technology (ICT) has caused many structural changes such as reorganizing of economics, globalization, and trade extension, which leads to capital flows and enhancing information availability. Moreover, ICT plays a significant role in development of each economic sector, especially during liberalization process. Growth economists predict that economic growth is driven by investments in ICT. 

    2.
    *Using Excel can enhance understanding of content within a grahic presentation of the information; it provides a visual representation of data that makes it easier to analyze.

    Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.

    You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.

    Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent

  121. Avatar Okeanyaego Victor Chidubem says:

    Eco 236. Name:Okeanyaego Victor Chidubem
    Reg. Number: 2019/244068. Department: ECONOMICS. Date: 19/01/2022.

    1. Information and Communication Technology has helped positively in Economics and Economic development. Countries have been able to attain efficient and effective Balance of Trade and Balance of Payment due to the presence of ICT in the world of business and Economics. It has helped to improve interaction between individuals, countries and parastatals. It has helped to put in shape procedures and processes to make work easier and faster. ICT helps in Economic development in area of Human Capital Development [i.e. Education and Skill empowerment]. It helps students to be more productive thereby spurring economic growth and also helps firms to be more competitive.

    2. Relevance of Excel in Academics.
    Excel reduces the difficulty of plotting data and allows students a means of interpreting the data. Computing data and figures in complex spreadsheet calculations ; using excel helps to get accurate and factual figures. With a vast program full of formulae; it can add, multiply and divide hundreds of numbers altogether and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheet.
    – Relevance in Socio-Economic world.
    The use of spreadsheet packages/Excel in businesses will continue to be primary tool for diverse functions and applications ranging from IT projects to Business deals.
    Excel is vital for most office based professionals today and stronger excel skills can open doors to promotion and leadership opportunities. It takes a good computer user to take advantage of everything excel has to offer to provide the best results for their company.

  122. Avatar Asogwa Rejoice Chineche, 2019/242727 says:

    1. ROLES OF ICT ON ECONOMICS AND ECONOMIC GROWTH
    Information and Communication technology (ICT), can be defined as all the devices, applications and systems that allow people and organizations to interact in and with the digital world. It is evidenced by case study of various nations that ICTs contribute immensely to the national GDP (Gross domestic products) and promote its international economic integration, improving living standard and improvement on the utilization of natural resources. All these functions are few of the numerous roles of ICT which makes it a key player in the 21st century in enhancing the economic growth. I will base this discussion on few areas which are of interest to me.

    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generates thousands of direct and indirect jobs. I would be using China and India as case study to buttress my point. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. This outsourcing, provides decent jobs to thousands of people in China and India. Also, setting up manufacturing points and industries in these countries means paying taxes to them, which directly contributes to the GDP and GNP of the country hence economic growth.

    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce cost of inputs and make the production process cheaper and more efficient. For example, by upgrading a business (changing the production process from a lower value to higher value ones) with the help of ICT, a business can take itself online where it may be able to expand its coverage by getting more orders from different places. ICT gadget [drones], are employed for the purpose of delivering the goods. Payment process is also greatly modernized with various e-payment platforms being utilized. Thus, more value can be levied on the output which in turn makes the business profitable. Multiplying these individual effect by a thousand of businesses employing ICTs, we get a macro-level national economic growth.

    Lastly, the act of buying and selling of ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries, Nigeria for example, where they are bought and sold. This simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is Economic growth and the exchange [buying and selling] is the basics of Economics [demand and supply]. Data from the Nigerian communications commission (NCC) shows that telecommunications contributed as much as 12.45% of the GDP in the last quarter of the year 2020 and 10.60 in the same quarter of the preceding year. This shows that with the increase in the rate of the use of ICT, the better Nigeria’s economy would be.

    In summary, the roles of ICT on our economy cannot be over emphasized. Ranging from increased efficiency which in turn brings about improved productivity, to being time saving and less energy consuming. Even ICT can help in foster transparency both on a micro business level and on a macro level [ the government]. This would help us fight our biggest problem in Nigeria which is corruption.

    2. Relevance of Microsoft Excel in today’s academic and socioeconomic world

    Excel was first created in 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematic and calculations. It is assumed to be the most used spreadsheet program in many business activities, class work and even personal data organization. Although excel is a wonderful tool, as it made people and businesses more efficient, it has longed passed its best before date, Excel just can’t keep on with the flow and demands of current businesses, academic activities and personal data organization. Tools like access, Pokémon are replacing Excel on a daily basis. Below are some of the disadvantages of using excel.

    Learning the Syntax Takes Skill
    The difficult part for many users, is that the calculations must be entered into the spreadsheet as formulas. This requires learning the correct syntax for each type of calculation you wish to make. Although many classes are available to learn the skills necessary to use these formulas, many users still find them difficult. If the syntax is incorrect, the program will not return the correct information when the calculations are run. Additionally, if users input the wrong data, even in only one cell of the spreadsheet, all related calculations and cells will be affected and have incorrect data.

    User Bias
    One of the downsides of Excel is that only the information that the user chooses for analysis is included in these presentations, and therefore, other pertinent information that may influence decision making might be excluded, unintentionally. To make reporting of data more user friendly and comprehensive, companies are choosing to use reporting tools such as Tableau and Qik, instead of relying solely on the spreadsheet.

    Lack of Security
    Another spreadsheet disadvantage is the lack of security for your files. Typically, spreadsheets are not that secure and therefore are at greater risk for data corruption or mismanagement of information. Files that contain sensitive financial information may not be safe from hackers, even if password protected.
    Other types of data collection software therefore may be a more suitable option. Access, Oracle or some other form of relational database has built in safeguards that protect data integrity and prevent the reorganization of information. For example, in a spreadsheet, a user might sort a column of information and may inadvertently cause related information, such as first and last name, to become out of sync. In contrast, a database will keep all parts of a record unified, thereby ensuring better data integrity.

    Summarily, there are many other possible damages that arise from using Excel spreadsheets. The most common ones are mistakes, double data entry, wasted time and security issues. These damages lead to loss of money, time and other valuable resources which would have been put to better use. All these factors have highlighted the negative relevance of Excel in our academic and socioeconomic world.

    References: https://www.google.com
    https://www.trade.gov/country-commercial-guides/nigeria-information-and-communications-technology
    https://risingnepaldaily.com/detour/role-of-icts-in-economic-growth

  123. Avatar APPOLOS SOPURUCHUKWU BETHEL says:

    NAME: APPOLOS SOPURUCHUKWU BETHEL
    REG. NO: 2019/244006
    ECONOMICS DEPARTMENT
    EMAIL: appolosbethel2019@gmail.com

    1: CLEARLY DISCUSS THE MULTIFACETED ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT

    Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain.

    2: CLEARLY DISCUSS THE RELEVANCE OF EXCEL IN TODAY’S ACADEMIC AND SOCIOECONOMIC WORLD.

    Using Excel for business has almost no limits for applications. Here are some examples:

    1: When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.

    2: Excel creates revenue growth models for new products based on new customer forecasts.

    3: When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.

    4: When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.

    5: You can calculate customer discounts based on monthly purchase volume by product.

    6: Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.

    7: Use complex calculation methods, like shape ratios.

  124. Avatar Anyanwu favour ebubechukwu 2019/245648 says:

    1 The multifaceted roles of ict in economics and economic development.
    Considering the undeniable importance of ICT for economic growth, policymakers would do well to build an environment that helps government and private entities reap the benefits by removing the barriers affecting demand and also fostering the growth of the economy.Some of the roles of ict in the economic development of a country includes:.
    Swift and accurate information process which will enable the government and individual disseminate information around quickly through the use of modern ict gadgets.
    Globalisation:The new generation of connectivity — premised in the 5G application — can fuel GDP manufacturing growth by 4%. The technology will cut costs and unlock new streams for manufacturing, making it easier to track production in real time using far more data than ever.
    Job creation:With all the buzz around technology, is it any surprise that the demand for IT professionals is increasing by the day across the field and globally.
    2 The relevance of excel in today’s academic and socioeconomic world cannot be over emphasize because excel is computer program which is best used to store data easily,helps with data visualizations with chart easily,all tools for data analysis and altogether this is relevant to all at large because it helps in the presentation of data easily.

  125. Avatar Nduul Michael Terungwa. 2019/246514 says:

    Question 1 The roles of ICT in economics and economic development can be seen in the following ways;
    (a)- ICT’s potential has enforced the business world to substitute and modify conventional capital and labour. Due to the relative high ICT investment and use economic processes and trade are more and more influenced by creation, dissemination, processing and application of information and knowledge.
    (b)- ICT allows an easier interchange of international innovations and dissemination of new technologies a and thus accelerates the invention and circulation of new ideas that in turn trigger further technological change. Due to this network effects the impact of ICT increasingly grows the threshold of ICT up take and becomes more important than ICT investment and production with regard to contribution to economic growth.
    (c)-the dramatic alteration of economic conditions by use of ICT challenges governmental regulations system permanently. Considering the “world submit on the information society” (WSIS) of the united nations and various global governmental reformation towards ICT based regulations confirms the importance of ICT and it wide recognition as an economic significant determinant. After the early over-ambitious believe in ICT as the panacea for economic development and growth, it has been finally realized that ICT is not the solution but an effective tool for fostering economic growth that can make a significant contribution to more efficient growth processes.
    Question 2. Microsoft excel is a spreadsheet program that is primarily used to store and make sense of large and chunks of data in the following ways;
    (a)- improve time management: if you are looking to successfully own and run a business or even work in a corporate, you will be dealing with multiple task daily. To be successful, therefore you will need to be productive and quick at your tasks. For that, the various features of excel come in handy.
    (b)-Holistic look at the data: when you’re managing a large pool of data, it is very easy to get lost in it. If you turn to analyses data numerically you will find it difficult to extract meaningful patterns and resources and therefore, you won’t be able to make accurate predictions from the data that you have at hand. This is where excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you will have a visual aid of all the data.
    (c)- faster, more accurate calculations: with the formula that excel supports, you get to perform faster calculations automatically. You won’t need to manually perform large numerical calculations that are always time consuming.
    (d)- enhanced analytical skills: MS excel opens a lot of creative avenue for people especially in terms of performing analytics and calcutions. Economics is the most important element for successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, execel acts as a saviour by equipping people with the necessary knowledge and skills to perform well.

  126. Avatar Onu Chinecherem Excellence says:

    Name: ONU CHINECHEREM EXCELLENCE
    Reg No:2019/241446
    Dept: ECONOMICS
    Assignment on ECO236
    Answers
    Question1: It improves the efficiency of knowledge creation and information sharing in various ways. As a source of innovation, ICT (e.g. the Internet) is a knowledge-acquisition channel through which firms can gain access to advanced intelligence and share it with organisation stakeholders regard-less of time restrictions and geographical boundaries. In this sense, ICT can be used as a corporate channel for one-way information acquisition, dissemination, and data access across all organis-ational levels (Bafoutsou and Mentzas 2002).
    2. In terms of technology purchasing, ICT is an effective moderator for leveraging externally acquired codified knowledge. This finding is consistent with previous studies that suggest ICT improves marginal innovation outputs via capability accumulation and organisational learning.
    3. The ICT not only contributes to innovation by directly enhancing its output, but also affects the creation of knowledge along two different paths in manufacturing firms. Specifically, ICT mediates research and development to foster innovative sales and it is an effective moderator in leveraging externally acquired knowledge.
    4. This research suggests that a firm can select the suitable strategy considering his key value proposition and ownership of data which the firm could use. The research contributes to the research and practices on the digitalization strategy and the digital transformation of firms, especially those in emerging economies.
    QUESTION 2:The Importance of MS Excel
    Among the computer programs which exist, Microsoft Excel is one of the most important because of the key role it plays in many sectors. It is the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Many businesses, personal and institutional enterprises have embraced the use of Excel because of its utility and the ability to serve as a visual basic for different applications. The importance of MS Excel can be seen in the different departmental units it is used as follows.
    1. Graphing:
    This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in more visual way. Since the formulae and procedures are incorporated in the package, it is always an easy and time saving to create charts. Unlike other graphing programs, Excel is much more cost effective as it plays many different roles, and can be used for so many different things.
    2. Data organisation:
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this buy ativan 2.5 mg effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.
    3. Programming:
    When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming.
    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

  127. Avatar Chisalum Emmanuel Chinecherem says:

    Chisalum Emmanuel Chinecherem
    2019/249408:

    1i. Direct job creation
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

    oo. Contribution to GDP growth

    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    iii. Emergence of new services and industries

    Numerous public services have become available online and through mobile phones. The transition to cloud computing is one of the key trends for modernization. The government of Moldova is one of the first countries in Eastern Europe and Central Asia to shift its government IT infrastructure into the cloud and launch mobile and e-services for citizens and businesses. ICT has enabled the emergence of a completely new sector: the app industry. Research shows that Facebook apps alone created over 182,000 jobs in 2011, and that the aggregate value of the Facebook app economy exceeds $$12 billion.

    iv. Workforce transformation

    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.

    v. Business innovation

    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2i) Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    ii) Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    iii) Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    iv) Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!
    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    v) Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.
    Putting forward all these uses, MS Excel has been proved to be an important resource for business and financial analysis. If you want to, you can learn more about this programme and take courses here

  128. 1. Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs. This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.

    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.

    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.

    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.

    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    However, this is not an unlimited scope and ICTs do have limitations, especially in the area of information failures. In ICTs, all routes to economic growth pass through the domain of information and unfortunately, this very domain of information is limited in developing countries by five types of information failures, namely absence, poor quality, uncertainty, asymmetry and cost of information.
    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth.
    And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are still struggling to lift significant portions of their population out of poverty, the slightest bit of cost associated with information, such as the cost of travel, bureaucracy etc. will prevent people from accessing it.
    Therefore, with the I (information) component of ICT facing such severe restraints, the role that ICTs can play in delivering economic growth in developing countries becomes limited.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.

    2. Among the computer programs which exist, Microsoft Excel is one of the most important because of the key role it plays in many sectors. It is the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Many businesses, personal and institutional enterprises have embraced the use of Excel because of its utility and the ability to serve as a visual basic for different applications. The importance of MS Excel can be seen in the different departmental units it is used as follows.

    1. Graphing
    This package plays a very important role in graphing as it has the ability to produce a variety of different charts, which may be used by different departments to represent statistical data in more visual way. Since the formulae and procedures are incorporated in the package, it is always an easy and time saving to create charts. Unlike other graphing programs, Excel is much more cost effective as it plays many different roles, and can be used for so many different things.

    2. Data organisation
    Data is raw, unprocessed information, which needs to be stored in a systematic and organised manner. To achieve this buy ativan 2.5 mg effectively, one needs to use Microsoft Excel. Excel gives the users the ability to set up tables, in which they can organise their data and provide updating keys too. The benefits of data organisation using excel are felt by administrators who always have so much information that needs to be updated regularly. The Excel tables will help administrators to observe the progress of single as well as combined statistics such as report trends and product complexities.

    3. Programming
    When it comes to programming, you find out that MS Excel supports almost all the programming language applications used in creating macros. This makes it easy to solve complex functions thus increasing the efficiency in programming.

    Finally, the knowledge of Microsoft Excel is vital in most of the modern organisations for the purpose of proficiency. Many organisations want to keep systematic and up to date records of their products, programs and activities. Therefore individuals who are proficient in creating or coming up with Excel macros are considered as assets to a given organisation.

  129. 1. ICT for socio-economic development: A citizens’ perspective
    Author links open overlay panelPrashantPalviaaHamidNematia
    https://doi.org/10.1016/j.im.2017.05.003
    Get rights and content
    Highlights

    We build a theoretical framework for the socio-economic impacts of ICT.


    A model to describe the socio-economic impacts of ICT on citizens is developed.


    The study uses the interpretive approach and the narrative research method.

    Abstract
    There is a widespread belief that information and communication technologies (ICTs) can play a significant role in the socio-economic development of a developing country. ICT has the potential to affect many aspects of economic and societal activities such as GDP growth, employment, productivity, poverty alleviation, quality of life, education, and healthcare. While the literature provides a myriad of definitions and elements of socio-economic development, the focus tends to be on theoretical conceptualizations from various disciplines and impacts from isolated individual projects. In particular, the impact of ICT on socio-economic development has not been carefully examined from the viewpoint of the ultimate stakeholder, the citizens of a country, who are the final consumers of the technology. This study fills this gap by focusing on the citizens’ view in describing ICT-driven socio-economic development in a developing country. A theoretical framework influenced by the “capabilities approach” was developed to guide this research, and the interpretive stance was used to conduct the study. More specifically, the narrative research method, which is seldom used in IS research but is appropriate for this study, was used. Narratives allow deeper and profound insights into social representations and participants’ beliefs about the role of ICT in socio-economic development. Using this methodology, a model of the impact dimensions of socio-economic development is presented.

    2. Microsoft Excel is a spreadsheet program that is primarily used to store and make sense of large chunks of data. From sorting the data to performing basic operations, to performing higher-level operations — there’s a lot that Excel offers to its users.
    With a working knowledge of MS Excel, you’ll be able to organise and manipulate a large amount of data which can be otherwise time-consuming, mundane and difficult to do. Excel has, over the years, grown to become the skill that manifolds increase one’s chances of securing a job. If you’re a fresher with knowledge of Excel, you can start your career as an analyst. Further, if you’re aiming to work in the business sector, you’ll definitely need to ace Excel in order to manage finances, human resources, and inventory.
    1. Improved Time Management
    If you’re looking to successfully own and run a business, or even work in a corporate, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy.
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    2. Holistic look at the data
    When you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.
    3. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    4. Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    If even before you’ve joined a corporate, you’re good with finances management, and using Excel to perform analytics, you’ll be an asset for the company you go to. Further, chances are the organization you’ll enter already uses Excel or some similar software. So, with your working knowledge, you’ll be all set to leave your mark in the professional world.
    5. Data visualization techniques and ideas
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.
    In the form of pie charts, bar charts, histograms, and more, you can display all your data, findings, and future patterns in a visually attractive manner. In doing so, you’ll ensure that everybody in your organization — from marketing teams to sales teams, from engineers to higher management — is on the same page in terms for all the data, predictions, and decisions.
    There are many more sophisticated tools as well, to perform better and higher-level data visualization. However, for students, it’s crucial to know the visualization techniques using Excel to have a good headstart in their career. For instance, students pursuing B.Com or M.Com know how to create demand and supply curves, they learned how to predict the future based on data, how to calculate net profit. All of this can be easily replicated in Excel for better and easier understanding.

  130. 1. Since the ICT-related surge in the 1990s and early 2000s there has been a major, persistent
    slowdown in productivity growth across a range of economies. The most likely explanation for
    this is that the slowdown is part of a cyclical process underpinned by technology, in particular
    ‘waves’ that relate to the development of General Purpose Technologies (GPTs).
    The other major explanation of the slowdown relates to mismeasurement, specifically the idea
    that a large fraction of the consumer surplus generated by internet-related goods and services
    is not being captured effectively in the national accounts. However, rigorous estimates of
    internet-related consumer surplus struggle to account for the gap implied by the productivity
    slowdown.
    In this report we put forward some original research on: (1) the role of ICT-related research in
    generating ideas via knowledge spillovers, (2) a study of the history and economic
    consequences of UK broadband since 2000, and (3) an analysis of recent US employment data
    in relation to automation.
    As we outline below, the two main policy implications of our research are that (1) the high
    knowledge spillovers that occur with respect to ICT-related innovations suggests that there is a
    window for the government to produce social returns through support for R&D in this area, and
    (2) the automation challenge will need to be met by a comprehensive skills policy and that the
    tax treatment of skills investment (for example, via a Skills and Training Tax Credit) could be
    a central part of this.
    ICT as a Generator of Ideas
    We outline a framework for studying knowledge spillovers between patents. These spillovers
    represent the cumulative process of inventions influencing the development of other inventions.
     Specifically, this framework is based on a new measure that we call ‘Patent Rank’ which applies
    the principles of Google’s Page Rank algorithm for web search to the network of global patent
    citations. This lets us evaluate not just the number of cites that accrue to individual patents but
    also their influence in terms of the extended chain of citations.
    ICT technologies generate on average substantially larger knowledge spillovers than those
    generated by other technology areas and this holds even when ICT is compared to other frontier
    fields such as biotech and clean energy.
    For instance, as part of the results below we find that wireless technologies generate on average
    more than 50% higher knowledge spillovers than other comparable fields.

    The Next Wave? Automation and the Future of Work
    Existing work has identified what can be characterised as a ‘first wave’ of automation based
    around the displacement of low skill ‘routine’ jobs and growth of high-skill ‘non-routine’ jobs.
    The 1980s and 1990s saw the disappearance of middle skill routine jobs. Importantly, the
    relative growth of high skill non-routine jobs slowed down markedly in the 2000s while low
    skill ‘non-routine manual’ jobs increased.
    Our main analysis relates to a study of US Occupational Employment Statistics (OES) data for
    the 1999-2016 period. This data allows for an analysis of 600-700 occupations on an annual
    basis. Further to this, these occupations have been matched to measures of task content data
    from the occupational skills database O*Net. This allows us to define a full set of occupational
    task groups across routine, non-routine, manual, analytic and inter-personal task types.
    In our main exercise, we test whether employment and wage patterns moved according to the
    level of different task inputs. For example, did occupations that are highly intensive in non routine analytic tasks grow faster than occupations that were still high skill but slightly less
    intensive in these tasks? Since we are able to control for broad occupational groups our analysis
    is able to distinguish between relatively fine differences in task structure.
    Over the period from 2000-2010 there is pervasive evidence that employment patterns moved
    in line with initial levels of task content. For example, a shift in task content from the 35th
    percentile of the non-routine analytic task distribution to the 70th percentile is associated with
    a 5.7% difference in US occupational employment growth over 10 years. A similar shift in
    routine manual task content was associated with a 5.2% decline in employment. Amongst low
    skill occupations growth was strongest for occupations with high levels of manual interpersonal tasks.
    The growth of wages was flat with respect to most measures of task content over the 2000-
    2010 period. This is consistent with other recent studies that have reported sluggish wage
    growth across the labour market in this period.
    Considering the decade of the 2010s up to the year 2015, there is no evidence that employment
    or wages are growing in line with task content measures. However, this does not imply that the
    influence of technological change on the labour market has ‘slowed down’. An analysis of year by-year changes shows that developments in the 2010s were driven by reallocation during the
    recession years of 2009 and 2010. The fact that a major recession has not occurred in the 2010s
    (yet) is likely to account for the secular pattern of job growth in this period.
    Based on recent employment trends, there is no evidence that a turning point has been reached
    in the pattern of jobs that could be affected by advances in automation. However, the past
    evidence indicates that structural transformations in employment take place during recessions
    so the most likely starting point for a ‘second wave’ of automation affecting a new class of jobs
    is the next downturn.
    In terms of platform-based ‘gig’ format work, the current best estimate is that 0.5% of the US
    workforce is engaged in this type of work. This represents a pattern of high growth from a low
    base and the estimates suggest that gig economy growth can account for a large fraction of US
    employment growth since the last recession. The most likely scenario for the future is continued
    strong growth and the question is whether it will level off, perhaps as a result of regulatory
    action (for example, limitations on rideshare services). A point of interest at the moment is
    whether current strong employment conditions will translate into a rebound in traditional jobs
    or as an expansion of contingent work.

    2.Excel is a spreadsheet programme developed by Microsoft in 1985, with the sole purpose of helping businesses compile all their financial data, yearly credit, and yearly debit sheets. Fast forward to the future after 31 years, it is now the most commonly used program for creating graphs and pivot tables. However, many still believe it is just a mere tool for small business purposes. That’s WRONG! Today, we are going to look at some of the major important purposes MS Excel is most used for. So, let’s start!

    IMPORTANCE OF MS EXCEL IN OUR DAILY AND BUSINESS LIVES:
    Easy Arithmetic Solutions
    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

    Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  131. Avatar Ikegbuna chinonso says:

    Ikegbuna chinonso
    2019/243114
    Milesmaurice34@gmail.com

  132. Avatar Ikegbuna chinonso says:

    Ikegbuna chinonso
    2019/243114
    Milesmaurice34@gmail.com

  133. Avatar SIMON PATIENCE PRECIOUS 2019/244760 says:

    1.The roles of ICT in Economics and Economic Development are:
    a.Creation of new services and businesses
    ICT has helped in this field allot in that some businesses are only available online even without meeting the owner or knowing the owner business still goes and both parties that is, the buyer and the seller achieve their aims just making use of their phones or laptops.
    There are also many apps like Facebook, Instagram and so on that people use in communication and trading thereby giving them the opportunity to make money.

    b. Job Creation
    Today, we find allot of people working from that various home even without showing up at their working place, that’s how much the Economy is developed.ICT has created so many job opportunities, as long as you’re a literate you can go online and search for jobs and even use your phone to start up and online business.

    C. Contribution GDP Growth of a Nation
    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.

    d. Business recreation
    The internet provides various online businesses with new ways of reaching out to their customers and competing for market share. Social media is a very powerful marketing tool,ICT tools employed within companies help to streamline business processes and improve efficiency. Majority will never survive without ICT

    2.The relevance of Excel in today’s academic and socioeconomic world

    a. It provides all of the standard spreadsheet functionalities which makes it useful for other analysis and data manipulation tasks including generating graphical and other presentation formats
    b.Excel performs several different and usual inferential statistical test like student T-test, confidence interval etc that are widely used in business and management research
    c. Excel can be used for data entry, manipulation and press but also offers a suite of statistical analysis functions and other tools that can be used to run descriptive statistics
    d.Excel can be useful when preparing data for analysis in those econometric packages
    e. Excel has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations.

  134. Avatar Omeye Adanna Ngozika (2019/242941)- Economics says:

    Omeye Adanna Ngozika (2019/242941)- Economics

    1. ICT can be defined as gadgets and devices that enable people connect globally and digitally. ICT as we all know is important as it provides us with these functions:

    A. ICT helps in enhancing production: Companies that do not take part in using technology in this 21st century is lagging behind because with ICT, production is made faster and better.

    B. ICT ensures efficiency: Man can get tired and sick after taking part in a strenuous work but with ICT works are carried out with ease thereby ensuring efficiency. With technology, any amount of goods needed in the country is produced. This is the reason why developed countries like USA and China always carry out production efficiently unlike developing African countries.

    C. Profitability: when the man power needed for production is handled by ICT gadgets, the number of inputs are reduced since the amount of labour needed will reduce. When this happen, profits will be high in the economy.

    D. Upgrading: An entrepreneur can make his business known globally with the use of technologies. ICT is helpful in making business owners interact with clients even without been physically present.

    E. Information: Through ICT gadgets, information that are helpful for the growth of an economy is known. Information is powerful for every economy and with ICT, such power can be attained.

    2. Excel has made an impact in both the academic and socioeconomic world which are:

    A. Finance and Accounting: Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.

    B. Marketing and Project management: Woth excel, the sales of product and consumer services rendered can easily be gotten without stress. Excel also help us in getting to know how future transactions will look like based on past transaction made.

    C. Human resources planning: Through excel, information about employees can be computed. This information could be summarizing expenses and hours by pay period, month, or year, and better understanding on how the workforce is spread out by function or pay level.

    D. Easy arithmetic calculations: Excel is helpful in computing calculations such as With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.

  135. Avatar Adigwe Anthony Chibuikem says:

    Name: Adigwe Anthony Chibuikem
    Reg Number: 2019/245463
    Department: Economics
    Course Code: ECO 236

    1. Roles of ICT in Economics and Economic Development:
    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2. Relevance of Excel in academic and socioeconomic world:
    The effective use of ICTs by enterprises can result in greater productivity leading to greater competitiveness and thus sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets. The Internet is dramatically changing the way goods and services are produced, delivered, sold and purchased. It leads to an ever growing number of people and businesses connected digitally, ready to participate in and contribute to the knowledge economy. The use of the Internet empowers weak players in the global economy – such as small business owners in developing countries – by providing them with information, communication and knowledge they could not access before. Trade in goods and services is expanding thanks to new technologies. Evidence shows that growth in ICT goods and services trade has been higher than growth in total trade. In addition, ICTs enable trade in other sectors by enhancing market access and broadening the customer base, facilitating customs, transport and logistics. Most importantly, ICTs play an economic role by changing production processes within firms.
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

  136. Avatar Ogbuagu Chiamaka Rosita says:

    Name: Ogbuagu Chiamaka Rosita
    Reg no: 2019/241915
    Department: Economics
    Course title: Computer application for economics.
    Course code: Eco 236

    1. Information and Communication Technologies (ICTs), in the simplest way possible, can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs.

    2. Best way to store data
    Even if you don’t use any of the options or any tool which Excel offers you, it is the best way to store data. Why I’m saying this because Excel is a kind of application that is used by millions of people.
    So, when you store data in Excel and then share it with others, they can access that it easily.

    You can perform calculations
    What makes Excel the best spreadsheet application on the planet is its ability to perform calculations. In Excel, you have a complete list of functions (Top 100) that you can use for the calculations.
    Basically, an Excel function is a predefined formula that returns a specific result based on the values you specify.

    All the tools for data analysis
    The core motive of having data is to analyze and to get insights out of it. The good news is Excel has some of the most powerful tools to analyze data.
    Imagine you have data with thousands of rows, you can insert a pivot table out of that data and create a summary table.

  137. Avatar Aniukwu chisom sylvia says:

    Name: Aniukwu Chisom Sylvia
    Reg.No: 2019/243386
    Department: Economics
    Course title: Computer application for economics
    Course code: Eco 236
    1. The multifaceted roles of ict in economics and economic development :
    The ICT industry—including telecommunications operators, computer and software producers, electronic equipment manufacturers—is playing an increasingly important role in the global economy. It created approx￾imately 5 percent of total GDP growth between 2003 and 2008, and it represented 5.4 percent of world’s GDP in 2008.Because of its size and the nature of its products, the industry has a notable role to play in encouraging economic growth and contributing to other social goods, including improving education and healthcare access and services. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo￾gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    However, this is not an unlimited scope and ICTs do have limitations, especially in the area of information failures. In ICTs, all routes to economic growth pass through the domain of information and unfortunately, this very domain of information is limited in developing countries by five types of information failures, namely absence, poor quality, uncertainty, asymmetry and cost of information.
    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth.
    And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are still struggling to lift significant portions of their population out of poverty, the slightest bit of cost associated with information, such as the cost of travel, bureaucracy etc. will prevent people from accessing it.
    Therefore, with the I (information) component of ICT facing such severe restraints, the role that ICTs can play in delivering economic growth in developing countries becomes limited.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.
    2.The relevances of excel in today’s academic and socioeconomic world:
    Using Excel can enhance understanding of content within a grahic presentation of the information; it provides a visual representation of data that makes it easier to analyze.
    Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.You can also reverse the traditional process of analyzing data by giving students a completed chart and see if they can reconstruct the underlying worksheet. This goes a long way toward helping them understand the relationship between the data and the chart.
    Excel can easily convert any chart or data set into a web page, making it very easy to share information among groups. Many universities are using this model for data sharing between students who aren’t even on the same continent.
    Excel’s ability to dynamically generate charts and graphs in seconds makes it easy to quickly demonstrate relationships between numbers.As a teaching tool, students can see how different types of graphs and charts can be used to represent the same series of data. As one teacher stated, “For years it took me three to five days to teach kids the use a pie chart, bar graph, and/or a line graph to accurately represent information. Now with Excel, it makes it so much easier because the kids are far more motivated to use the application to manipulate data and to chart any information.”
    One of the best things is that you can compare data between any two or more variables. Using storage devices (disks), you can store data and use it to conduct a comparative analysis of any information that you have collected over time. For example, you can compare data collected by a group of collaborating teachers within one school, one county, or around the world.

  138. Avatar Anyanwor Chinenye Frances says:

    ANYANWOR CHINENYE FRANCES
    2019/244250
    ECONOMICS

    1. Roles of ICT in Economics and Economic Development:
    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.
    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    2) Relevance of Excel in Economics and Economic Development:

    Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    Contract administrators like to use MS Excel because it provides a no-fuss means of recording contract details, including dates, milestones, deliverables and payments.
    Many different contract management templates are available, and these can be adapted to suit the particular contract type or stage of the contract lifecycle.
    Job examples: building contract administrator, contracts administrator, estimator / contracts administrator, graduate contracts administrator, lease administrator, quote and tender administrator.
    Excel is a good platform for managing programs. It can be adapted to handle the specific characteristics of a given program. And, because MS Excel is widely known, program records can easily be managed by multiple people and, when the time comes, handed over to a new manager.
    A program is like a project, but may be ongoing and can depend on participation by users. MS Excel helps managers allocate resources, keep track of progress, and maintain participant records.

  139. Avatar Ugoh Jessica Chioma. 2019/245722 says:

    1. The multifaceted roles of ICT in Economics and Economic development are as follows;
    • ICT contributes to rapid technological progress and productivity growth.
    • Firms use ICTs to organize transnational networks in response to international competition and the increasing need for strategic interaction.
    • ICT provides the infrastructure needed to achieve economic sustainable development goals.
    • ICT contributes to higher employment and standard of living improvements.
    • ICT helps firms to be more competitive.

    2. The relevance of excel in today’s academic and socioeconomic world are as follows;
    • Excel can be used to transform and clean data.
    • With excel, you can code to automate.
    • Excel enables one to print reports easily.
    • You can perform calculations on excel.
    • Using excel is the best way to store data.
    • Excel reduces the difficulty of plotting data and allows students a means for interpreting the data.
    • Excel enables faster and more accurate decision making for students
    • If you’re aiming to work in the business sector, you’ll definitely need to ace excel in order to manage finances, human resources and inventory.

  140. Avatar Moneke Favour Chibuzor says:

    Name: Moneke Favour Chibuzor
    Reg Number: 2019/249605
    Department: Economics
    Course Code: ECO 236

    * Roles of ICT in Economics and Economic Development:

    The important economic impact of ICT is linked to having a sector producing ICT goods and services. Having such a sector can be important for growth, since ICT-
    production has been characterized by rapid technological progress and very strong demand. The sector has therefore grown very fast, making a large contribution to economic growth, employment and exports. Moreover, having a strong ICT sector may help firms that wish to use the technology, since the close proximity of producing firms might have advantages when developing ICT applications for specific purposes. Having an ICT-producing sector can thus support growth, although previous OECD work has shown that it is not a prerequisite to benefit from the technology.
    An impact of ICT that shows up at the aggregate level is linked to the use of ICT. Several studies have examined the performance of those sectors of the economy that are intensive users of ICT. Most of these are located in the services sector, e.g. industries such as finance, business services and distribution. In some countries, notably the United States and Australia, there is evidence that sectors that have invested most in ICT, such as wholesale and retail trade, have experienced an increase in the overall efficiency of using labour and capital, or multi-factor productivity growth. This could be because these sectors have received productivity gains from ICT use over and above the labour productivity gains they received from investment in ICT, for instance because of network effects.

    * Relevance of Excel in academic and socioeconomic world:
    The effective use of ICTs by enterprises can result in greater productivity leading to greater competitiveness and thus sustainable economic growth, a precondition for poverty reduction. ICTs are expanding the possibilities of developing economies to participate in international markets. The Internet is dramatically changing the way goods and services are produced, delivered, sold and purchased. It leads to an ever growing number of people and businesses connected digitally, ready to participate in and contribute to the knowledge economy. The use of the Internet empowers weak players in the global economy – such as small business owners in developing countries – by providing them with information, communication and knowledge they could not access before. Trade in goods and services is expanding thanks to new technologies. Evidence shows that growth in ICT goods and services trade has been higher than growth in total trade. In addition, ICTs enable trade in other sectors by enhancing market access and broadening the customer base, facilitating customs, transport and logistics. Most importantly, ICTs play an economic role by changing production processes within firms.
    The ICT sector is, and is expected to remain, one of the largest employers. In the US alone, computer and information technology jobs are expected to grow by 22% up to 2020, creating 758,800 new jobs. In Australia, building and running the new super-fast National Broadband Network will support 25,000 jobs annually. Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobs, on average, are created in other sectors. In 2013, the global tech market will grow by 8%, creating jobs, salaries and a widening range of services and products.

  141. Avatar Ihediohamma Gloria Chiamaka 2019/246443 says:

    1.ICT’s potential has enforced the business world to substitute and modify conventional capital and labour. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technolo- gies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits.
    Nevertheless, due to the relative high ICT investment and use, economic processes and trade are more and more influenced by the creation, dissemination, accumulation, processing and application of information and knowledge. ICT’s multidimensional capabilities facilitate extensive innovations in products and processes, and thus lead to a more productive exploitation of capital and labour. ICT’s wide scattered application allows new business models and management practices, new products embedding ICT, easier expansion to global markets and ICT-enabled emergence of new markets.

    2. Information and communication technologies (ICT) play a significant role in all aspects of modern society. ICT have changed the way in which we communicate with each other, how we find needed information, work, conduct business, interact with government agencies, and how we manage our social lives. As ICT affect everyday lives, they also impact the macroeconomic growth, which in turn further affects society by enabling infrastructure and standard of living improvements.
    Although the concept of ‘socioeconomic development’ is widely applied in research and in practice, its meaning may not always be clear. The word ‘development’ implies progress or advance, and may be defined as the overall activity in a society, consciously or subconsciously undertaken, aimed at improvements in that society (Stec, Filip, Grzebyk, & Pierscieniak, 2014). The qualifier ‘socioeconomic,’ itself a combination of two words, relates to social factors, like education, and profession, as well as economic factors, like income and resources. Thus socioeconomic development can be defined as a process of changes or improvements in social and economic conditions as they relate to an individual, an organization, or society as a whole.

  142. Avatar Igbadi Odiya Danladi says:

    Name: Igbadi Odiya Danladi
    Reg nO: 2019/244347
    Department: Economics
    COURSE: COMPUTER.
    Email: odiyadanladi190@gmail.com

    Information and Communication Technologies (ICTs), can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources.The following are important roles ict plays Economic growth and development.
    1. Strengthening competition in ICT goods and services: Competition in ICT goods and services requires attention, as continued technological change is creating new challenges to competition in many markets.
    2. Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede reorganisation or competition between firms also need to be addressed. The experience ofcountries such as Australia shows that structural reform is key in harnessing the new dynamism that is associated with ICT. Firm creation also needs to be fostered.
    3. Security and trust: Concerns on security, privacy and authentication continue to affect the uptake and use of ICT and should remain a priority for policy to boost the economy of the country.4. Barriers to the effective use of ICT in services: Sector-specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.
    5. Innovation: ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT. To strengthen innovation, policy needs to give greater priority to fundamental research, improve the effectiveness of public funding and promote the flow of knowledge between science and industry.
    6. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information.
    7. Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    8. Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    many developing countries have achieved important economic gains in nurturing the development of domestic ICT industries. is not enough, however, to place ICTs onto the development agenda without also addressing other critical elements of the development equation. A nations regulatory environment in particular can have a profound impact on ICT utilization and ICT industry growth.
    Question 2 Answer
    The relevance of Excel in today’s academic and socioeconomic world.
    Using Excel for business has almost no limits for applications in academic and socia-economic world.
    First, Excel in the workplace is to do business analysis.Business analysis is essentially using collected data to inform decision making. Businesses naturally gather data in their day-to-day activities, which may be data on product sales, website traffic, spending on supplies, insurance claims, etc.
    Business analysis is the activity of converting data into something useful to the people who run the business. For example, you could run a profitability report by the day of the week. If the business always loses money on a Sunday, then that’s information management could use to make a decision (such as closing on Sundays).
    2. People Management
    You may be surprised to learn that one of the top uses of Excel in business is to manage people. And enhance socioeconomic performance of a country. Excel is a powerful way to organise information about people, whether they are employees, customers, supporters, or trainingdHere are some examples:
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Use complex calculation methods, like Sharpe ratios.
    Excel is not going anywhere, and businesses will continue to use Excel as a primary tool for diverse functions and applications ranging from IT projects to company picnics.

    A working knowledge of Excel is vital for most office based professionals today, and stronger Excel skills can open the door to promotion and leadership opportunities. Excel is a powerful tool but cannot function alone. It takes a savvy computer user to take advantage of everything Excel has to offer to provide Business Analysis
    Business analysis is essentially using collected data to inform decision making. Businesses naturally gather data in their day-to-day activities, which may be data on product sales, website traffic, spending on supplies, insurance claims, etc.
    3.Easy Arithmetic Solutions
    :Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    4. Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    5.Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    6.Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    7.Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    8. Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  143. Avatar Omitoogun Matteen Omidayo 2019/244704 says:

    1. Information and communication technology (ICT)enables Economic growth by broadening the reach of technologies such as high speed internet, mobile broadband and computing. Expanding these technologies itself create growth and the fact that technologies make it easier for people to interact and make workers more productive and create additional benefits.
    Economic growth refers to the continuous increase in the output of goods and services from one year to another year in an economy.
    ICT will enhance a productive growth in the economy by making use of highly intense technological instruments which enhance growth in the economy.

    2. To sum up the broad benefit of learning Excel for Student include faster and more accurate decision making.quick calculations seamless data visualization and lot more. Many students accross the globe are waking up these benefits and starting to master the art of microsoft excel.

  144. Avatar Ugwu Faith Chinonso says:

    Name: Ugwu Faith Chinonso,
    Reg no, 2019/250098
    Department: Economics
    COURSE: COMPUTER.

    Information and Communication Technologies (ICTs), can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources.The following are important roles ict plays Economic growth and development.
    1. Strengthening competition in ICT goods and services: Competition in ICT goods and services requires attention, as continued technological change is creating new challenges to competition in many markets.
    2. Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede reorganisation or competition between firms also need to be addressed. The experience ofcountries such as Australia shows that structural reform is key in harnessing the new dynamism that is associated with ICT. Firm creation also needs to be fostered.
    3. Security and trust: Concerns on security, privacy and authentication continue to affect the uptake and use of ICT and should remain a priority for policy to boost the economy of the country.4. Barriers to the effective use of ICT in services: Sector-specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.
    5. Innovation: ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT. To strengthen innovation, policy needs to give greater priority to fundamental research, improve the effectiveness of public funding and promote the flow of knowledge between science and industry.
    6. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information.
    7. Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    8. Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    many developing countries have achieved important economic gains in nurturing the development of domestic ICT industries. is not enough, however, to place ICTs onto the development agenda without also addressing other critical elements of the development equation. A nations regulatory environment in particular can have a profound impact on ICT utilization and ICT industry growth.
    Question 2 Answer
    The relevance of Excel in today’s academic and socioeconomic world.
    Using Excel for business has almost no limits for applications in academic and socia-economic world.
    First, Excel in the workplace is to do business analysis.Business analysis is essentially using collected data to inform decision making. Businesses naturally gather data in their day-to-day activities, which may be data on product sales, website traffic, spending on supplies, insurance claims, etc.
    Business analysis is the activity of converting data into something useful to the people who run the business. For example, you could run a profitability report by the day of the week. If the business always loses money on a Sunday, then that’s information management could use to make a decision (such as closing on Sundays).
    2. People Management
    You may be surprised to learn that one of the top uses of Excel in business is to manage people. And enhance socioeconomic performance of a country. Excel is a powerful way to organise information about people, whether they are employees, customers, supporters, or trainingdHere are some examples:
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Use complex calculation methods, like Sharpe ratios.
    Excel is not going anywhere, and businesses will continue to use Excel as a primary tool for diverse functions and applications ranging from IT projects to company picnics.

    A working knowledge of Excel is vital for most office based professionals today, and stronger Excel skills can open the door to promotion and leadership opportunities. Excel is a powerful tool but cannot function alone. It takes a savvy computer user to take advantage of everything Excel has to offer to provide Business Analysis
    Business analysis is essentially using collected data to inform decision making. Businesses naturally gather data in their day-to-day activities, which may be data on product sales, website traffic, spending on supplies, insurance claims, etc.
    3.Easy Arithmetic Solutions
    :Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    4. Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    5.Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    6.Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    7.Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

  145. Avatar Igbadi Odiya Danladi says:

    Name: Igbadi Odiya Danladi
    Reg nO: 2019/244347
    Department: Economics
    Email address: odiyadanladi190@gmail.com
    COURSE: COMPUTER.

    Information and Communication Technologies (ICTs), can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources.The following are important roles ict plays Economic growth and development.
    1. Strengthening competition in ICT goods and services: Competition in ICT goods and services requires attention, as continued technological change is creating new challenges to competition in many markets.
    2. Improvement on business environment: This includes having an environment that provides access to finance, allows firms to change the organisation of functions and tasks, helps workers acquire the skills they need in a rapidly changing global environment, and promotes good management practices. Rigid regulations of product and labour markets that impede reorganisation or competition between firms also need to be addressed. The experience ofcountries such as Australia shows that structural reform is key in harnessing the new dynamism that is associated with ICT. Firm creation also needs to be fostered.
    3. Security and trust: Concerns on security, privacy and authentication continue to affect the uptake and use of ICT and should remain a priority for policy to boost the economy of the country.4. Barriers to the effective use of ICT in services: Sector-specific regulations reduce the development of new ICT applications and limit the capability of firms to seize the benefits of ICT. Further reform of regulatory structures is needed to promote competition and innovation, and to reduce barriers and administrative rules for new entrants and start-ups.
    5. Innovation: ICT is closely linked to the ability of firms to innovate, i.e. introduce new products, services, business processes, and applications. Firms that have already innovated achieve much better results from ICT than those that have never innovated. Policies to harness the potential of innovation are thus of great importance in seizing the benefits of ICT. To strengthen innovation, policy needs to give greater priority to fundamental research, improve the effectiveness of public funding and promote the flow of knowledge between science and industry.
    6. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information.
    7. Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    8. Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    many developing countries have achieved important economic gains in nurturing the development of domestic ICT industries. is not enough, however, to place ICTs onto the development agenda without also addressing other critical elements of the development equation. A nations regulatory environment in particular can have a profound impact on ICT utilization and ICT industry growth.

    Question 2 Answer
    The relevance of Excel in today’s academic and socioeconomic world.

    Using Excel for business has almost no limits for applications in academic and socia-economic world.
    First, Excel in the workplace is to do business analysis.Business analysis is essentially using collected data to inform decision making. Businesses naturally gather data in their day-to-day activities, which may be data on product sales, website traffic, spending on supplies, insurance claims, etc.
    Business analysis is the activity of converting data into something useful to the people who run the business. For example, you could run a profitability report by the day of the week. If the business always loses money on a Sunday, then that’s information management could use to make a decision (such as closing on Sundays).
    2. People Management
    You may be surprised to learn that one of the top uses of Excel in business is to manage people. And enhance socioeconomic performance of a country. Excel is a powerful way to organise information about people, whether they are employees, customers, supporters, or trainingdHere are some examples:
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Use complex calculation methods, like Sharpe ratios.
    Excel is not going anywhere, and businesses will continue to use Excel as a primary tool for diverse functions and applications ranging from IT projects to company picnics.

    A working knowledge of Excel is vital for most office based professionals today, and stronger Excel skills can open the door to promotion and leadership opportunities. Excel is a powerful tool but cannot function alone. It takes a savvy computer user to take advantage of everything Excel has to offer to provide Business Analysis
    Business analysis is essentially using collected data to inform decision making. Businesses naturally gather data in their day-to-day activities, which may be data on product sales, website traffic, spending on supplies, insurance claims, etc.
    3.Easy Arithmetic Solutions
    :Perhaps the most important use of MS Excel is using its ability of mass arithmetic calculations. With a vast program full of formulae, it can add, subtract, multiply and divide hundreds of numbers altogether, and can easily re-do it if a value is changed or added. This feature can be used to easily make a company’s yearly sales and other spreadsheets.
    4. Formatting Options
    The various formatting options, including italics, highlighting, and colours, allow businesses to bring the most important data to be different from the rest. A number of tasks achieved through this tool are beyond impressive, with entire row highlighting and comparing lists and values to name a few. You can use them to highlight specific entries in Accounting.

    5.Availability of Online Access
    Excel is part of the Office 365 Productivity Suite, Which means that business employers and their employees can easily access their files over the cloud network, free from the bondages of file transfer. Using a web-enabled PC, mobile or tablet, you can use the same programme and access the same file remotely, making it easy to do changes if you can’t access your PC and need to send the spreadsheet immediately!

    6.Charts for Analysis
    If you are working in a large association where the boss wants the detailed visual representation of the various sectors of the business, you’ll need to draw charts. MS Excel makes it easy to do so! After filtering and correctly inputting data, you can turn it into a Pie Chart or Clustered Columns with a single click. Even better, it allows you to customise the colours and boundaries of the charts and pie diagrams!

    7.Bring all the data in one place
    Containing over 1,048,576 rows and 16,384 columns each in the spreadsheet, with hundreds of them, or even more if your PC is capable, in a single file, Excel allows you to create spreadsheets bigger than 20 A1 papers! You can import data from other spreadsheets and add pictures and other objects through the insert tab, making it easy to put all the data you collected in various files in one place.

    8. Human Resource Planning
    Although there are other systems such as Oracle, or QuickBooks for planning this, Excel allows you to manage it all in one file! You can summarise an employee’s expenses, their pay per hour, and easily discover wrong entries. Human Resource Professionals use this to take the whole employee journal in bulk and use it to plan future credit and decide whether to invest more or not, making it important for the control of the future.

  146. Avatar ONYISHI CYNTHIA CHETACHI says:

    NAME: ONYISHI CYNTHIA CHETACHI
    DEPARTMENT: ECONOMICS
    REG NO.: 2019/243107

    Role Of ICTs In Economic Growth
    Information and Communication Technologies (ICTs), can be defined as all the devices, applications and systems that allow people and organisations to interact in and with the digital world.
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources.
    There are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use.
    As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP.
    The act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold, this simple act of exchange generates millions of dollars in revenue to the governments. This revenue is economic growth.
    The economic growth brought on by the use/application of ICTs.
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Conclusion:
    it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth.

  147. Avatar Omeje Christopher Obinna says:

    OMEJE CHRISTOPHER OBINNA
    2019/245701
    ECONOMICS

    A) Roles of ICT in Economics and Economic Development:
    Findings from various countries confirm the positive effect of ICT on growth. For example, a 10% increase in broadband penetration is associated with a 1.4% increase in GDP growth in emerging markets. In China, this number can reach 2.5%. The doubling of mobile data use caused by the increase in 3G connections boosts GDP per capita growth rate by 0.5% globally. The Internet accounts for 3.4% of overall GDP in some economies. Most of this effect is driven by e-commerce – people advertising and selling goods online.
    New “microwork” platforms, developed by companies like oDesk, Amazon and Samasource, help to divide tasks into small components that can then be outsourced to contract workers. The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers. In 2012, oDesk alone had over 3 million registered contractors who performed 1.5 million tasks. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
    In OECD countries, more than 95% of businesses have an online presence. The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help to streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.

    B) Relevance of Excel in academic and socioeconomic world:
    With respect to uses of Excel, strategic analysis is where business decisions are closely connected to the data and formulas on spreadsheets. You apply Excel to guide actions such as investments and asset allocations.
    As an example, based on an Excel model, you may decide to take out currency insurance. Spreadsheet analysis is designed to inform business decisions in a specific way.
    Job examples: asset manager – realty management division, mergers and acquisitions valuations – analyst, membership and campaigns strategist, portfolio administration associate, portfolio analyst, portfolio associate – wealth management, portfolio management officer – asset finance.
    Although project managers have access to purpose-built project management (PM) software, an Excel Workbook is often an effective alternative.
    Projects are business activities that typically have a budget and start and end dates. Project plans can be placed into a workbook, which can then be used to track progress and keep the project on schedule.
    An advantage of using Excel is that you can easily share the project workbook to others, including to people who are unfamiliar with, or lack access to, custom PM software.
    Account managers are generally required to be competent MS Excel users since they receive and need to maintain customer records.
    The job of an account manager is to nurture relationships with existing clients of the business. Key goals are to achieve customer loyalty and repeat sales. It’s a marketing kind of role and a popular career for MBA graduates.
    Excel is commonly used in account management since it provides a simple way to share and maintain client files.
    Job examples: account coordinator, advertising manager, design studio account manager, digital account manager, junior account manager.

  148. Avatar OJOMAH FAVOUR ONYEKACHUKWU says:

    NAME: OJOMAH FAVOUR ONYEKACHUKWU
    REG NUMBER: 2019/244245
    DEPARTMENT: ECONOMICS
    DATE: 18th January 2022.
    COURSE CODE: ECO 236
    1.The role of ICT in economic growth and development can never be over emphasized. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. In view of the above assertion, clearly discuss the multifaceted roles of ICT in Economics and Economic Development
    It is evidenced by case studies of various nations that ICTs can contribute to the national GDP and help improve market competitiveness of a country’s goods and services. ICTs also have a positive impact on a country’s governance and promote its international economic integration, improve living standards, narrow inequality and improve the utilisation of natural resources. All these functions of ICTs make it a key player in the 21st century in enhancing the economic growth of developing countries; because ICTs can help them make up for what they lack in industrial resources by catching up to the developed world in terms of information. This importance is also reflected in the fact that most of the countries today have national “e-strategies” and donor agencies routinely invest in them.
    Now, in developing countries, there are mainly two ways in which ICTs contribute to economic growth. One is through their manufacturing and another is through their use. As ICTs are a combination of various individual technological entities, they require manufacturing. And most of this manufacturing is outsourced by the developed countries to the developing countries. This point can be illustrated by the examples of China and India. China is the manufacturing hub for Apple and India is the country which handles the software designing and packaging work outsourced by Microsoft. Such process of outsourcing helps provide decent jobs to thousands of people in the developing countries thus, contributing to poverty reduction.
    Also, such companies not only bring their jobs but also their knowledge, which they impart on to the workers of the developing countries. This equips the labour force with skills which means that even if the outsourcing companies were to leave, the people would have necessary skills and expertise to get a job somewhere else or even start their own ventures. All of these serve to make the economy more productive and efficient – delivering economic growth.
    Furthermore, setting up manufacturing points and industries in the developing countries means paying taxes to these countries which will directly contribute to the GDP and GNP. Also, we know that industries and especially ICT industries are not isolated entities but part of a larger value chain. Thus, the impacts mentioned above do not stay limited to one sector but branch to multiple sectors; all contributing simultaneously to the economic growth of a nation.
    Then there is the act of buying and selling. ICTs, regardless of their place of manufacture, often always find their way into the markets of the developing countries where they are bought and sold. And just this simple act of exchange generates millions of dollars in revenue to the governments depending on the size of the market. This revenue is economic growth. This is how the physical aspects of ICTs help deliver economic growth in the developing countries.
    But aside from these physical aspects, there is also the economic growth brought on by the use/application of ICTs. This can best be described through the following “five routes to economic growth:”
    Economy: ICTs vastly increase the access to data and information crucial to the supply chain, at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thus increasing the efficiency and productivity. All of these end up promoting economic growth.
    Efficiency: The use of ICTs can make an entire nation more efficient. The production sector becomes efficient as a labour force comprised of human activity complimented by technology becomes faster, longer and much more diligent than a solely human staff. Also, ICTs when adopted at the state level brings about “e-governance” which brings transparency, accountability and greatly streamlines the often-painstaking bureaucracy of the developing countries. This reduces corruption and makes entrepreneurial activities much simpler by removing the middlemen and the time-consuming hassles. Also, the need to make repeated lengthy journeys for activities such as meetings, ordering, delivering etc. is also reduced as ICTs bring about journey substitution. These, in turn, not only energise domestic commercial activity but also attract foreign investment. Thus, enlarging and enhancing the economy.
    Profitability: When the cost of input decreases and the process becomes efficient then the output produced is of high quality. This output can then be sold at a high-value market (the information about which is also obtained from ICTs). Add to that, a transparent and corruption-free process, as discussed above, and this greatly increases the profitability of produced goods of a nation. This also helps in delivering economic growth.
    Upgrading: Upgrading is changing the production process from a lower value to higher value ones. ICTs also help in this. With the use of ICTs, a business can take itself online where it may be able to expand its coverage area by getting more orders from different places. ICTs can also play a role in delivering these orders with technologies like drones being employed for the purpose. The payment process is also greatly modernised with various e-payment platforms being utilised. Thus, the whole process gets upgraded in value.
    Restructuring: Restructuring means a shift of resources from a lower productive sector to a higher productive one. As discussed in the points above, ICT makes many sectors of the economy highly productive while at the same time, it opens up completely new sectors of production. Thus, investment of resources can be concentrated in these sectors which will yield maximum benefits for the economy of developing countries.
    Thus, with the cost of inputs significantly decreased, production streamlined, outputs yielding higher profits, previously low-value sectors upgraded and entirely new sectors opened up for investments, this is how ICTs help deliver economic growth in developing countries.
    However, this is not an unlimited scope and ICTs do have limitations, especially in the area of information failures. In ICTs, all routes to economic growth pass through the domain of information and unfortunately, this very domain of information is limited in developing countries by five types of information failures, namely absence, poor quality, uncertainty, asymmetry and cost of information.
    Absence of information means that the key information that the development actors need such as the population of a place, literacy rate, sex ratio, livelihood data, internet penetration rate etc. are not available or at least the means to obtain such information are not available. Poor quality of information means that even if the information is available, they may not be of the required quality and usually not in an open format. Uncertainty of information suggests that the information may be available and may be of the desired quality but still, the accuracy of it may be questionable in developing countries; as most of the time the methodology will not be adequately given and the data collection and analysis procedure will not be clearly elaborated. Then, there is the problem of asymmetry where some development actors have access to key information that others lack. And due to the lax regulations and implementation in developing countries, such actors who do have the information start acting as middlemen and use that information for power and profit instead of passing it on to others and acting as facilitators for the economic growth.
    And even if none of these information failures exist and quality and reliable information is available to all in an open format, even then, access to such information would be hindered by the cost. Many developing countries are still struggling to lift significant portions of their population out of poverty, the slightest bit of cost associated with information, such as the cost of travel, bureaucracy etc. will prevent people from accessing it.
    Therefore, with the I (information) component of ICT facing such severe restraints, the role that ICTs can play in delivering economic growth in developing countries becomes limited.
    But, all in all, it is of no doubt that ICTs have a significant role to play in delivering and accelerating economic growth. In the developing countries, this role becomes even more vital as they have tried and failed to do so with more traditional means. ICTs can be utilised in a two-pronged approach to bring growth to countries.
    Firstly, the setting up of industries for their manufacture and the market activity generated by their consumption generate direct revenue to the government and also generate thousands of direct and indirect jobs.
    Secondly, the use of ICTs helps facilitate start-ups and other entrepreneurial activities which have a broad impact on the whole value chain and contribute to poverty alleviation. ICTs reduce the costs of input and make the production process cheaper and more efficient. Thus, more value can be levied on the output which in turn makes the business profitable. Multiply these individual effects by thousands of businesses employing ICTs and then we get a macro-level national economic growth

    2. Excel is assumed to be the most used spreadsheet program in many business activities, classwork and even personal data organisation. Excel was first released in the year 1985. Since then, it has played a vital role in performing formula based arithmetic and calculations, and other activities that may require mathematical calculations. Against this background clearly discuss the relevance of excel in today’s academic and socioeconomic world.
    1. Improved time management
    If you’re looking to successfully own and run a business, or even work in a corporate, you’ll be dealing with multiple tasks daily. To be successful, therefore, you’ll need to be productive and quick at your tasks. For that, the various features of Excel come in quite handy.
    You can increase productivity and improve time management by having a command on all the frequently used shortcuts of Excel. You can also use macros and other formulas to automate your tasks. These little pushes that Excel offers give you a lot of free time to focus on more difficult things, while Excel takes care of most of the regular, mundane, formula-based tasks.
    2. Holistic look at the data
    When you’re managing a large pool of data, it’s very easy to get lost in it. If you tend to analyze data numerically, you’ll find it difficult to extract meaningful patterns and resources, and therefore, you won’t be able to make accurate predictions from the data that you have at hand.
    This is where Excel comes in handy. It offers you features like conditional formatting using which you can highlight rows for similar conditions. This way, you’ll have a visual aid for all the data — so, you won’t need to focus on individual data points, but can look at the bigger, holistic picture, and make predictions that are more likely to come true.
    Excel also allows you to create many pictorial representations like pie charts, graphs, histograms and more, to simplify data presentation. This helps everyone in your organization, group, or project come on the same page regarding the understanding of data at hand.
    3. Faster, more accurate calculations
    With the formulas that Excel supports, you get to perform faster calculations automatically. If you’re good at Excel, you won’t need to manually perform large numerical calculations that are always time-consuming and often riddled with human errors. Further with advanced excel concepts and knowledge, you’ll be able to tackle even the more complex calculations and operations with just a few clicks, without wasting too much time, and without compromising even a bit on accuracy.
    4. Enhanced analytical skills
    MS Excel opens a lot of creative avenues for students, especially in terms of performing analytics and calculations. Economics is the most important element for any successful business. Many businesses suffer due to people not having enough analytical skills to make sense of the finances and other important metrics. As a result, Excel acts as a saviour for students by equipping them with the necessary knowledge and skills to perform well in their professional careers as well. All in all, Excel can help in building strong analytical skills by managing, analyzing, and performing business and daily life financial calculations.
    If even before you’ve joined a corporate, you’re good with finances management, and using Excel to perform analytics, you’ll be an asset for the company you go to. Further, chances are the organization you’ll enter already uses Excel or some similar software. So, with your working knowledge, you’ll be all set to leave your mark in the professional world.
    5. Data visualization techniques and ideas
    As we’ve mentioned earlier, apart from just performing calculations and offering formulas, Excel also has a huge array of data visualization techniques. Data visualization is an extremely important skill, especially if you’re working with teams of different specialities. Not everybody in the organization is capable of making sense of raw data in the form of numbers, percentages and statistics. Most people need that data to be displayed in an easily-consumable pictorial format. That is where the various visualization methods of Excel come in handy.
    In the form of pie charts, bar charts, histograms, and more, you can display all your data, findings, and future patterns in a visually attractive manner. In doing so, you’ll ensure that everybody in your organization — from marketing teams to sales teams, from engineers to higher management — is on the same page in terms for all the data, predictions, and decisions.
    There are many more sophisticated tools as well, to perform better and higher-level data visualization. However, for students, it’s crucial to know the visualization techniques using Excel to have a good headstart in their career. For instance, students pursuing B.Com or M.Com know how to create demand and supply curves, they learned how to predict the future based on data, how to calculate net profit. All of this can be easily replicated in Excel for better and easier understanding.
    6. Finance and Accounting
    Financial services and financial accounting are the areas of finance that rely on and benefit from Excel spreadsheets the most. In the 1970s and early 1980s, financial analysts would spend weeks running advanced formulas either manually or (beginning in 1983) on programs like Lotus 1-2-3. Now, you can perform complex modeling in minutes with Excel.
    Walk through the finance or accounting department of any major corporate office, and you will see computer screens filled with Excel spreadsheets crunching numbers, outlining financial results, and creating budgets, forecasts, and plans used to make major business decisions.
    Most users know that Excel can add, subtract, multiply, and divide, but it can do much more with advanced IF functions when coupled with VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.
    7.Marketing and Product Management
    While marketing and product professionals look to their finance teams to do the heavy lifting for financial analysis, using spreadsheets to list customer and sales targets can help you manage your salesforce and plan future marketing strategies based on past results.
    Using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.

    8.Human Resources Planning
    While database systems like Oracle (ORCL), SAP (SAP), and Quickbooks (INTU) can be used to manage payroll and employee information, exporting that data into Excel allows users to discover trends, summarize expenses and hours by pay period, month, or year, and better understand how your workforce is spread out by function or pay level.
    HR professionals can use Excel to take a giant spreadsheet full of employee data and understand exactly where the costs are coming from and how to best plan and control them for the future.
    You Can Do Anything With a Spreadsheet
    Using Excel for business has almost no limits for applications. Here are some examples:
    When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
    Excel creates revenue growth models for new products based on new customer forecasts.
    When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
    When creating a budget for a small product, you can list expense categories in a spreadsheet, update it monthly and create a chart to show how close the product is to budget across each category.
    You can calculate customer discounts based on monthly purchase volume by product.
    Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.
    Use complex calculation methods, like Sharpe ratios.

  149. Avatar EZEH KEREN KAMARACHI says:

    Name: Ezeh Keren Kamarachi
    Registration Number: 2019/244045
    Email Address: kerenezeh@mail.com

    1) As a result of the accelerated technological progress and permanent price declines of ICT since the mid-1990s, the last decade was marked by rapid diffusion of ICT throughout the world, especially all over the developed nations. ICT has gradually conquered many various parts of social life and economic processes, e.g., the mobile phone penetration rate averagely exceeds the 95 per cent point and the average worker and household in the developed world features at least one personal computer with access to the Internet, of which a considerable share even uses broadband and wireless access.

    ICT’s potential has enforced the business world to substitute and modify conventional capital and labour. Though the concomitant slowdown in economic growth has hindered the euphoria, ICT investment and application have increased substantially in both developed and developing countries, but to lesser extent and lower level in developing regions, such as Latin America, Middle East, Africa and Eastern Europe.

    Nevertheless, due to the relative high ICT investment and use, economic processes and trade are more and more influenced by the creation, dissemination, accumulation, processing and application of information and knowledge. ICT’s multidimensional capabilities facilitate extensive innovations in products and processes, and thus lead to a more productive exploitation of capital and labour. ICT’s wide scattered application allows new business models and management practices, new products embedding ICT, easier expansion to global markets and ICT-enabled emergence of new markets. Moreover, the impact is even more far-reaching through spill overs induced by ICT- based networking, and has been much increased by the Internet. Through the diffusion of ICT, transaction costs are reduced and facilitate more productive ways of interaction between businesses and division of labour worldwide. Furthermore, ICT allows an easier interchange of international innovators and dissemination of new technologies, and thus accelerates the invention and circulation of new ideas that in turn trigger further technological change. Due to these network effects the impact of ICT increasingly grows crossing the threshold of ICT uptake and becomes more important than ICT investment and production with regard to contribution to economic growth.

    The dramatic alteration of economic conditions by use of ICT challenges governmental regulation systems permanently. Considering the “World Summit on the Information Society” (WSIS) of the United Nations and various global governmental reformations towards ICT-based regulations confirms the importance of ICT and its wide recognition as an economic significant determinant. After the early over-ambitious believe in ICT as the panacea for economic development and growth, it has been finally realized that ICT is not the solution, but an effective tool for fostering economic growth that can make a significant contribution to more efficient growth processes. By now, “…no one has any doubt that ICT have had a significant impact on most countries in the world, especially in the ways of communication, working, and learning.

    The ICT industry—including telecommunications operators, computer and software producers, electronic equipment manufacturers—is playing an increasingly important role in the global economy. It created approximately 5 percent of total GDP growth between 2003 and 2008, and it represented 5.4 percent of world’s GDP in 2008.That share is expected to reach 8.7 percent by 2020.1 Because of its size and the nature of its products, the industry has a notable role to play in encouraging economic growth and contributing to other social goods, including improving education and healthcare access and services. Furthermore, recent McKinsey research shows that the ICT industry can potentially contribute to reducing worldwide CO2 emissions by 15 percent in 2020—an enormous contribution—but we will focus here on the economic and social contributions of the industry. ICT enables economic growth by broadening the reach of technologies such as high-speed Internet, mobile broadband, and computing; expanding these technologies itself creates growth, and the fact that technologies make it easier for people to interact and make workers more productive creates additional benefits. McKinsey estimates, for instance, that just one action—bringing mobile broadband levels in emerging markets up to those of more mature markets—could add between US$300 and US$420 billion to the world’s GDP and 10 to 14 million direct and indirect jobs in areas such as equipment manufacturing and outsourcing/offshoring services. ICT’s role in enabling economic growth has become more significant as governments are investing to stem the effects of the global financial crisis. As US President Barack Obama noted in January 2009, “Increased broadband spending, electronic medical records, green energy investments, and new computers for schools and libraries are all smart ways to keep America competitive while also creating new jobs and spending. UK Prime Minister Gordon Brown has likened his government’s efforts to extend the country’s digital infrastructure to “the roads and the bridges and the railways that were built in previous times to stimulate the economy. They are far from alone—Korea, Rep. (Korea) has long been a leader in broadband investment, and today countries from Greece to Malaysia have committed large amounts of money to develop their ICT sectors. Beyond economic benefits, the ICT industry is uniquely positioned to help build a more socially sustainable future. McKinsey’s most recent consumer survey shows that the ICT industry is perceived to be among the top four industries in terms of its potential contribution to society behind only healthcare, agriculture, and utilities (Figure 2). The importance of ICT increased more than any other sector since 2006, showing that consumers place growing importance on the industry as social contributor. And the has put even more pressure on all industries, ICT included. When one considers that no other industry in the world can reach out to over 4 billion mobile phone owners almost instantaneously, or that 422 million households worldwide were connected to the Internet at the end of 2009, this importance is hardly surprising. Governments have also realized that ICT can offer social benefits, so they have started large programs to improve the level of health, education, and government services they offer to their citizens. For example, as we will explore later in greater depth, ICT is making an important contribution to health delivery: doctors can directly access their patients’ medical records from anywhere. Creating these economic and social benefits will require not only large investments and commitment from different stakeholders but also changes to existing regulatory frameworks, compromises between governments and industries, and strong public engagement. This chapter will detail how ICT drives growth, discuss the economic and social benefits it can create, and suggest some steps stakeholders should take to fully reap them. Investing in ICT to drive economic sustainability Countries have started to invest in ICT because they know that the sector can have a substantial positive impact on social and economic sustainability. Investing in ICT is a key driver of economic development for emerging and the correlation between ICT readiness—the availability of broadband, computers, and software in a country— and competitiveness. The countries with the most advanced ICT sectors present the highest levels of competitiveness, suggesting that having a country enabled by ICT improves the overall performance of its economy in the long run. In fact, investing in ICT can help countries increase their annual GDP growth by 0.6–0.7 percent on average, on an annual basis, for each increase of 10 percent in household penetration, as several studies have shown. This impact is created by a combination of direct and indirect effects on the economy. Direct effects come from investments in infrastructure (by government and operators), increased availability and penetration of services, and increased employment in the ICT sector. A good example of direct effects is seen in Korea, where growth in the ICT sector was 43 percent between 1999 and 2003; in the same period, it was negative in Japan, less than 1 percent in Malaysia, and 5 percent in Singapore. Korea drove this growth by pushing forward a national vision to develop its ICT sector; this required a concerted effort between public and private parties and large subsidies from the state. The country invested more than US$700 million in subsidies between 1995 and 1997 to link around 15,000 institutions in 80 major areas of the country with high-speed fibre networks. It also provided low-interest loans with minimal paper work for individuals to acquire personal computers developed markets alike. The results are not only 99 percent broadband household penetration but also an ICT sector that is heavily entrenched in Korea’s economy: it represents 17 percent of the country’s GDP—making the largest contribution by any single sector—and it accounts for over 43 percent of total exports from the country. The direct effects of ICT can also be seen in bringing ICT services to remote, underserved areas. In this case, direct investments will bring job creation and extra spending that benefit the population in these areas. Telefónica, for example developed the Intégrame initiative in Peru, which aims at extending ICT services via public-private partnerships. As a result of these partnerships, mobile, landline, Internet access, and television services are now offered using wireless technology at better tariffs to 62,300 people in 180 locations throughout the country. Further, Intégrame has opened new markets for Telefónica and increased the speed of social and economic development through the inclusion of rural communities. ICT’s indirect effects include productivity gains for businesses, increased foreign direct investments as a consequence of a country being ICT-enabled, the creation of innovative industry clusters such as knowledge cities, and higher exports of ICT services such as outsourcing. The Indian Tobacco Company, an Indian conglomer largest exporters of agricultural commodities, created e-Choupal in 2000 as a supply chain management system to reach farmers. These have traditionally sold their products through inefficient physical marketplaces where they are forced to take whatever price is offered because they have limited access to information on mar