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

(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

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.

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.

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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

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

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

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.

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.

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.

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.

Ikegbuna chinonso
2019/243114
Milesmaurice34@gmail.com

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.

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.

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.

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.

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.

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.

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.

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.

Name: Oke Amarachukwu Nnenna
Reg Number: 2019/241949
Department: Economics
Course Code: ECO 236

1. 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.

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.

Agu Chiedozie Christian
2019/243418
Economics

1) Roles of ICT in economics and economic development:
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.
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:
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.

Namw: Uzochukwu Chidinma Vivian
Registration Number: 2017/250786
Department: Economics
Date: 18-01-22

1) Roles of ICT in econmics and economic development:
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.

2) Relevance of Excel in academic and socioeconomic world:
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 life cycle.
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.

EZEUGWU CHIDERA PAUL – 2019/241560
ECO 236

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 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.

Innocent Love Ihunanya
2019/251037
Innocentloveihunanya@gmail.com

1: ICT have over the years played major roles in economic development and in economics. From employment opportunities, health improvement, communications to entertainment, let’s not forget the negative role of cyber crime and the rest.
a; Employment opportunities are one of the major role of ICT in economic development and economics. People now have access to programs like excel, pinpoint, etc which create employment like web design. Economics now use excel for their everyday course as it gives access to graphics.
b; ICT helps to cut down cost by reducing of paper work of the health care, improvement in patient safety by having access to stories similar to the patient case and keeping track the patient progress.
c; Telephone and wireless line and computer connect people of different countries. We can communicate via phone or email to our customers, families and friends. Information of what is happening around the world is being send and received through ICT devices like radio, television, the internet and the rest.
d; Through ICT, games have been made, instead of sitting bored, one can play games, stream movies, surf through the internet for amusing stories or videos.
Let’s not forget that cyber crime, an act that is against the law is perpetrated through ICT is gradually distroying our norm. Cyber crimes like fraud, internet robbery, are done by using ICT to target systems, data, network, website and others.
But despite the negative role of ICT, it has being playing a major role in our economic development and in economics.

2: Excel is very important in today’s academic. Students learn how to use excel to transform raw data into information, do basic calculations faster, how plan financially in excel, represent data in graphs, tables or pie for easy understanding, how to keep track of progression and what to expect in the future. Teachers uses excel to keep records of their teaching, calculate their salaries salaries. Excel if use in a effective way in socioeconomic world and academic will play a major role in development. Excel is very important in business and finances, its division, subtraction, multiplication and addition are important to business owners and finances for their everyday business. It also helps in marketing goods and services by designing the business web or product.

1. 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. 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​

1:Study reveals that the adoption of ICT not only contribute to innovation by directly enhancing its output,but also affects the creation of knowledge along two different paths in manufacturing firms.ICT mediates research and development to foster innovation sales and it is an effective moderator in leveraging externally acquired knowledge.
The ICT industry has developed rapidly and it now plays an important role in establishing firm competitiveness and driving economic growth.
Countries with advanced technology like Japan and so on is dominated by investments in ICT and productivity growth in both industries and economy as a whole.
ICT facilitates communication for innovation eg:telephone,email etc it has developed an analytical framework to explore the direct innovation impact of ICT as well as its indirect roles in fostering economic development.ICT provides necessary infrastructure to guarantee and reinforce the innovation return on investment.

2:Excel is a powerful tool that has become entrenched in business processes worldwide whether for analyzing stocks or issuers,budgeting or organizing client sales list.
Data system like oracle (ORCL) SAP,Quickbook(INTU) can be used to manage payroll and employees 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
Excel can be used to create budget for a small product,you can list expenses categories in spreadsheets,update it monthly and create a chart to show how close the product is to budget across each category.
Excel can be used to summarize customer revenue by product to find areas where to build a strong customer relationships.
Excel enables fast and more accurate decision making,quick calculations,seamless data visualization and a lot more for academic purpose.
It helps to convert raw Data into meaningful information
It makes it easy for students to handle a large amount of data and information easily and accurately in d future.

Name: Edwin Chinedu Augustine
Reg no: 2019/249508
Department: Economics Major
Faculty: Social Science
Date: January 18,2022

1)
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.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 contribu-
tions of the industry.2
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. 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.”3 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.”4 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 contri-
bution to society behind only healthcare, agriculture,
and utilities.The importance of ICT
increased more than any other sector since
showing that consumers place growing importance on
the industry as social contributor.
Source:The Global Information Technology Report 2009-2010 @ 2010 World Economic Forum

2)
A) BUSINESS ESSENTIALS
The Importance of Excel in Business
By ERIC ROSENBERG Updated July 22, 2021
Fact checked by PETE RATHBURN
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.

B)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.

C)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.

D)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.

E) 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.
Conclusion
Excel Is Not Going Anywhere
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 the best results for their company.
Source: Investopedia
Edited by Eric Rosenberg

Name: Uche Miracle Chiamaka
Department: Economics
Reg. No: 2019/241948
Course Code: Eco 236
Question 1: Role of ICT in Economics and Economic Development.
The ICT business including media communications administrators, PC and programming makers, electronic
gear producers is playing an inexorably
significant job in the worldwide economy. It made approximately 5% of complete GDP development between 2003 and it addressed 5.4 percent of world’s GDP in 2008.That offer is relied upon to arrive at 8.7 percent by
2020.
1. Because of its size and the idea of its items,
the business plays a prominent part to play in empowering monetary development and adding to other social products, including further developing instruction and medical care
access and administrations. Moreover, late McKinsey research shows that the ICT business might possibly add to diminishing overall CO2 outflows by 15 percent in 2020.
2.ICT empowers monetary development by widening the reach of advancements like high velocity Internet, portable broadband, and registering; extending these technologies itself makes development, and the way that innovations make it simpler for individuals to communicate and make laborers
more useful makes extra advantages.
3.Proficiency: The utilization of ICT can make a whole country more proficient. The creation area becomes proficient as a workforce contained human movement praised by innovation turns out to be quicker, longer and significantly more industrious than an exclusively human staff. Additionally, ICT when embraced at the state level achieves “e-administration” which brings straightforwardness, responsibility and significantly smoothes out the regularly careful organization of the agricultural nations. This lessens defilement and makes pioneering exercises a lot easier by eliminating the brokers and the tedious problems. Additionally, the need to make rehashed extended excursions for exercises like gatherings, requesting, conveying and so forth is likewise decreased as ICT achieve venture replacement. These, thus, stimulate homegrown business action as well as draw in unfamiliar venture. Consequently, developing and improving the economy.
4.Benefit: When the expense of info diminishes and the cycle becomes proficient then the result created is of great. This result can then be sold at a high-esteem market (the data regarding which is additionally gotten from ICT). Add to that, a straightforward and defilement free cycle, as talked about above, and this enormously expands the productivity of created merchandise of a country. This likewise helps in conveying financial development.
5.Overhauling: Upgrading is changing the creation cycle from a lower worth to higher worth ones. ICT likewise help in this. With the utilization of ICT, a business can take itself online where it could have the option to extend its inclusion region by getting additional orders from better places. ICT can likewise assume a part in conveying these orders with innovations like robots being utilized for the reason. The installment interaction is additionally enormously modernized with different e-installment stages being used. Along these lines, the entire cycle gets overhauled in esteem.
5.Rebuilding: Restructuring implies a shift of assets from a lower useful area to a higher useful one. As examined in the focuses above, ICT makes numerous areas of the economy exceptionally useful while simultaneously, it opens up totally new areas of creation. In this manner, venture of assets can be amassed in these areas which will yield greatest advantages for the economy of agricultural nations.
Accordingly, with the expense of data sources altogether diminished, creation smoothed out, yields returning higher benefits, already low-esteem areas updated and completely new areas opened up for ventures, this is the means by which ICT assist with conveying monetary development in emerging nations.
In any case, this is certifiably not a limitless extension and ICT truly do have constraints, particularly in the space of data disappointments. In ICT, all courses to financial development go through the area of data and tragically, this very space of data is restricted in non-industrial nations by five kinds of data disappointments, in particular nonattendance, low quality, vulnerability, deviation and cost of data.
Nonattendance of data implies that the key data that the advancement entertainers need, for example, the number of inhabitants in a spot, education rate, sex proportion, work information, web infiltration rate and so on are not accessible or possibly the resources to get such data are not accessible. Low quality of data implies that regardless of whether the data is accessible, they may not be of the necessary quality and typically not in an open organization. Vulnerability of data recommends that the data might be accessible and might be of the ideal quality yet at the same time, its precision might be problematic in non-industrial nations; as more often than not the technique won’t be sufficiently given and the information assortment and examination strategy won’t be plainly expounded. Then, at that point, there is the issue of deviation where a few improvement entertainers approach key data that others need. What’s more because of the careless guidelines and execution in non-industrial nations, such entertainers who truly do have the data begin going about as brokers and utilize that data for power and benefit as opposed to giving it to other people and going about as facilitators for the monetary development.
Furthermore regardless of whether none of these data disappointments exist and quality and solid data is accessible to all in an open organization, and still, at the end of the day, admittance to such data would be frustrated by the expense. Many emerging nations are as yet battling to lift huge segments of their populace out of destitution, a tiny smidgen of cost related with data, for example, the expense of movement, organization and so forth will keep individuals from getting to it.
Accordingly, with the data part of ICT confronting such serious limitations, the job that ICT can play in conveying monetary development in non-industrial nations becomes restricted.
However, with everything taken into account, it is of no question that ICT play a huge part to play in conveying and speeding up monetary development. In the non-industrial nations, this job turns out to be considerably more imperative as they have fallen flat to do as such with more conventional means. ICT can be used in a two dimensional way to deal with carry development to nations.
First and foremost, the setting up of ventures for their production and the market action created by their utilization create direct income to the public authority and furthermore produce great many immediate and aberrant positions.
Besides, the utilization of ICT works with new businesses and other innovative exercises which extensively affect the entire worth chain and add to destitution lightening. ICT diminish the expenses of info and make the creation interaction less expensive and more productive. In this manner, more worth can be demanded on the result which thus makes the business productive. Duplicate these singular impacts by huge number of organizations utilizing ICT and afterward we get a large scale level public financial development.
2. Relevance of Excel in Today’s Academic and Socio-economic World
Microsoft Excel is an accounting page program that is principally used to store and figure out huge lumps of information. From arranging the information to performing fundamental activities, to performing more significant level tasks – there’s a ton that Excel offers to its clients.
With a functioning information on MS Excel, you’ll have the option to sort out and control a lot of information which can be generally tedious, commonplace and hard to do.
1.Further developed using time productively
On the off chance that you’re looking to effectively possess and maintain a business, or even work in a corporate, you’ll manage various undertakings every day. To be fruitful, subsequently, you’ll should be useful and fast at your errands. For that, the different elements of Excel come in very helpful.
You can build efficiency and further develop using time effectively by having an order on every one of the regularly utilized alternate routes of Excel. You can likewise utilize macros and different equations to mechanize your errands. These little pushes that Excel offers provide you with a great deal of spare energy to zero in on more troublesome things, while Excel deals with a large portion of the customary, commonplace, recipe based undertakings.
2. Comprehensive glance at the information
At the point when you’re dealing with an enormous pool of information, it’s extremely simple to become mixed up in it. Assuming you will generally break down information mathematically, you’ll think that it is hard to extricate significant examples and assets, and consequently, you will not have the option to cause exact forecasts from the information that you to have nearby.This is the place where Excel proves to be useful. It offers you includes like contingent organizing utilizing which you can feature columns for comparative conditions. Thusly, you’ll have a visual guide for every one of the information in this way, you won’t have to zero in on individual items, yet can check out the greater, comprehensive picture, and make expectations that are bound to materialize.
Dominate likewise permits you to make numerous pictorial portrayals like pie diagrams, charts, histograms and then some, to improve on information show. This aids everybody in your association, gathering, or venture come in total agreement in regards to the comprehension of information close by.
3.Quicker, more precise estimations
With the recipes that Excel upholds, you get to perform quicker estimations naturally. Assuming you’re great at Excel, you won’t have to physically perform huge mathematical estimations that are tedious and regularly perplexed 100% of the time with human blunders. Further with cutting edge dominate ideas and information, you’ll have the option to handle even the more complicated estimations and activities with only a couple of snaps, without burning through a lot of time, and without compromising even a piece on precision.
4.Improved insightful abilities
MS Excel opens a ton of innovative roads for understudies, particularly as far as performing examination and estimations. Financial matters is the main component for any fruitful business. Numerous organizations experience because of individuals not having an adequate number of scientific abilities to figure out the funds and other significant measurements. Accordingly, Excel goes about as a friend in need for understudies by outfitting them with the vital information and abilities to perform well in their expert vocations also. All things considered, Excel can help in building solid insightful abilities by making due, breaking down, and performing business and day to day existence monetary estimations.
If even before you’ve joined a corporate, you’re great with accounts the board, and utilizing Excel to perform examination, you’ll be a resource for the organization you go to. Further, odds are the association you’ll enter as of now utilizes Excel or some comparable programming. Thus, with your functioning information, you’ll be good to go to make some meaningful difference in the expert world.
5.Information representation strategies and thoughts.As we’ve referenced before, aside from simply performing computations and offering recipes, Excel additionally has a gigantic cluster of information perception strategies. Information perception is a critical expertise, particularly on the off chance that you’re working with groups of various specialities. Not every person in the association is fit for figuring out crude information as numbers, rates and insights. The vast majority need that information to be shown in an effectively consumable pictorial organization. That is the place where the different representation strategies for Excel prove to be useful.As pie outlines, bar graphs, histograms, and then some, you can show every one of your information, discoveries, and future examples in an outwardly appealing way. In doing as such, you’ll guarantee that everyone in your association – from showcasing groups to outreach groups, from designers to higher administration – is in total agreement in wording for every one of the information, forecasts, and choices.
There are a lot more complex instruments also, to perform better and more significant level information representation. Be that as it may, for understudies, it’s significant to know the representation methods utilizing Excel to have a decent headstart in their vocation. For example, understudies seeking after B.Com or M.Com know how to drive interest and supply bends, they figured out how to anticipate the future in view of information, how to work out net benefit. All of this can be handily repeated in Excel for better and simpler arrangement.
6.Microsoft Excel is a critical instrument, and it tracks down a job in practically all fields of work nowadays. To summarize, the wide advantages of learning Excel for understudies incorporate quicker and more exact direction, speedy computations, consistent information perception, and significantly more.

Reg no : 2019/250111
1) A) Networking : ICT help in creating a form of network, in which information can pass through. This network created by ICT department allows country’s to communicate with eachother and also facilitate foreign exchange
B) Information : The increasing development in the ICT department has aid ICT to be able to guarantee efficient and accurate information. Which aid government of that particular country to create adequate policy with the information gotten by ICT, to increase economy growth and development.
C) closes the bridge between countries : A good balance of payment is important in the development of any country. ICT provide the tools needed by the government to achieve the macroeconomy goal of balance of payment
D) technology : the level of development of any country depends solely on the level of technology advancement. Develop country have high levels of technology knowledge and equipment, with the help of ICT which improve different forms of technology. ICT can aid a country like Nigeria to develop fast and bring about economic independent.
2 . A) Presentation and Graph : Excel is quite useful in preparing presentation. It takes numerical values and arrange, display them in forms of graphs that shows statistical data used in for presentation.
B) Integration : Excel is Microsoft computer applications that is wildly known. Excel makes things easier for users because it can be integrated with other Microsoft applications to provide efficient organisation of data .
C) Statistical Analysis : Excel quite useful for quantitative data. Excel is an excellent tool for statistical analysis, it can adequately analysis and display descriptive Statistical data. It is also able to run inferential Statistical test like Z test and T test .

Ezeh Patrick Ezenwa
Reg.NO: 2019/244053
1. The role of ICT in Modern Economics and Economic development.
The roles of ict in the economy includes
Economy: ICTs vastly increase the access to data and information crucial to the supply chain, in the economy at significantly reduced costs. Such increased data greatly increases the entrepreneurial activities of a country, thereby 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, 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 likewise helps in delivering economic growth.
Upgrading: Upgrading simply refers to 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. The relevance of excel in today’s academic and socioeconomic world. Its relevance include.
In the area of Finance and Accounting they 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. Most users of excel know that it 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.
Likewise 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. For example using a pivot table, users can quickly and easily summarize customer and sales data by category with a quick drag-and-drop.
In Human Resources Planning, 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.
Human Resource 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.
Excel creates revenue growth models for new products based on new customer forecasts.
Excel enables students to learn faster and better ways to analyze, manipulate and arrange data for clarification. Which students will use at their various occupations in order to produce an outstanding result.They help stidents to know how data is visualized, and help in building thinking and analytical skills.

ECO 236
Name: Sibeudu Chukwuebuka Raluchukwu
Reg. Number: 2019/244735
Department: Economics
Date: 16/01/22

1. ROLES OF ICT IN ECONOMICS AND ECONOMIC DEVELOPMENT:

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.
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.
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.
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. RELEVANCE OF EXCEL IN ACADEMIC AND SOCIAL LIFE:
A) 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.
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.
C) Use of Excel for Goal Setting & Planning:
Goal setting & planning are the kinds of repeated tasks carried on each day. From business owners to students to housekeepers each individual is involved with the process of goal setting and planning. The goal-setting and planning process involves white paper, time, and the immense pressure of calculations, but with the use of MS Excel, this process has become efficient, quick, easy, and environmentally friendly.
D) Use of excel for Developing Future Strategies: 
The data relating to future strategies such as investments and major expenses anticipated at future date can be entered in the form of charts and graphs so it can lead to identify the trends and compare each possibility. Using MS Excel, the trend lines can be expressed through graphs and charts to forecast the future value of money invested.
E) Use of Excel for Event & Project Planning: 
MS Excel is being widely used in the planning of a large work project or holiday or wedding party, where it can keep track of different tasks, efforts, and deadlines, and to analyze the schedules of collaborators in the planning of the event with other participants and make use of excel sheet as a central database of all relevant information required by all members to execute the project or event.

2019/241349

NNA OZIOMA VINE
2019/247263
ECONOMICS DEPARTMENT

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.

2. 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:
When planning a team outing to a baseball game, you can use Excel to track the RSVP list and costs.
1. Excel creates revenue growth models for new products based on new customer forecasts.
2. When planning an editorial calendar for a website, you can list out dates and topics in a spreadsheet.
3. 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.
4. You can calculate customer discounts based on monthly purchase volume by product.
5. Users can summarize customer revenue by product to find areas where to build a stronger customer relationships.