Mohd Zharif Mohd Amin
Furzianne Mohd Nawawi
Nurul Ain Hamdan
Did You Know?
Future information technology would stand for all of continuously evolving and converging information technologies, including digital convergence, multimedia convergence, intelligent applications, embedded systems, mobile and wireless communications, bio-inspired computing, grid and cloud computing, semantic web, user experience and HCI, security and trust computing and so on, for satisfying our ever-changing needs.
In the future world, IT will play a very important role in convergence of computing, communication, and all other computational sciences and application and IT also will influence the future world's various areas, including science, engineering, industry, business, law, politics, culture, medicine, and so on.
Future Trends in Digital Marketing
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In the future world, IT will play a very important role in convergence of computing, communication, and all other computational sciences and application and IT also will influence the future world's various areas, including science, engineering, industry, business, law, politics, culture, medicine, and so on.
Future Trends in Digital Marketing
" Information technology changes business activities. In other words, thanks to advanced information technology, knowledge-based workers, who create and utilize information, play a key role in economic activities. (Hwang Eui-Hwan,1999) "
The Current Model of Economy
IT has brought changes in certain area;
Augmented Reality
The Current Model of Economy
IT has brought changes in certain area;
• Changes in production structure - industrial age to the information age. As a result, there is a growing demand in the service fields that require expert knowledge and information. Existing service industries such as banking and distribution are enhancing efficiency and expanding their business areas. New industries on the basis of information technology such as software industry and information processing service are rapidly growing.
• Changes in investment structure - As information technology changes the aspects of competition, investment is made more in the area of information and communications that promotes productivity and speed up decision-making process than in the facilities increasing the production capability.
• Changes in employment structure - The number of workers in manufacturing sector is drastically reduced by shrinking share of its production. But employment in information and knowledge-intensive service sector is increasing with automation and investment in information technology. In the occupational categories, there are more demands for experts with creativity and information technology.
Malaysia current Economy Trend
Augmented Reality
Current Trends of Social Media
" Information technology changes business activities. In other words, thanks to advanced information technology, knowledge-based workers, who create and utilize information, play a key role in economic activities. (Hwang Eui-Hwan,1999) "
THE TRADITIONAL ECONOMY
An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. Countries that evolve their economies past the traditional level often develop into market economies or command economies.
In the mid 1960 to 1990, the economy enhanced by using skilled human capital, manual procedure and other traditional methods for example buying transaction using barter system. Barter is a method of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.
Traditional Economy Model
Industry GDP Share 1900-1995
Since 1940s, we can see that in driven of heavy production requirements of World War II, the manufacturing overtake the traditionally dominant agriculture sector.
In the 1950s and 60s manufacturing remained buoyant (Sinclair, 1976, pp 211-262), while services provided the engines of growth, with economic growth in these two decades some way above the 20th century average (Commonwealth of Australia, 2001). In contrast, primary industries declined gradually as a share of GDP.
Structure of the Malaysian economy (contribution to GDP)
" is all social science to help you open your eyes towards distribution, consumption of goods, production and services "
The IMPORTANT of Economics
The IMPORTANT of Economics
•Consumers - Consumers are always in search of maximization of satisfactions. It is Economics which provides basic principles to maximize satisfaction.
•Producers - The ultimate objective of a producer is to maximize profit in case of profit and minimize loss in case of loss. It is the study of Economics which provides guideline to hit the target.
•Government - Planning and development strategies, budget, monetary policy, fiscal policy etc. are major concerns of the government. Government depends heavily upon economists for policy decision - making.
•Rulers - Economic tactics are the most effective tactics to win the favour of masses. Hence it is must for a successful ruler to have the awareness of at least basic knowledge of Economics.
•Labour - Labourer enriched with the knowledge of Economics can realize their role and importance to the employer in production process. Hence Economics enables them to enjoy higher wages.
“In the 1960s and 1970s, the term information technology (IT) was a little known phrase that was used by those who worked in places like banks and hospitals to describe the processes they used to store information. With the paradigm shift to computing technology and "paperless“ workplaces, information technology has come to be a household phrase. It defines an industry that uses computers, networking, software programming, and other equipment and processes to store, process, retrieve, transmit, and protect information..’’
-WiseGeek.Com-
‘’…the use of computers and software to manage information…’’
As information technology advances, robots and other forms of automation will ultimately result in significant unemployment as machines and software begin to match and exceed the capability of workers to perform most routine jobs.
As robotics and artificial intelligence develop further, even many skilled jobs may be threatened. Technologies such as machine learning may ultimately allow computers to do many knowledge-based jobs that require significant education. This may result in substantial unemployment at all skill levels, stagnant or falling wages for most workers, and increased concentration of income and wealth as the owners of capital capture an ever larger fraction of the economy.
This in turn could lead to depressed consumer spending and economic growth as the bulk of the population lacks sufficient discretionary income to purchase the products and services produced by the economy.
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As robotics and artificial intelligence develop further, even many skilled jobs may be threatened. Technologies such as machine learning may ultimately allow computers to do many knowledge-based jobs that require significant education. This may result in substantial unemployment at all skill levels, stagnant or falling wages for most workers, and increased concentration of income and wealth as the owners of capital capture an ever larger fraction of the economy.
This in turn could lead to depressed consumer spending and economic growth as the bulk of the population lacks sufficient discretionary income to purchase the products and services produced by the economy.
