Modelling Stochastic Adverse Effects of Economic Turbulence on Performance of Nigerian University Lecturers and Students: A Numerical Investigation
Keywords:
Economic Turbulence, Nigerian University, Performance, Government, Absolute volatility ErrorAbstract
It is a well-known fact that the prosperity and economic growth of any nation depends on the contributions of its University Education. Despite its convincing and impactful contributions, Nigerian University Education is consistently faced with Economic turbulence. Economic turbulence in Nigerian Universitiesisrecently characterized and fueled by the Federal Government contributory economic policies of introduction of IPPIS, 2023 CBN redesigned naira note policy, 2023 Fuel subsidy removal which caused inflation and high exchange rate, negligence in honouring FG-ASUU 2009 agreements for University growth and school fees increment in the Nigerian Universities which result to adverse effects of decaying reading or research culture and low performance - level volatilities and uncertainties among Nigerian University Lecturers and their students. This paper aims to investigate and proffer solutions to the undesirable effects of these economic turbulences on Nigerian University Lecturers and students' performance through a numerical investigation. These adverse effects are able to generate future delay and volatility-noise in the financial market which influences the Nigerian University Lecturers and students performance. The Government's contributory economic policies which result in adverse effects of economic turbulence are modeled as Econometric Stochastic Time-Delay Differential Equation (ESTDDE). The modelled equation is solved using a Family of Seventh Order Implicit Hybrid Extended Block Adams Moulton Methods (FSOHEBAMM) with the help of new sequences for evaluations of the delay term and the noise term. Numerically, through mathematical experiments and the results obtained after solving some examples of the modelled equation, this study recommended the best ways to overcome the adverse effects of economic turbulence which affect the Nigerian University Lecturers and students performance.
