Networking and telecommunication involves the transmission of information over distances using telecommunication networks. There are different types of communication including simplex, half duplex, and full duplex. Key aspects of networking and telecommunication discussed in the document include bits, bandwidth, computer networks, networking devices like servers and workstations, transmission media, networking architecture models like client-server and peer-to-peer, types of computer networks including LAN, MAN and WAN, and communication protocols.