Just as Windows phone, you can configure your Android phone as WiFi access point. I must say that this is more then practical option. I use it almost every day, since public WiFi in cafes or else can be lousy.
Go to settings (Slide 1) and then select More under WIRELESS & NETWORKS (Slide 2.).
Select Tethering & portable hotspot (Slide 3.) and then check Portable WiFi hotspot and select settings bellow in order to configure access point (Slide 4.).
First choose if you want your SSID to be Discoverable, or broadcasted if you prefer. Check this option for yes. Now select Configure Wi-Fi hotsopot (Slide 5).
Configure Network SSID (or how your network will be presented), Security level (WPA2 PSK is prefered) and the password to secure SSID (Slide 6. ). Save it and you are ready to go.
I hope that this tutorial was informative to you and thank you for visiting this website.