Economic Expansion & Change Lesson 8 Middle Ages Economic Expansion & Change Lesson 8

Agenda Goals - Students will be able to describe the initial emergence of a modern economy Tasks Please Do Now: Take out notebooks Power Point on second half of section 8.4 Computer Lab: review first draft Homework Unit Project due next class Materials: Power Point Do Now – 10 minutes Power Point – 15 minutes Lab – 40 minutes Vocabulary: Charter Capital Usury Guild Apprentice

Trade Routes 1000-1300 Last class we learned that between 1000-1300 Europe experienced global warming. What were the results of this? What does this map tell you about trade in Europe between 1000-1300? Increase in stability (less wars) + Population growth = More Trade As population and stability increased, people began to meet near navigable rivers to conduct trade fairs. Peasants traded animals and farm goods Nobles traded luxury items like silk, fine wool, swords, and sugar Trade centers became the first cities with between 10,000 and 100,000 people – largest since Rome.

Economic Changes Capital, money for investments Tenant Farmers Banks Partnerships Insurance Bill of Exchange (check) Tenant Farmers Merchant/Artisan Middle Class As more goods became available, manorialism and a barter economy no longer worked. Lords needed money to buy luxuries, weapons, etc. Peasants sold farm products and fulfilled their obligations to lords by paying with money (or rent,) not labor or grain. By 1300 most had become tenant farmers; money undermined serfdom. From where did these new ideas about banking, bills of exchange, capital, and insurance come? Check = sakk Merchants/artisans included some independent women. This class was despised by Nobles & Clergy Why might they have despised them? – losing control. Made usury a sin for Christians.

Commercial Revolution Charters - Written document set out rights and privileges of the town Guilds – Associations Craft guilds required apprenticeship, or training, from young age Cities (urbanization) Merchants would, in exchange for setting up a Charter, pay the lord a large fee. Granted townspeople right to choose leaders & control affairs Serf clause: “Town air makes free.” Peasants/serfs began to escape to new urban areas (cities) and as a result, anyone who lived in the town for a year and a day was free – Peasants no longer bound to the land Merchant Guilds Passed laws Levied taxes Made public works decisions Became quite powerful Craft Guilds Based on occupation Limited membership to reduce competition Enforced quality control Regulated hours of labor and pricing Provided social services Lives of women changed Inherited fathers’ workshops Became apprentices and possibly, guild masters Dominated silk and woolen guilds Protecting each guild’s own economic interests sometimes lead to conflict and even riots. After many years living and assisting masters for only room & board, few apprentices became guild masters themselves, but remained journeymen or salaried workers who worked for low wages. Cities: Surrounded by high walls; crowded; dark; dirty; noisy; centers of cultural sharing New goods, ideas, and technology circulated within and across towns as trade grew. Economic revival would bring Europe back into a global sphere and out of their “Dark Ages.”

Homework Presentations next class (lesson 9) Resume Cover Letter 10 typed questions Presentation