1. Economic Recovery Sparks Change By: Caroline Scala and Arabela Wilson Period: 6

2. Agricultural Revolution 1000s- Agricultural Revolution changed Europe – New technologies – With the crops increasing, the population was also increasing 800s- peasants used iron plows  Used for heavier soils  An improvement over wooden plows  A new harness allowed them to use horses instead of oxen to plow Between about 1000 and 1300, the population of Europe almost tripled.

3. Agricultural Revolution Crop Rotation (also called the three-field system) was introduced. Farming allowed people to build villages along rivers Archeologists have found some villages that are believed to have been built more than 8,000 years ago

4. Agricultural Revolution Most villagers had little meat. Grains Goats and cattle were utilized for their meat and milk Pigs and chickens were utilized for meat

5. Trade and Travel 1100s- feudal war and invasions declined Traders formed companies and exchanged with markets Led by the Venetians, Italian merchants imported more and more goods from the East

6. The Revival of Trade and Travel Trade expanded Merchants of Constantinople bought Chinese silks, Byzantine gold jewelry and Asian spices Livestock and the essential salt were traded in local markets Mediterranean goods→ Northern European goods took place in Champagne

7. Growth of Towns and Cities Trade routes closed in autumn because of the weather Richest cities emerged in Flanders and northern Italy Merchants who established the new towns asked their lord for a charter Settlements attracted artisans bringing goods for the merchants to sell→ became the first medieval cities

9. A Commercial Revolution Marked by an increase in general commerce Growth of financial services such as banking, insurance, and investing Associated with: – overseas trade – increased economic specialization – the establishment of new institutions such as a state bank – New inventions

10. A Commercial Revolution TRADE: Merchants joined together in partnerships Europeans began using Muslim trading methods, using credit instead of cash. Merchants developed an insurance system to reduce business risks: Merchants paid underwriter a small fee

11. Society Changes Feudal lords needed money to buy goods→ They became known as tenant farmers The Church forbid Christians to lend money at interest→ Jews became money lenders→ lead to resentment and the rise of anti-Jewish prejudice.

12. Effects of the Commercial Revolution Population increases → emergence of the middle class Economic depression at the end of the 16 th century New trade restrictions such as in East India Co. →royal monopolies An African slave trade was developed (Triangle Trade)

13. Key Terms Fallow: land that is plowed and left unseeded for a season or more; uncultivated Charter: a written document that set the rights and privileges of the town – Although charters varied from place to place, they almost always granted townspeople the right to choose their own leaders and control their own affairs Monopoly: to obtain or acquire the exclusive possession or control of something Underwriter: investment banker; a banker who deals chiefly in underwriting new securities Triangle Trade: colonial trade routes among Europe and its colonies, the West Indies, and Africa in which goods were exchanged for slaves