Download Economic

Ayesha Bakshi
Mr. Tavernia
AP World History / Period 4
Packet B
Theme 4: Economic - Malacca
Malacca is currently in present-day Malaysia, but in the 14th century it was
mostly known as a fishing village. As soon as the Hindu prince from Sumatra had taken
over Malacca, it became a popular port known for more than just fishing. Parameswar,
the prince, made the place an efficient port for people who needed to supply their
trading ships and it was also a good place to wait out monsoons. Since Malacca is in
between China and India, at the time it was to retrieve spices. With that, the area made
many merchants from the region draw to Malacca.
When the Chinese admiral arrived in Malacca from the Ming Empire, he said he
would give protection from other enemies. After that, many settlers from China came
and created new culture with the locals when they married. Malacca became a very
strong trading state. Malacca was becoming very popular and rich, many foreigners
started to attack the trading state. Eventually the Dutch would rule Malacca and they
infused their European culture on the place with churches and other buildings. Malacca,
at this time, was still popular with their trade. Malacca would be under the rule of the
British, as well.
Balila, Joshua
Mr. Tavernia
Period 3
Packet D
Economic: Hanseatic League
The Hanseatic League was an organization created by northern German towns
and guilds during the Medieval period in order to better protect their mutual trading
interests. Due to their economic organization, the merchants in these towns were able
to charge fair prices to the buyers, while still allowing the merchants to rest assured that
they made a good profit. The Hanseatic League included merchants selling both raw
and manufactured goods, as well as products from the Mediterranean and Asia. The
Hanseatic League also served another purpose, which was to protect traders from the
dangerous conditions faced in Northern/Eastern Europe, such as pirates and robbers.
There was also an effort to provide lighthouses, trained sailors, and other aids in order
to make sure that ocean navigation was as safe as possible.
However, as time progressed, the power of the Hanseatic League slowly
dwindled, to the point where drastic and often restrictive measures had to be taken in
order to maintain what power they still had. This was pushed even further because
globalizing trade networks meant that buyers could obtain goods from elsewhere from a
cheaper price if they so desired. As a result of this, the Hanseatic League shifted its
purpose from trying to defend its domestic market to competing with the national
market. This was done in a variety of ways, such as bribing political officials to make
policy changes, and also simply using their naval power and knowledge to better secure
trade routes in Northern/Eastern Europe.
Ariann Barker
Mr. Tavernia
AP World History Period 4 Packet D
Economic: Guild
Mostly utilized in Medieval Europe, specifically Medieval England, a guild was a
consortium of artisans who monitored and managed the prices of their respective
goods in town. They functioned similarly to workers’ unions, who negotiate and
set the general standards for workers in their area. Guilds in Medieval Europe
additionally formed a system in order to develop the work codes for their crafts.
They were one of the first instances of government involvement with trading, as
governments often gave the platform for them to be in power. Apprenticeships
and such positions were often given to men within the guild, and they were told to
hone their crafts in order to be promoted.
Ariann Barker
Mr. Tavernia
AP World History Period 4 Packet D
Eric Bazail
Mr. Tavernia
AP World History 4
Packet D
Economic: [Hanseatic League]
One of the earliest “Free Trade Organizations,” the Hanseatic League was a group of
German, and later Northern European, cities and principalities which established common prices
for goods and services across the member areas. Arising from the union of various smaller trade
leagues, the Hanseatic League came into full effect by the middle of the thirteenth century, and
used a monopolistic, yet outwardly competitive mold to allow for economic activity.
By the end of the 14th century, the Hanseatic League became its final incarnation, as it
had evolved gradually due to various wars and regional conflicts. However, it quickly
diminished in influence by the turn of the 17th century, but the power it once had over Europe
cannot be denied, as it directly played a role in the economic well-being of critical ports in the
Holy Roman Empire and its merchant classes, leaving behind a strong legacy in place.
Jared Cohen
Mr. Tavernia
AP World History - P.4
Packet D
Economic: Flying Money (Cash)
Cash is a form of currency that is
used around the world. It can be in the form
of paper money, banknotes, and coins.
This form of currency allows people to
take out money immediately. It can allow
the easy transaction of goods for this money.
The money obtained from the trade can then
be put back into an account, where the
money can be taken out again.
Before the production of flying money, people traded by exchanging goods or trading a good for a
service. The first instance of coins is found by the Lydians. The coin created with the Lydian lion. Since
then, mintage of coins and production of currency has been used very often. The Roman Empire used
coins to trade with other cities. After the collapse, the only form of money was these coins. By the 15th
century, the use of coins became a common concept throughout the world.
A benefit of using coins was that they were extremely difficult to be related. If coins were to be
replicated, several differences would exist, such as the difference in weight and noticeable differences
in the engraving.
The ability for the government to control coin
minting and paper money production led to them
controlling inflation. Certain coins became so
useless due to inflation that they became token
money.
Due to increasing amounts of paper money,
inflation has raised in different areas. in the United
states, Britain, and the European Union, the value
of the respective dollar is increasing.
Sydni Dichter
Tavernia
AP World History, Period 4
December 13, 2016
Economic: Flying Money
Flying money is a Tang invention which allowed fro paper to be exchanged for coinage
in other regions. This practice was made popular by the Song. It was easier to carry and transfer
large sums of money without the burden of heavy coins. It was called “flying money” because
the papers often flew away. Although this practice was popular and successful, it led to a lot of
inflation.
Ben Geller Mr. Tavernia AP World History P.4 Packet D Economic: Guild Guild are associations of Merchants and artisans who make and control the craft in their particulate towns. The earliest guilds started as trade associations. This means these locations were the starters of the trade in the respective place. There are also different types of guides that developed over time. For example, there were guiles that specialized in metal craft. Some other guilds focused solely on craft using primarily bronze. Guilds are a key center for doing everything with trade. It is debatably one of the only reasons trade played this big of a factor in history considering it started with all the functions belonging to the guilds. The guilds are connected to the theme of Economics because what is produced from the guilds whether an actual trade product, or a trade deal or idea. The key part that makes this economic is the production coming out of it that assists in trade being one of the main methods countries supported their economy and got their needs. Annita Huang
Mr. Tavernia
AP World/Period 4
Packet: D
Theme 4: Tax Farming
Tax farming is assigning the responsibility for tax revenue collection to private citizens
or groups. This occurred in Egypt, Rome, Great Britain, and greece. Tax farming was considered
to be very effective for tax revenue collection but suffered from a tendency of tax-farmers to
abuse the taxpayer for collection. The system was truly successful when they included the checks
and balances. Rome was known to have the most abusive tax-farmers. In egypt taxes that were
collected were effective till the greek, Ptolemies set up a rule. Ptolemies, the tax-farmer, watched
over the taxpayer and the government tax collector to prevent the scribes from imposing lighter
taxes on the poor and the unfortunates.
Laila Inan
Mr. Tavernia
PD Economic
13 December 2016
Economic: Hanseatic League
The Hanseatic League attempted to protect its ship convoys and caravans by pirates and
brigands, and it fostered safe navigation by building lighthouses and training pilots. Most
importantly, it sought to organize and control trade throughout northern Europe by winning
commercial privileges and monopolies and by establishing trading bases overseas. The league
established permanent commercial enclaves-Kontore- in a number of foreign towns, notably
Bruges in Flanders, Bergen in Norway, Novgorod in Russia, and the Steelyard in London. The
league's principal trade consisted of grain, timber, furs, tar, honey, and flax traded from Russia
and Poland to Flanders and England, which in turn sent cloth and other manufactured goods
eastward to the Slavs. The Hanseatic League's aggressively protectionist trading practices often
aroused opposition from foreign merchants. The league typically used gifts and loans to foreign
political leaders to protect its commercial privileges, and when this proved inadequate, it
threatened to withdraw its trade and occasionally became involved in embargoes and
blockades. Though basically a mercantile rather than a political organization, the league tried to
ensure peace and order at home; warfare between member towns, civic strife within towns, and
robbery on the roads were all suppressed as far as possible. The league had no constitution
and no permanent army,
navy, or governing body
except
for
assemblies
periodic
(diets).
The
Hanseatic League declined
partly because it lacked
any centralized power with
which to withstand the new
and more powerful nationstates
borders.
forming
on
its
Emily Irigoyen
Tavernia
AP World History/4
Packet D
Manor/ Manoralism: Theme 4 (Economic)
A manor is a large, self-sufficient landholding consisting of the lord’s residence
“the manor house”, out-buildings, peasant villages, and surrounding land. To
describe in simpler terms, it is self-sufficient farming estates that became the
primary centers of agricultural production. Serfs worked the estates. Manorialism
describes the economic and political ties between landlords and peasants.
Economic:HanseaticLeague
The Hanseatic League was a group of merchant guilds and their market towns. German
cities achieved domination of trade in the Baltic with striking speed during the 13th
century, and Lübeck became a central node in the seaborne trade that linked the areas
around the North and Baltic Seas. The Hanseatic League was thus centered around this
city. It dominated trade along the coast of Northern Europe and stretched from the Baltic
to the North Sea and inland during the Late Middle Ages. It was created to protect the
guilds' economic interests and diplomatic privileges in both their home cities and cities
they visited. The Hanseatic cities was autonomous to a degree as they had their own legal
system and had their own armies. Despite this, the organization was not a state, nor can it
be called a confederation of city-states.
Angela Lin
Mr. Tavernia
AP World History P.4
Packet D
Creation, Expansion, & Interaction of Economic Systems: Hanseatic League
The Hanseatic League was an organization founded by north German towns and
merchant communities to protect mutual trade interests. From the 13th to the 15th century, the
league dominated commercial activity in northern Europe. The league originated in groupings of
traders and trading towns in the east, where German merchants won a monopoly of the Baltic
trade, and the west, where Rhineland merchants were active.
From the mid-13th century, north German towns’ cooperation became more regularized.
They had all agreed to the “law of Lubeck” by 1265. By the end of the 13th century, all north
German trading associations and towns and their foreign commerce bases were bound to a
league. The Hanseatic League controlled the main currents of northern trade. The main goals of
the Hanseatic League were to secure traffic in the wild conditions of northern and eastern
Europe, secure combined action against robbers and pirates, provision of safe navigation, obtain
assured bases for their trade abroad, and establishing a monopoly in branches of trade.
The Hanseatic League came to its final form in the 14th century. The league was not a
true political federation or a corporation. It had no permanent government, officials, or navy. It
also had no central court. It was governed by a diet, assemblies of delegates from various towns.
The Hanseatic League’s decline started in the 15th century. The Hanseatic League was
met with many conflicts such as the Baltic region undermining the league’s monopoly. The
members of the league began to not cooperate. Membership lessened; effective common action
became rare; and other developments sped the process of disintegration. The new patterns of
European trade evolved. The last diet occurred in 1669.
Olivia Lloyd
Mr. Tavernia
AP World History/Period 4
Packet D
Economic: Calicut
Calicut, also known as Kozhikode, is located in the state of Kerala, in southern
India. Calicut is the the third largest city in Kerala. It is called “The City of Spices”
because of its prominence in the spice trade during the medieval period. It was mentioned
by Ibn Battuta in his accounts of his travels. An important event in Calicut’s history was
the arrival of the Portuguese. Portuguese traveler Vasco da Gama discovered “The Route
to India.” But Calicut rose to importance while it was part of the Chera empire. During
this time, it flourished as a trading city, and allowed for ways for Kerala to form trade
connections with other parts of the world. However, relations between Calicut and
Portugal were strained, resulting in several deaths and massacres. So Kerala formed an
alliance with the Dutch to kick out the Portuguese; however they were taken over by the
Madras Presidency after the Mysore invasions, Calicut becoming the capital, and they
were also colonized by the British. Calicut witnessed the Indian struggle to be free of the
British, and after that was accomplished, in 1956, Kerala became its own state.
Commercial Revolution
The commercial revolution was a period of European economic, colonial, and
mercantile expansion. Mercantilism is a system in which a mother country exploits her
colony for resources and money. The system works so that the mother country can buy
goods from the colony at low prices, and sell them back to the colony at high prices.
The commercial revolution began in the 13th century and continued all the way to the
18th century when it was replaced by the industrial revolution. The commercial
revolution is marked by a general increase in regional and interregional trade. After
the end of the crusades, there was an increase in desire for luxury goods such as silks,
spices, and porcelain. This created an increased desire to establish trade routes both
within Europe and outside of Europe, going to other regions which could provide the
desired goods. During the commercial revolution there was an increase in the use of
financial services such as banking, insurance, and investing. Banks began to become
more important as paper money began to be used. Banks were also where you could
cash checks for their monetary value. The main expansion of the economy during the
commercial revolution was due to interregional trade. European countries such as
Portugal made voyages around the tip of Africa in order to reach the western coast of
Africa and Asia. This led to the expansion of maritime trade and Indian Ocean Trade.
The Silk Road trade route was heavily utilized during this period as a way to obtain
luxury goods from places such as China. Goods such as porcelain, silk, and paper were
made in China specifically to be sold to Europe. The goods made in China were not
meant to be perfect, but rather were meant to just be good enough to be bought in
Europe. The commercial revolution focused a lot on mercantilism and exploiting
colonies for goods and natural resources, so that there would be an extra source of
income for a country or empire. These extra sources of income caused empires and
countries to become richer and to be able to afford more great building projects.
Overall, the commercial revolution brought wealth and luxury goods to Europe and
provided extra sources of income to countries through mercantilism. Also financial
institutions such as banks began to be used very frequently.
Samantha Ross
Mr. Tavernia
AP World History P.4
Packet: D
Economic: Tax Farming
In many countries, ineffective tax administration was a chronic problem that
existed widespread. Tax farming became the solution to this issue. It was the method of
giving the responsibility of tax revenue collection to private groups or citizens. This
principle was seen in Egypt, Great Britain, Greece, and Rome. It was considered to be
extremely effective and successful. However, it did suffer from a tendency of the
tax-farmers to abuse the taxpayer. The system was successful when it involved checks
and balances for both the taxpayer and the tax-farmer. It was used in the Ottoman
Empire beginning in the sixteenth or seventeenth century but was abolished in the
1920’s. It was also used in Iran in the tenth century and India in the thirteenth or
fourteenth.
Kaitlyn Seese
Mr. Tavernia
AP World History P.4
Packet: D
Manor/Manorialism
A manor is defined as a large, self-sufficient landholding consisting of the lord’s
residence, known as the manor house, out-buildings, peasant villages, and surrounding land.
Basically, a manor is a self-sufficient farming estates. Manor became the primary centers of
agricultural production in Medieval society. Serfs, defined as agricultural laborers legally bound
to a lord’s property and obligated to perform set services for the lord, worked the land belonging
to the lord of the manor. Serfs are unlike slaves in that they can buy their way out (though that
was very unusual). However, they are like slaves because they could not leave the land, and they
could not work for anyone they wanted to. Manorialism describes the economic and political ties
between the landlords and peasants. In the feudal system, vassals delegated this land to the lords
to work so that the king would be paid and food would be produced for the kingdom.
Sydney Stewart
Mr Tavernia
AP World History/Period 4
Packet D
Economic: Guild
Guild are associations of artisans or merchants who control the practice of their craft in a
particular town. The earliest types of guild were formed as confraternities of tradesmen. They
were organized in a manner something between a professional association, trade union, a cartel,
and a secret society.
In medieval cities, craftsmen tended to form associations based on their trades, groups of textile
workers, masons, carpenters, carvers, and glass workers, each of whom controlled secrets of
traditionally imparted technology, or "arts" or "mysteries" of their crafts. Usually the founders
were free independent master craftsmen who hired apprentices
There were several types of guilds, including the two main categories of merchant guilds and
craft guilds but also the firth guild and religious guild.
Trade guilds arose in the 14th century as craftsmen united to protect their common interest.
Noah Teixeira
Mr.Tavernia
AP World History Period 4
Packet D
Economic: Flying Money
Flying money was a paper currency of the Tang dynasty in China and
can be considered the first banknote. Due to the inconvenience of
transferring large amounts of the standard copper cash coins over large
distances, the Tang government started to pay merchants with whom they
did business in paper money. Before long, printed money became more
common than minted coins for trading purposes. Due to their tendency to
fly away, the notes were dubbed "flying money.” Flying money was never
originally meant to be used as legal tender and, therefore, their circulation
was limited. However, since they could be exchanged for hard currency at
the capital, they were traded amongst merchants as if they were currency.
Kathryn Treacy
Mr. Tavernia
AP World History, Period 4
Packet D: Medieval Civilizations
Creation, Expansion, & Interaction of Economic
Systems: Entrepôt
A entrepôt is a port, city, or other center to which goods are brought for
import and export, and for collection and distribution. This is also where the break of
bulk is processed. An example of an entrepôt is in Denmark which contains a port
city that transfers goods from sea to land and land to sea. Denmark also has a break
of bulk where ships cannot go further and they have to unload at Copenhagen. The
idea of an entrepôt helps other countries and economic systems to expand and
interact with each other through this process.