Economic History

1. Medieval and Early Modern Economies
   1. Feudalism
      1. Characteristics and Structure
         1. Hierarchical system of lords, vassals, and serfs
         2. Land as the primary source of wealth and power
         3. Obligations of homage and fealty
         4. Feudal justice and dispute resolution
      2. Role of Agriculture and Serfdom
         1. Manorial system as the basis of economic production
         2. Crop rotation and common land use
         3. Labor obligations and corvée work
         4. Transition of serfs to tenant farmers
         5. Impact of the Black Death on serfdom
   2. Trade and Commerce
      1. Emergence of Trade Guilds
         1. Organization of craftsmen and merchants
         2. Regulation of trade standards and prices
         3. Protection of members’ interests and monopoly rights
         4. Role in urban governance and politics
      2. Hanseatic League
         1. Network of trade cities in Northern Europe
         2. Trade in goods like timber, fish, and grain
         3. Mutual protection against piracy and other threats
         4. Influence on regional political and economic policies
      3. Trade Routes and Networks
         1. Mediterranean and Baltic trade routes
         2. Overland routes like the Silk Route
         3. Innovations in shipping and navigation
   3. The Commercial Revolution
      1. Exploration and Colonialism
         1. Discovery of new sea routes and continents
         2. Establishment of European colonies and trade posts
         3. Exchange of goods, ideas, and diseases (Columbian Exchange)
         4. Exploitation of natural resources and indigenous populations
      2. Rise of Mercantilism
         1. Concept of accumulating wealth through trade surplus
         2. State control over economic activities
         3. Navigation Acts and protectionism
         4. Role of colonies in European economies
      3. Joint-stock Companies
         1. Innovation in business organization and capital raising
         2. Notable examples: the British East India Company, Dutch East India Company
         3. Shareholder roles, dividends, and risk distribution
         4. Impact on exploration, colonization, and global trade
   4. Financial Developments
      1. Banking Systems and Credit Instruments
         1. Formation of early banks and banking families (e.g., Medici, Fugger)
         2. Development of bills of exchange, promissory notes
         3. Role of moneylenders and financiers in state economies
         4. Impact on trade expansion and economic growth
      2. Early Stock Exchanges
         1. Establishment of Bourse in Bruges, Amsterdam Stock Exchange
         2. Techniques of early trading and speculation
         3. Influence on international trade and investment practices
         4. Regulatory evolution and market stability efforts