IB Grade 8 Individuals and Societies | Unit 6: Economy, Trade, and Technology Through Time by Prakhar Chauhan | Learn Smarter
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Unit 6: Economy, Trade, and Technology Through Time

Economic history illustrates the evolution of systems governing production, exchange, and consumption influenced by human ingenuity, technology, and trade. From the barter economy transitioning to coinage and banking, to the agricultural and industrial revolutions, these changes have shaped global interactions and impacted wealth distribution. The chapter further explores globalization, technology's influence on economy, and traces patterns of economic inequality through statistical references.

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Sections

  • 1

    Barter To Currency: Foundations Of Exchange

    This section explores the evolution of economic exchange systems from barter to currency, highlighting key innovations and structures that facilitated trade.

  • 1.1

    Barter Dynamics And Market Emergence

    This section discusses the evolution from barter systems to more sophisticated forms of currency and trade, highlighting key advancements and their impacts on economic systems.

  • 1.2

    Silk Road: Institutional And Logistical Innovations

    This section examines the Silk Road and the institutional structures and logistical innovations that facilitated trade across this complex network of routes.

  • 1.3

    Trans‐saharan Exchanges: Social And Religious Dimensions

    The Trans-Saharan trade facilitated significant economic integration between West African empires and North African states, fostering social and religious transformations through the spread of Islam and cultural exchanges.

  • 1.4

    Coinage Evolution And Monetary Systems

    This section explores the evolution of coinage and its impact on economic transactions and monetary systems throughout history.

  • 1.5

    Proto‐banking And Credit Mechanisms

    Proto-banking innovations in medieval Italy significantly transformed commerce, paving the way for modern financial systems.

  • 2

    Industrial Precursors: Agricultural And Proto‐industrial Revolutions

    This section explores the significant advancements in agriculture and proto-industrial systems that set the stage for future economic transformations.

  • 2.1

    Agricultural Breakthroughs And Demographic Effects

    This section discusses the medieval agricultural revolution in Europe and its significant impact on demographic changes, increasing caloric yields and supporting urbanization.

  • 2.2

    Proto‐industry: Textile And Metalwork

    This section discusses the emergence of proto-industrial practices within textile and metalwork production, highlighting the economic impact on urban households and the influence of technological advancements.

  • 2.3

    Early Mechanization: Economic Multiplier Effects

    Early mechanization, particularly through fulling mills and the development of metal industries, significantly enhanced productivity and economic expansion during the proto-industrial revolution.

  • 3

    Global Trade Networks: Mercantilism And Multinational Enterprises

    This section explores the evolution of global trade networks under mercantilism, highlighting the rise of multinational enterprises and their impact on economic systems.

  • 3.1

    Mercantilist Doctrine And Colonial Policy

    The section examines how mercantilist doctrine shaped European colonial policies, emphasizing state control over trade to maintain a favorable balance of trade and colonial interests.

  • 3.2

    Chartered Companies: Organizational Innovations

    This section discusses the evolution and impact of chartered companies, highlighting their role in spreading financial innovation and corporate governance.

  • 3.3

    Port City Case Studies

    This section examines economic growth and trade dynamics in key port cities like Lisbon and Malacca during historical periods.

  • 3.4

    Atlantic Triangular Trade: Quantitative Analysis

    This section analyzes the quantitative aspects of the Atlantic Triangular Trade, outlining the specific exports, imports, and trade dynamics between Europe, Africa, and the Americas during the trade period.

  • 4

    Impact Of Technology: Information And Energy Revolutions

    This section explores the transformative effects of technological innovations, particularly in the areas of information and energy, on economic systems and processes.

  • 4.1

    Printing And Knowledge Economies

    The section explores the impact of the printing press on the dissemination of knowledge, enhancing collaborative scientific efforts and standardizing legal frameworks.

  • 4.2

    Maritime Science: Navigational Precision

    This section examines the advancements in maritime navigation, particularly the efforts to solve the longitude problem and the accumulation of oceanic data.

  • 4.3

    Steam Engine And Industrial Revolution

    The section discusses the transformative impact of the steam engine on industrial productivity and energy consumption during the Industrial Revolution.

  • 5

    Economic Inequalities: Measuring And Understanding Disparities

    This section addresses the measurement of economic inequalities through various metrics, showcasing the disparities in income both across nations and within them.

  • 5.1

    Cross‐national Income Gaps

    This section analyzes the disparities in per-capita GDP across nations, highlighting the growing economic divide known as the 'Great Divergence'.

  • 5.2

    Within‐country Stratification

    This section explores the income disparities and stratification within countries, highlighting the concepts of Gini coefficients and labor conditions during early industrialization.

  • 5.3

    Environmental And Social Externalities

    This section discusses the environmental and social externalities resulting from economic activities, including historical impacts of industrialization and resource management.

Class Notes

Memorization

What we have learnt

  • Trade networks and technolo...
  • Historical economic transfo...
  • Understanding economic ineq...

Final Test

Revision Tests