Description Chapter 1: Long Ago, This Is What Economic Activity Looked Like - People began farming to grow their own food – The Beginning of Planned Economic Activity (012) - People traded what they made in excess of what they needed – Surplus Production and Barter (014) - Some barter trades happened without a single word – Silent Trade (016) - Everyone began gathering in one place to trade goods – The Marketplace (018) - Assigning value to goods made trading easier – Currency (020) - Wealthier citizens began taking part in politics – Economics as the Foundation of Politics and Culture (022) - Roads were built, allowing the empire to expand and prosper – Rome, the First Great Empire (024) - Trade routes had to connect for economies and cultures to exchange – The Silk Road (026) - Chinese culture and technology spread to other nations – China's Tributary Trade (028) - Arab merchants emerged as sea routes opened up – Arab Merchants (030) - A major influence on exchange between East and West – The Islamic Empire (032) - Lords made contracts with knights and ruled over serfs – The Manorial System of Medieval Europe (034) - Lending money and charging high interest – Usury (036) - It all began with exchanging currencies – The Birth of Banks (038) Chapter 2: This Is How The World Economy Developed - Cities grew wherever markets appeared – Medieval Towns and Markets (042) - There was a time when merchants held more power than kings – The Hanseatic League (044) - The discovery of the New World was a major turning point for the global economy – Opening New Trade Routes (046) - Created to raise funds for voyages to Asia – Stocks and Joint-Stock Companies (048) - Tulips once brought the Dutch economy to ruin – Speculation (050) - Valuing commerce and boosting exports to earn wealth – Mercantilism (052) - Leave everything to the invisible hand? – Laissez-Faire (054) - There was a time when any bank could print its own money – The Central Bank (056) - Industry advanced dramatically with the invention of the steam engine – The Industrial Revolution (058) - A movement arose to destroy machines – The Luddite Movement (060) - Economics can transform politics and society – Economics and Civil Revolutions (062) - Behind the abolition of slavery lay deep economic issues – The American Civil War (064) - Booms and busts take turns appearing – Business Cycles (066) - Some people spend all day just tightening screws – Division of Labor and Mass Production (068) - Working for the rights and interests of laborers – Labor Unions (070) - Powerful nations fought each other over colonies – World War I (072) - Printing too much money causes prices to skyrocket – Inflation (074) - Nations tried to revive their economies through war, but failed – World War II (076) - Socialism spread around the world – Socialism (078) - An economic crisis that began in the U.S. spread worldwide – The Great Depression (080) - Without competitors, a company can set prices however it likes – Monopolies (082) - Governments began stepping into economic affairs – The New Deal (084) - Nations planned out every aspect of economic activity – Planned Economy (086) - Prices keep rising even as the economy worsens – Stagflation (088) - Trading instead of fighting to get what nations need – The World Trade Organization (090) - Monitoring exchange rates and lending to struggling nations – The International Monetary Fund (092) - Giant companies began operating beyond national borders – Multinational Corporations (094) Chapter 3: This Is How Korea's Economy Developed - People had personal property and valued labor – The Economy of Gojoseon (098) - Advances in technology led to major agricultural growth – Agriculture in the Three Kingdoms Period (100) - Trade flourished across the seas – Trade in Unified Silla (102) - Skilled artisans existed but were not properly valued – Handicrafts in the Goryeo Dynasty (104) - The name "Korea" comes from the thriving trade of the Goryeo era – Trade in the Goryeo Dynasty (106) - The transplanting farming method spread widely – Agriculture in the Joseon Dynasty (108) - Not just anyone could do business in Hanyang – Commerce in the Joseon Dynasty (110) - Trade was forced open under pressure from foreign powers – Market Opening in Late Joseon (112) - Land, grain, and industry were all taken away – Land Surveys and Colonial Exploitation (114) - War reduced everything to ashes – The Economy Shattered by War (116) - Korea achieved the Miracle on the Han River – The Economy of the 1970s (118) - Korea once faced a severe economic crisis – The IMF Bailout (120) Chapter 4: What Every Elementary Student Should Know...