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Medici Family
a powerful and wealthy banking family of 14th - 15th century Florence. Italian mathematician who introduced Europe to Hindu-Arabic numerals in 1202. a financial institution that accepts deposits of money and provides business, car and home loans, and investment products; also called a retail bank. a financial institution that specializes in providing advice on and acting as an intermediary in large and complex financial transactions for institutional clients. mergers and acquisitions; bringing separate companies together to form larger ones.
Fibonacci
commercial bank
investment bank
M&A
liquidity
the ability to quickly convert an asset to cash.
Rothschild Family
family of German-Jewish origin who formed a powerful international banking enterprise in 18th and 19th century Europe.
Lesson Objectives By the end of this lesson the student will be able to: 1. Tell how the Crusades and The Peasants Revolt of 1381 contributed to the growth of commerce. 2. Relate the origins of banking. 3. Explain how two famous banking families contributed to the expansion of commerce. PRODUCT PREVIEW 4. Create a plan to accumulate non-material wealth. 5. Summarize income and wealth inequality in the U.S. 6. Tell the key differences between a commercial bank and an investment bank. Gaining Attention Engage students in a discussion: In the last lesson you were asked to ponder and predict which function of money had the greatest impact on commerce. Is it because it is a medium of exchange that everyone agreed on which made life easier? Is it that money provides a standard unit of measurement, which makes buying and selling stuff more efficient? Is it the fact that money enables the accumulation of wealth? (Take an informal survey) The ability to accumulate wealth is a very enticing function of money. Everyone wants to be lifted into prosperity. Everyone dreams of a better life. These are universal human traits. The ability to accumulate wealth set the course of world history by inspiring people around the world to wake up, get moving, and seek their fortunes. Communicating Lesson Objectives At the conclusion of this lesson, you will be able to analyze how two historical events fueled the growth of commerce, explain the origins of banking, and tell about famous banking families who contributed to the expansion of commerce. You will create a personal plan for accumulating non-material wealth, and will be able to summarize income and wealth disparity in the U.S.
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Lesson 6 | Crusaders, Unpleasant Peasants & Mobsters
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