Economy,
the Ming Dynasty,
and the Russians
What is Economy?
 The production, distribution or trade, and consumption of limited
goods and services by individuals, businesses, organizations or
governments.
 Two parties must agree to the value/price of the good or service.
What do economies look like?
 Subsistence
 Feudalism
 Class System
 Mercantilism
 Capitalism
 Laissez-faire
 Neoclassical/Keynesian
 Welfare capitalism
 Socialism
 Communism
 Mixed Economy
What is the Ming Dynasty?
• Yuan Dynasty (Mongols)
• Government
• Scholar-officials
• Eunuchs
• Confucianism
Important Figures and Events
 Hongwu Emperor, 1368-1398
 Yongle Emperor, 1402-1424
 Tumu Crisis and the Mongols
Decline of the Ming Dynasty
• War
• Political Strife
• Natural Disasters
• Epidemic
• Revolts
• Invasion from Manchuria
Ming Economy
 Agricultural Policies
 Trade and Investment
 Government Revenue
 Tributaries
 Treasure Voyages, 1405-1433
Who are the Russians?
• Russia, Muscovy,
or the Grand Principality of
Moscow
• Origination
Important Figures and Events
 Ivan III (The Great), 1462-1505
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Novgorod Republic
Brothers
Marriage to Sophia Paleologue
Mongols
Lithuania
 Ivan IV (The Terrible), 1547-1584
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Crowned Tsar at 16
Peaceful Beginning
Oprichnina
Sack of Novgorod
Conquering
Decline of the Russians
• Political Unrest
• World War I
• Revolution
Economy Under Ivan III
 Agriculture
 Serfdom
 Innovation
 Crafts
 Infrastructure
 Trade