How do the concepts of credit and interest, as incorporated into banking and money lending, help to stimulate economic growth? Give one example of how you think it may have stimulated growth in medieval times and one example of how it works today.

Video Assignment 3 (2093)

Instructions

As the world continues to struggle to find its footing amid rising unemployment, constricted credit, and crumbling banks and industries — raising questions about how the economic system collapsed — PBS presents Niall Ferguson’s ASCENT OF MONEY. This ground-breaking four-part series examines the creation of the economic system by taking viewers on a global trek through the history of money. Watch Part 3 of the video and answer the following question:

How do the concepts of credit and interest, as incorporated into banking and money lending, help to stimulate economic growth? Give one example of how you think it may have stimulated growth in medieval times and one example of how it works today.

Video source:

Ferguson, N. (2009). The ascent of money [Video file]. Retrieved from https://www.youtube.com/watch?v=KdENsIkBpiY

Evaluation:

Each Video Assignment will be marked out of 100. The overall value of all posts is 18% of the final course grade (3 Video Assignments x 6% points). The following rubric indicates the criteria students are to adhere to, and their relative weights to each post.

Activity/Competencies Demonstrated % of Final Grade

Shows an understanding of the underlying concept that was described in the video./50

Provides an answer to the specific question asked in the assignment/40

Provides examples to reinforce their answer/10

Total/100

 

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