Universitas is a Latin word which refereed to a corporation or guild of students or teachers. The univseritas evolved into our modern notion of the University. Universities developed in the middle ages, and several were established by the eleventh and twelve centuries.

Scholasticism is the philosophical and theological system used in medieval schools. Scholasticism developed in the eleventh and twelfth centuries along with the university. One of the primary tenants of scholasticism was an attempt to reconcile faith and reason.

A burgher is a member of the middle class in a European city, especially during the high middle ages, . The burgher class was principally composed of merchants and trades people.

Craft guilds played a key role in the production of material goods in the middle ages, . Craft guilds established standards for production of goods and labor practices. Craft guilds also established fixed prices for the sale of goods. The guild process involved a training hierarchy where a person would start …

Charters of liberties were legal documents which illustrated the relative freedoms of individuals. The Magna Carta is known as one of the greatest feudal charters of liberties.

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The trading fairs of Champagne were the largest marketplaces in western Europe. Champagne hosted fairs annually as part of a French program to increase trade. Merchants were promised protection from harm and reduced taxes, while the state enjoyed increased commercial activity.