Then again on Oblivion you can kill 1 bandit and get thousands of coins worth. In menieval you would have to work for your money.
No idea when games such as oblivion are supposed to be set. If any time.
It's hard to say. It seems Bethesda (like many RPG-makers) have borrowed elements which range from the Middle Ages to the Renaissance.
http://inventors.about.com/od/timelines/a/MiddleAges.htm
The gun was invented in the 13th century, for instance, according to that page. Some RPGs I've played have guns, and some don't. TES doesn't, and I hope it never will...I'd much prefer crossbows in the next game.
If we look at some of the clothes people wear, however (especially noble-types) Bethesda has borrowed some designs which look more as if they're from the 16th or 17th century. Ayleid Ruins are unique to Tamriel, but the forts in Oblivion look as though they were made during one Age, which is why they're all so similar in design. I'm not about to speculate what age this would correspond to on Earth, though. Don't know enough about architecture from those times.
Anyways, I realize Tamriel is on another planet, so all the rules could be different from Earth.
Dang that went way off-topic...:facepalm: