Prof. Gaoquan Liu
Queens College, CUNY
Business Economics
Bus247, Spring 2013
Solution to Homework 1
1. (Basic Game Theory)
Time magazine and Newsweek are considering which cover story to publish next week. Both of
them have two alternatives to choose fro
BUS 247 Lecture Notes
Fall 2010
Prof. Gaoquan Liu
Queens College
Chapter Seven: Vertical Relations
In this chapter, we try to understand the vertical relations between manufacturer, retailer,
and consumers, especially the strategic interaction and relatio
BUS 247 Lecture Notes
Fall 2010
Prof. Gaoquan Liu
Queens College
Chapter Five&Six: Dynamic Market Competition
Key Requirements for Chapter Five:
1. Understand basic game theory techniques used in dynamic games.
2. Understand and learn how to numerically s
Prof. Gaoquan Liu
Queens College, CUNY
Business Economics
BUS-247
Homework 3&4
1. (Repeated Bertrand Game)
Two firms are playing an infinitely repeated Bertrand game, each with the same marginal
cost 20. The market demand function is given by P=150-Q. The
Queens College
Business 247-65147
Fall 2015
Prof. Gaoquan Liu
Business Economics
Course Syllabus
Gaoquan Liu
email: [email protected]
Lectures: Monday and Wednesday 6:30pm-7:45pm, Kiely Hall-270
Office Hours: By Appointment
Course Description: This course
IS/LM/BP In an Open Economy
Fiscal/ Monetary Policy (Perfect capital mobility: Fixed and Flexible exchange rates)
V. Macro Policy in an Open Economy with Flexible Exchange rates.
Fixed Exchange rates
Prof. Gaoquan Liu
Queens College, CUNY
Business Economics
Summer 2013, BUS247
Homework 2
1. (Price Discrimination)
A. Indicate the types of price discrimination for the cases below. Based on the above
examples, explain the difference between these types o