Stuart McDonald
Hanging Institute of Advanced Economics and Finance, Renmin University of China, 59 Zhongguancun Jie,
Haidian Beijing 100872
ph. +86 18500852437; em. [email protected]; url. http://works.bepress.com/stuart_mcdonald/
Current Employment
• Associate Professor and Xinao Chair Professor, Hanqing Institute of Advanced
Economics and Finance, The Renmin University of China
• Academic Director, Queens University/Hanqing Master of Financial Management
Program
2014-Present
2015-Present
Previous Employment
• Lecturer (Assistant Professor), School of Economics, The University of
Queensland
2005-2014
• Postdoctoral Research Fellow, Social and Information Systems Laboratory,
California Institute of Technology
2006-2009
• Research Officer, ARC Centre for Complex Systems, The University of
Queensland
2004
• Research Technician, School of Economics, The University of Queensland
2000-2003
Education
• Doctor of Philosophy (Mathematical Economics), The University of Queensland
2007
• Bachelor of Arts Hons 1 (Mathematical Statistics), The University of Queensland
1999
• Bachelor of Economics Hons 2a (Econometrics), The University of Queensland
1997
Grants
• UQ Collaborative Industry Engagement Fund, “The Design of a Market for
Tradable Emissions Permits for Water Pollution in Coastal Catchments” $69, 618
2012-2013
• Global Change Institute Small Grant, “Energy Policy, Environmental-Economic
Regulation and its Impact on Competition Policy in Australian Energy Markets”,
$74,739
2011-2012
• University of Queensland Early Career Research Grant: “Environmental
Economic Policy, Incentives for Green Innovation and its Impact on Competition
in the National Electricity Market” $9,000
2011
• Australian Research Council Center for Complex Systems Small Grant,
“Computational Game Theory”, $38,000
2005 - 2006
• University of Queensland: New Staff Start-Up Research Grant, $12,000
2005
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Stuart McDonald
Teaching Experience
• Undergraduate: Industrial Organization (UQ - Advanced), Public Economics (UQ - Advanced),
Regulatory Economics and Competition Policy (UQ -Advanced), Mathematical Economics (UQ Introductory)
• Graduate: Microeconomic Theory (RUC - PhD) , Game Theory (RUC - PhD), Industrial Organization
(UQ - Master of Economics), Regulatory Economics (UQ - Master of Economics), Economics of Financial
Markets (RUC - Master of Finance), Economics and Quantitative Methods (Queens University - Master of
Financial Management)
Research Supervision
PhD: Mark Bowden (2008, Lecturer, Swinburne), Soo Keong Yong (2013, Lecturer ), Mohamad Alghamdi
(2014, Assistant Prof, King Saud)
Coursework Masters: Tom Griffin III (2005), Gillian Salerno (2006, NUI), Vu Phuong Linh Pham (2006),
Kang Xu (2006), Arlind Shini (2009), Stephen Hogg (2010, Telstra Data Mining), Azhar Potia (2010, PhD
QUT), Jorge Perriera (2012, PhD UQ)
Honors: Luke Boosey (2006, PhD Caltech, Assist. Prof., Florida State), Nathan Viles (2011, Reserve Bank
of Australia), Kimberly Francis (2011, Reserve Bank of Australia), Gerard Kelly (2011, Reserve Bank of
Australia), Kian Nam Locke (2012, Queensland Competition Authority)
Publications
McDonald, S., Poyago-Theotoky J. (2016) Green Technology and Optimal Emissions Taxation. Journal of
Public Economic Theory, http://onlinelibrary.wiley.com/store/10.1111/jpet.12165/asset/jpet12165.pdf;
McDonald, S., Zhang, J. (2012) Inequality and Growth with Education Externalities and Missing Markets.
Macroeconomic Dynamics 16, Supplement S3, 331-354. (Macrodynamics.pdf)
Alghamdi, M., McDonald S., Pailthorpe, B. (2012) The Emergence of a Small World in a Network of
Research Joint Ventures. Proceedings of the 14th International Schumpeter Society Conference 2012, July
2nd - July 5th 2012 (http://www.aomevents.com/media/files/ISS 2012/ISS SESSION 5/Alghamdi.pdf).
(RJVSmallWorld8.docx)
Yong, S.K., Friesen, L., McDonald, S. (2012) An Experimental Analysis on the Impact of Time Consistent
Emissions Taxation on Green Innovation. Presented at the Australasian Experimental Economics Workshop,
September 2012. (CleanRDexp2011V7.pdf)
Alghamdi M., McDonald .S, Pailthorpe, B. (2012) R&D Networks with Endogenous Spillovers. Presented at
the World Game Theory Congress, Istanbul, Turkey, July 2012. (EndogSpill.pdf)
McDonald S., Poyago-Theotoky J. (2012) Optimal Environmental Taxation with Pre-commitment and Green
R&D. Proceedings of European Association of Environmental and Resource Economists 19th Annual
Conference, 27 - 30 June 2012, Prague. (JPET-13-001865.pdf)
Yong S.K., McDonald S. and Friesen L. (2012) Clean Technology R&D: The Impact of One-Way
Endogenous Spillovers and Technology Distance. Proceeding of the Econometrics Society Australasian
Meeting 2012, Melbourne, July 2012. (GreenRD.pdf)
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Stuart McDonald
Alghamdi M., McDonald S. and Pailthorpe B. (2012) The Impact of Connectivity, Proximity and Product
Differentiation in R&D Networks.
Presented at the Society for the Advance of Economic Theory
Conference, The University of Queensland, July 2012. (RD_network_UECE2.pdf
Dechert, W.D., McDonald S., O’Donnell S.I. (2011) The Thin Green Line: The Transboundary Pollution
Problem in a Coupled System of Lakes. Proceedings of the Econometrics Society Australasian Meeting 2011,
Adelaide University, July 2011. (Lakes.pdf)
Hogg S., Hurn S., McDonald S., Rambaldi A. (2011) A Spatial Econometric Analysis of Vertical Integration
of Retail Petrol Markets in Australia. Proceedings of the Econometrics Society Australasian Meeting 2011,
Adelaide University, July 2011. (PetrolSept4.pdf)
Wagner L., McDonald S. (2010) Finding Traitors in Secure Networks using Byzantine Agreements.
International Journal of Network Security 10(1), 11-17. (ijns-2010-v10-n1-p11-17.pdf)
McDonald, S. (2010) Incentives, Equity and Externalities in Large Asymmetric Information Economies.
Proceedings of the Society for the Advancement of Economic Theory Conference, National University of
Singapore, Singapore, August 2010. (WelfSY100714.pdf)
Dechert W.D., McDonald S. (2009) An Optimization Approach to Dynamic Games. Presented at the
Fifteenth International Conference on Computation in Economics and Finance, Sydney Australia, July 2009.
(Slides only CEF2009_E7_McDonald.pdf)
Zhang J., Davies J., Zeng J., McDonald S. (2008) Optimal Taxation in a Growth Model with Public
Consumption and Home Production. Journal of Public Economics 92(3-4), 885-896. (JPubEc.pdf)
Bowden M., McDonald S. (2008) The Impact of Interaction and Social Learning on Aggregate Expectations.
Computational Economics 31(3), 289-306. (CompEconomics.pdf)
Salerno G., Beard R., McDonald S. Modelling Rent Seeking Behavior in the Dynamic Lake Game.
Proceedings of the Thirteenth International Symposium on Dynamic Games and Applications, Warsaw,
Poland 30th June-3rd July, 2008. (Rent.pdf)
Beard R., McDonald S. (2006) Dynamic Re-Contracting of Water Rights along a River. In Jorgensen S.,
Quincampoix M., Vincent T.L. (Eds.) Advances in Dynamic Game Theory: Numerical Methods, Algorithms,
and Applications to Ecology and Economics (Annals of the International Society of Dynamic Games Vol. 9),
Springer, NY. pp. 394-410. (water agreements_AnnslsDG.pdf)
Beard R., McDonald S. (2006) Equitable derivatives for water trading. Proceedings of the Australian
Agriculture and Resource Economics Society Conference 2006, Manly, February 2006.
(intertemporal_water_trading.pdf)
Bowden M., McDonald S. (2006) Herd Behaviour as a Source of Volatility in Agent Expectations. In:
Costantino M and Brebbia C (Eds.) Computational Finance and its Applications 2. (WIT Transactions on
Modelling and Simulation). WIT Press, Imperial College, London, UK. pp. 129-140.
(Agent_Volatility_WIT_Chapter.pdf)
McDonald S. (2005) Infinite Time Horizon Stochastic Differential Utility. Presented at the 6th Queensland
Operations Research Conference 12th August 2005, Marriot Hotel, Brisbane, QLD Australia. (GSDU.pdf)
McDonald S., Wagner L. (2004) A Game Theoretic Formulation of the Byzantine General’s Problem.
Presented at the World Congress of Game Theory, Marseilles, France, 2004. (McDonald Wagner.pdf)
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Stuart McDonald
McDonald S., Beard R., Foster J. (2003) The Evolution of Preferences and Inter-Temporal Savings Behavior.
Proceedings of the 9th International Conference on Computation in Economics and Finance, Seattle, WA,
2003. (153.pdf)
McDonald, S. (2002) Risk, Uncertainty and Social Cohesion. Presented at the Australasian Econometrics
Society Australian Meetings, Brisbane QLD Australia, 2002. (RUS.pdf)
McDonald S., Beard R. (2002) Numerical Solutions by Method of Lines for Stochastic Partial Differential
Equations with Applications to Finance. Proceedings of the 8th Computational Economics and Finance
Conference, Aix-en-Provence, France, 2002. (TermStruc.pdf)
*Society for Computational Economics Best Conference Paper by a PhD student (Finance)
McDonald S., Beard R. (2001) Implementation in Conjectural Equilibrium. Presented at SUNY Game
Theory Workshop, Stony Brook NY, 2001. (consist1.pdf)
McDonald, S. (2001) Evolutionary Implementation. Presented at SUNY Game Theory Workshop, Stony
Brook NY, 2001. (evolimp3.pdf)
McDonald, S., Beard, R., Purcell, T. (2000) How about tomorrow? Procrastination as an optimal response to
conference deadlines. Economic Society of Australia 29th Annual Conference of Economists, Gold Coast
QLD Australia, 2000. (econ_dp_280_00.pdf)
McDonald, S. (2000) The Market for Internet Services as a Tiebout Economy: An Application of the Shapley
Value for the Pricing of Internet Service. In E. Kozan and R. Beard (Eds.) 3rd Operations Research
Conference of the ASOR – Qld Branch. (ISPG.pdf)
McDonald S. (2000) Computing the trembles of trembling hand perfection via simulated annealing.
International Symposium on Dynamic Games, Adelaide, SA, Australia, 2000. (GameAlga.pdf)
*International Society for Dynamic Games Prize for Best Conference Paper by a PhD Student.
Purcell T., Beard R., McDonald S. (1999) Walrasian and Marshallian Stability: An Application to the
Australian Pig Industry. Proceedings of the Australasian Agriculture and Resource Economics Association,
Auckland, New Zeland, 2000. (econ_dp_254_99.pdf)
McDonald S., McLachlan G. (1998) The EM Algorithm and Neural Networks. E. Kozan and R. Beard (Eds.)
2nd Operations Research Conference of the ASOR – Qld Branch. (EM_network.pdf)
Working Papers
Kalayci, K., Loke, K.N. and McDonald, S. (2014) An experimental study of competition in two-sided
markets. (KLM_TwoSided_March2014.psd)
Yong, S.K., Friesen L., McDonald, S. (2014) R&D Spillovers in Clean Technology, Cooperation and Tacit
Collusion. (AsymSpillovers2012V4.pdf)
Friesen, L., McDonald S., Viles, N. (2013) Market Structure and the Cost of Compliance with Environmental
Regulation. (Environmental_Compliance.pdf)
Media Interviews
Petrol Pricing and Bundled Discounts (2012): Sky TV (Switzer Report); Channel 7 Today Tonite; Channel
10 News; ABC News Radio; The Australian (National Broadsheet); The Courier Mail (Queensland
Metropolitan); Quest Newspapers (Queensland Regional)
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Stuart McDonald
Consulting Activities
Water Pollution Markets (2012): Healthy Waterways; SEQ Water; Department of Primary Industries,
Queensland Government
Academic Refereeing
Environmental and Resource Economics; Resource and Energy Economics; International Economic Review;
Environmental Economics and Policy; North American Journal of Economics and Finance; Asia-Pacific
Journal of Operations Research; Australian Economic Papers; Review of Economic Design; Economics
Letters; ASOR Bulletin; Information Economics and Policy; Journal of Development Economics; Canadian
Journal of Economics; Journal of Macroeconomics; Economic Record, Economic Modelling; Journal of
Politics; Economic Analysis and Policy
Administrative and Professional Service
Renmin University of China: Junior Hiring Committee, 2014-Present; Academic Director, Queens
University Hanqing Institute Master of Financial Management Program, 2015-Present
University of Queensland: Organising Committee, Australian Economic Theory Workshop, February 2013;
Organising Committee, Society for the Advancement of Economic Theory Conference, July 2012; School of
Economics Equipment Committee Member, 2010-2012; Job Market Liaison Committee Member,
2010-2011; Organising Committee, Australasian Econometric Society Meeting 2007, July 6-8, 2007;
Representative to the Engineering, Physical Sciences and Architecture Faculty Committee, 2005 – 2006
California Institute of Technology: Organiser, Invited Workshop on Microeconomic Dynamics and
Dynamic Games, March 2008; Organiser, SISL/Yahoo! Economic Theory Workshop, Huntington Beach,
November 9-11, 2007
Professional: Economics Society of Australia: Refereeing for the Scientific Committee, Australian
Conference of Economists, July 2012; Australian Society of Operations Research: Queensland Branch
Committee, 2000-Present
References
Professor Uwe Dulleck, School of Economics and Finance, Queensland University of Technology, QLD
4000, Australia. +61 7 3138 9103; [email protected]
Professor Joanna Poyago-Theotoky, School of Business, Latrobe University, Melbourne VIC 4072,
Australia; +61 3 9479 1409; [email protected]
Professor Tao Ran, Associate Dean, Hanqing Institute of Economics and Finance, Renmin University of
China 100872; [email protected]
Professor Jie Zhang, Department of Economics, National University of Singapore, Singapore 117570; +65
6516 6024; [email protected]
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