The thesis first reviews the mathematics behind the Google’s PageRank, which is the state-of-the-art webpage ranking algorithm. The main focus of the thesis is on exploring a lazy PageRank and variants, related to a random walk, and by realizing that, they can be computed using the very same algorithm, find lazy PageRank and variants' expressions for some common graph structures, for example, a line-graph, a complete-graph, a complete-bipartite graph including a star graph, and try to get some understanding of the behavior of the PageRank, when a network evolves, for example either by a contraction or an expansion of graphs’ nodes or links.