The third edition of Turner College economist Frank Mixon's textbook, Economics and Finance for Leaders, recently published. This edition replaces the previous one, which published in 2022. In speaking with Turner Business, Mixon explained that the new edition contains additional material across several of its chapters, including new discussion in Chapter 2 ("Comparative Advantage and International Trade") of specialization across running backs in the NFL and how that relates to the concept of comparative advantage and financial returns to labor effort. Additions were also made in Chapter 4 ("Economic Surplus and Market Efficiency") to the textbook's discussion of how, through two-part pricing, retailers might capture consumers' surplus. In Chapter 7 ("Games and Economic Behavior") the new edition of the textbook includes discussions about Thomas Schelling's famous focal points experiment and why Auburn University does not have sorority houses. Two of several other revisions to the book include the Chapter 8 ("Law, Economics and Organization") discussion of how both sides of the Third Servile War (Spartacus' slave army vs. Crassus' Roman legions) involved privately funded militaries and the Chapter 9 ("Public Choice") discussion about the probability of casting the decisive vote in a U.S. presidential election (which is around 1 in 60 million). The former of these two additions makes use of Mixon's recently published book (with Laura Ahlstrom) titled War Movies in Economics. Lastly, Mixon explained to Turner Business that work on textbooks seem to never end, as he is already planning updates to the text in preparation for the fourth edition.
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