Microeconomics

Microeconomics studies the behavior of individual economic agents such as consumers, producers, households, firms, and the government.
Microeconomic studies the choices they make in response to change in a dynamic world.
Microeconomics looks at the way consumers and producers come together in individual markets.

At the consumer level, microeconomics examines the way in which people make choices about which goods and services to buy in order to improve their well being, given their budget constraints.
When looking at producer behavior, microeconomics examines how firms make decisions such as what goods and services to produce and how to improve efficiency given their limited resources.
Microeconomics also considers individual industries to see how producers interact and compete with each other and how government intervention may effect the economy.

Example

Microeconomics includes the study of the supply and demand for a certain product, resource management, economic decisions made by members of an economy, the effects of income, taxation, price changes, etc.