What effect does microeconomics have on an individual?

The academic
discipline of microeconomics does not have much of an impact on most peoples daily lives. 
However, microeconomic forces have a tremendous impact on everyones daily life.

We can start with the fact that most peoples wages are set by microeconomic forces. 
Wages are typically set by the supply and demand for people who do a particular job in a
particular place.  If you do a job where there is a great deal of demand, you are likely to make
more money than if you do a job that is not in particularly high demand.

The
other broad category of impact is the impact on prices.  The price of almost everything that we
buy every day is set by microeconomic factors.  It is largely supply and demand that determines
the price of everything from the rent or mortgage payments that we make to the price of the
ingredients that we buy to make our food.

In other words, microeconomic
forces determine how much money we will make and they determine how much it will cost to buy the
things we need.  This means that such forces have a tremendous effect on
us.