What is the use of microeconomics in practical life?

Answer 1

There is absolutely no real practical use of it (at least in its form of a college course). Bunch of complicated equations to prove really very simple things you probably know by using common sense. In my opinion its use is to make econonomics seem like a real science, because it would all be too simple if it was all just explained with words and graphs.

Microeconomics, in some other form could probably be useful as a guidance in decision making in business, its methods could be used to determine optimal solutions in certain situations, and to point out how to do some things more efficiently. However, that is the side of microeconomics I am yet to see, as I still have a couple of year until I graduate.