Yes, microeconomics is considered a social science. It focuses on the behavior of individuals and firms in making decisions regarding the allocation of resources. Microeconomics examines how these decisions influence supply and demand, pricing, and the consumption of goods and services.
The study of microeconomics is important because it helps us understand how individual actions can impact the economy as a whole. By analyzing choices made by households and businesses, microeconomics provides insights into market dynamics and the reasons behind the fluctuations in economic activity.
As a social science, microeconomics integrates concepts from psychology and sociology, exploring how societal factors and human behavior drive economic decisions. This connection to human behavior is what distinctly categorizes microeconomics alongside other social sciences like sociology and psychology. Thus, microeconomics plays a crucial role in understanding both individual behaviors and larger economic trends.