Micro things are so small you can't see them, or reduced to a very small scale. When you study a subject like economics on a micro level, you look at individual markets instead of the whole economy.
Most topics can be discussed or studied on a micro level — up close, looking at separate examples — or a macro level, stepping back to view the larger, wider picture. A change in climate is hard to see on the micro level (your state may have had a particularly cold winter), but easier on a macro level (the average temperature may still have increased over the last 100 years). Micro comes from the Greek mikros, "small."