During 1960-2024, microeconomics increasingly foregrounded information frictions, behavioral insights, and signaling as core determinants of market outcomes. Researchers combined formal modeling with empirical and experimental methods to study how asymmetric information, education, and cognitive biases shape wages, choices, and welfare, while microfoundations linked individual decision processes to broader economic dynamics. A unifying thread was the shift from purely rational-actor assumptions toward models that accommodate information constraints, learning, and strategic interaction.