What is the differences and similarities between microeconomics and industrial economics?

Microeconomics focuses on the behavior of individual agents, such as consumers and firms, and how their interactions determine market outcomes, prices, and resource allocation. Industrial economics, a subset of microeconomics, specifically examines the structure, behavior, and performance of industries and firms within those industries, often analyzing market power and competition. Both fields share a foundation in economic theory and use similar analytical tools, but while microeconomics has a broader scope, industrial economics hones in on industry-specific factors and market dynamics.