Microarchitecture refers to the design and organization of a computer's internal components, such as the CPU, memory, and input/output systems. It focuses on how these components are interconnected and how they work together to execute instructions and process data efficiently. Microarchitecture plays a crucial role in determining a computer's performance, power consumption, and overall capabilities. By optimizing the microarchitecture, computer designers can enhance the speed, efficiency, and reliability of a system.