ACR MLG MADE GO AORUND DUE LOW LEVEL WIND SHEAR. TWR ANNOUNCED THEY HAD A MICROBURST ALERT IN EFFECT WITH REPORTED 50 KNOT LOSS OF AIRSPEED ON FINAL.

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WE WERE HEAVY AND THE ATIS WAS INDICATING A SLIGHT TAILWIND AND WINDSHEAR. THE CAPT AND I DISCUSSED THE APCH AND WE DECIDED IF ANYTHING TO STAY A LITTLE HIGH AND KEEP OUR SPD 15 TO 20 KTS ABOVE REF. I WAS FLYING AND CONFIGURED EARLY; BUT IT WAS NOT ENOUGH AS WE WERE A LITTLE HIGHER OVER ALTUR (FINAL APCH FIX) THAN I WOULD HAVE LIKED. I USED ADDITIONAL FLAPS FOR A SHORT TIME AND AS WE APCHED G/S ( 1 DOT HIGH) I WENT BACK TO LNDG FLAPS AND CAME IN WITH THE PWR. WE COULD SEE A LOCALIZED CLOUD OVER THE 26 RWYS WITH VIRGA. AT SOME POINT ON OUR FLT PATH BELOW 1000' AGL THE TWR ANNOUNCED THAT IT WAS RAINING AT THE FIELD AND THEN THERE WERE INDICATIONS OF A 50 KT AIRSPD LOSS ON FINAL AND A MICROBURST ALERT. ANOTHER ACFT SAID THEY WERE GOING MISSED APCH AND WE GOT THE 'WOOP WOOP; PULL UP' RECORDED WARNING INDICATING A 1500 FPM RATE OF DSCNT. I PULLED UP THE NOSE SLIGHTLY AND INCREASED PWR ABOVE THAT NORMALLY REQUIRED THE PROFILE. THE 'WOOP WOOP' CEASED BUT THE AIRSPD BEGAN TO DECREASE. THE CAPT SAID; 'FIRE WALL THEM; LET'S GET OUT OF HERE.' I DID AND THE ACFT RESPONDED IMMEDIATELY WITH NO FURTHER LOSS OF ALT OR AIRSPEED.