Installing Microsoft Arc mouse on Mac OS is quite easy. Just follow these steps and you will able to install Microsoft Arc mouse on your Mac.
When you plug in the USB receiver of Microsoft Arc mouse, Mac OS detects it automatically within a fraction of second. That means, Microsoft Arc Mouse works out of the box without installing any driver for it. But, in order to get all the features, it is suggested to install the driver.
Go to this driver download page of Microsoft. Here is the screenshot of the page:
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Choose the correct options from the drop down menus like the above screenshot and click on Go button:

The required driver will be downloaded as shown on the above screenshot. After download is complete, Mac will prompt you to take next action. Accept the security prompt and software policy etc. and enter your password to install:

You need to configure your Microsoft Arc mouse from Application folder. It will show as Others with an pointer icon, double click it to get the settings window:

You can configure Arc mouse setting for individual application too.
