This phrase is used in casual, informal conversations rather than in formal situations. I think I'll give tonight's lecture a miss and just relax at home.
Pro Tip 2/3
Personal Choice
Implies a personal decision to skip an event, usually without affecting others. After working late, Joe decided to give the gym a miss.
Pro Tip 3/3
No Negative
The phrase doesn't carry negative judgment about the event or activity being missed. The play might be great, but I'll give it a miss tonight.