This paper presents a model for day-ahead scheduling of the combined heat production heat and electric energy production for a residential microgrid taking into account the economic factors in a liberalized electricity markets, the technical factors in the safety/quality of supply, and the consumer preferences. This day-ahead scheduling model is complemented with a real-time economic model predictive control (MPC) model for a subsequent control with respect to the outcomes of the day-ahead scheduling. This combined scheduling and economic MPC provides a general set-up capable of overcoming several major difficulties encountered with a typical scheduling + tracking MPC set-up, e.g., the problems of connecting the economic objectives with different temporal resolution and different requirements in terms of delivery.