Combine the chicken broth, salt and pepper in a saucepan, and bring to a simmer. Keep warm over low heat.
In a square baking dish, or glass pie plate, heat the butter and olive oil in the microwave for 2 minutes. Add the onion to the dish, and stir to coat. Cook in the microwave for 4 more minutes. Add the uncooked rice, and stir to coat with oil. Cook for
another 4 minutes.
Pour the simmering chicken broth into the rice, and stir. Cook in the microwave for 9 minutes. Stir, then microwave for another 9 minutes. If you want a creamier risotto, add 1/4 cup of warm water, and cook for another 2 minutes. Stir in the Parmesan cheese
as soon as it comes out of the microwave, and serve.