Flow microcalorimeters are used to determine thermodynamic properties of liquid mixtures, the accuracy of these measures depends on the right calibration of the instrument. In this work the system is identified by means of the transfer functions of the two poles, it is proven that the first time constant and the sensitivity change with the value of rc p f of the injected liquids (r - density, c p - heat capacity, f - injection flow), and that the sensitivities obtained in the electrical and chemical calibrations are different for the same value of rc p f because the dissipation in each case does not occur in the same place. As a summary of the calibration carried out, it is proposed a sensitivity value of 313±4 mV W-1 for rc p f<15 mW K-1 that permits to make thermal measures with an uncertainty of 3%.