Born on 3 June 1969 in Prague. Mr Lízal graduated in systems programming from the Faculty of Electrical Engineering at the Czech Technical University. In 1998 he obtained a PhD in economics at CERGE, Charles University. In 2006 he qualified as an associate professor in economics at Charles University.

During his studies and research he undertook several study internships: Tinbergen Institute, Amsterdam (1992), University of Pittsburgh (1994–1995) and William Davidson Institute, University of Michigan (1996–1997 and 2000–2001). In 1994 and 2000 he worked as an external consultant for the World Bank.

In his research he specialises in the economics of transition, econometrics, applied microeconomics, market structures, corporate governance, competitiveness, monopolies and the relationship between economics and the environment. He is the author or co-author of many articles in reviewed and impact journals and chapters in books (mostly in English). He regularly reviews articles for international impact factor journals and proposals for grant agencies. Since 2003 he has been the local coordinator for the World Competitiveness Report issued by the leading management institute IMS in Switzerland.

Since 1993 he has worked as a researcher at the Economics Institute of the Czech Academy of Sciences and since 1998 also as a special assistant at the CERGE economic institute at Charles University. In 2002 he was Deputy Director for Science and in 2003–2008 Director of the Economics Institute of the Czech Academy of Sciences and CERGE. He is currently a member of the Executive and Supervisory Committee of CERGE-EI. He is a member of the Scientific Council of the Faculty of Economics at the University of Economics in Prague, the Czech Statistical Council of the Czech Statistical Office and other scientific boards. He was a member of the expert team that prepared the Ministry of the Environment National Allocation Plan for 2008–2012. From August 2010 to February 2011 he was a member of the National Economic Council of the Government and from November 2010 to February 2011 he was a member of the supervisory board of energy company ČEZ.

The President of the Czech Republic appointed Lubomír Lízal a member of the CNB Bank Board with effect from 13 February 2011.