Abstract: Economic education in Romania has gone through many changes in recent years, in order to modernize and adapt to the requirements of the economy based on knowledge. But, regardless of the stage, students’ satisfaction is a key criterion for assessing the relevance and the accomplishment of the mission of universities in society. The highest satisfaction should be a constant concern for managers of higher education institutions. In order to achieve this goal, it is very important to periodically determine which are the most significant factors for students, how satisfied are they and which is the performance of the higher education for these attributes. The knowledge transfer process and the degree to which we can speak of a modern university tailored to the needs of the business environment and focused on increasing the relevance of the educational process for the labour market can be appreciated taking into consideration the content of the educational activities. The objective of this research is to identify relationships between the importance, satisfaction and performance of the instructional process in the process of improvement of the university management and the creation of better university programs. Our analysis was based on an empirical research conducted in a major Romanian faculty in the field: Faculty of Economics and Business Administration of Cluj-Napoca. The research was carried out by means of the survey method using quota sampling. Findings have revealed a significant positive contribution of the assessed factors to the increase of the quality of educational process. Also the factors that characterize the instructional process are correlated. The results revealed students’ concern to acquire practical knowledge. There is also a significant difference between students’ expectations and students’ satisfaction regarding the quality of the content of teaching activity. Unfortunately, in case of all factors the performance of institution was negative associated with a number of negative effects.