The phenomenon of increasing tuition fees is one of the factors which reinforce the increasingly consumerist attitudes among students towards the product (understood as a whole process of university education) they receive from universities. The aim of the study is to characterise the difference between the expectations of students and the extent to which those expectations are met by universities. This analysis also focuses on the conditions that determine this perception of what universities offer and discusses selected issues concerning the relations between universities and industry. The findings demonstrate why creativity, apart from practical knowledge, is one of the most important aspects in the process of education, where a student's graduation work is aimed at solving specific problems in companies and institutions. In the empirical part of the paper, students' opinions about the importance of selected aspects of the education process are compared with the level of support provided by universities. The research covered 505 students of economics from 10 different countries. Their expectations of the educational process with regard to the majority of its aspects (apart from theoretical knowledge) proved to be higher than those of their universities. The findings of this research may thus be useful in formulating optimal study plans.