The objective of this article is to study undergraduate student satisfaction with the educational programme in Applied Mathematics in terms of identification of areas for teaching process improvement. Currently, there are no instruments for student evaluation of teaching accepted by the teaching community in Russia, and student feedback implementation is carried out only at certain universities. A questionnaire was developed for the purposes of course evaluation. It includes 10 parameters characterizing the format of the course, the adequacy of educational materials provided for students, the quality of teaching, specific features of course content and learning outcomes. Sixty-six final-year undergraduates evaluated 34 courses that comprise the Applied Mathematics programme based on their memories of past events with the help of a 100-point scale familiar to them. The results were studied using the following statistical methods: correlation, factor, regression and cluster analysis. As a result of the research, three factors were singled out. They are as follows: shortcomings in course arrangement and gaps in teaching skills, moral environment in the classroom and the intrinsic difficulty of the subject. They explain 90% of the variance of the student dissatisfaction parameter Need for a change and 59% of the variance of the teaching quality parameter Students' level of knowledge. Cluster analysis allowed to single out items requiring corrective actions ('severe problem', 'problem' and 'difficult' courses) and to suggest strategies for their improvement.