Aim of the research in this graduate thesis is to analyze the notion of motivation, its basic elements and importance of motivation among the students of the Faculty of Economics in Split. The research was primarily focused on motivation in studying - observing the level of presence and influence of motivation factors on the mentioned sample. Research also includes an analysis and comparison of two studies conducted over a two-year period. Comparing two different generations of undergraduate level, it was interesting to observe whether the students opinions changed in terms of some motivational features. Motivation is a psychological phenomenon that encourages and directs people to a certain behavior, in this case, the activity at the faculty and commitment to learning, satisfaction of certain needs or accomplish goals, in this case fulfilling faculty obligations and as a consequence, successfulness and degree. According to psychological knowledge and the established theory of motivation, it was examined whether the elements that the theories contain are really closely related to the level and orientation of student motivation. This is primarily due to the social cognitive theory, namely the theory of self-efficacy, which advocates the influence of perceived person's effectiveness as a function of motivation and an inevitable environmental factor from which an individual adopts certain behaviors. This research, though carried out on a small sample, encompassed all important motivational components that would objectively conclude how hard students are committed to fulfilling their obligations, to what extent they stimulate learning and how they see their progress and direction of their own future and career.