Abstract: The quality management in any organization undoubtedly has a direct impact on the performance of that organization. Thus, the quality of educational institutions has a direct impact on the economy of a country, since higher quality faculties emerge from higher quality students who have higher and better knowledge that will be applied in practice, in a bank, an enterprise, a public institution, or in a school. Increased application of quality knowledge, acquired through education in the enterprise, for example, leads to an increase in the economic position of companies in the market, to a greater profit of the company, which again affects the economy of the whole country. Intellectual capital is considered one of the most important factors in explaining economic growth and is considered one of its sources. Any increase in the quality of education can have an impact on economic growth by improving the productivity or quality of workers.