This paper is an "evaluation" study in the form of an extensive "case study" of one particular business school in Greece. Its alleged contribution focuses on the conclusions it hopes to draw in relation to the evaluation research methodology, based on the case evaluation research, experimenting with the use of students' ratings (SETs). The effect of a number of quantitative variables (expected course grade, student study hours, course difficulty, and instructor grading system) as well as of a number of qualitative variables (student's major discipline and reason for taking a course, and instructor gender and employment status) on SETs are examined in order to provide a basis for restructuring the currently employed evaluation research methodology.