The paper aims at discussing the changing role of university within the neoliberal economies of knowledge. It raises the question what kind of space universities provide and attempt to be in order to accommodate, and facilitate their educational, research and public roles. Furthermore, it approaches the idea of university as an instance of critical openness, free thought and public engagement which is engrained in the role of liberal art education. Such a concept stands against the frequently promoted model of a self-sustaining, market-based and financially independent provider of professional and vocational training. The paper presents the results of the project that deals with the role of university in the 1968 events. At the same time, the description of the project will be used to show the contemporary transformations of the educational and research system that occur at the University of Zagreb.