Background.Research has shown how academic emotions are related to achieve-ment and to cognitive/motivational variables that promote achievement. Mediatedmodels have been proposed to account for the relationships among academic emotions,cognitive/motivational variables, and achievement, and research has supported suchmediated models, particularly with negative emotions.Aims.The study tested the hypotheses: (1) self-regulation and the positive academicemotions of enjoyment and pride are positive predictors of achievement; and (2)enjoyment and pride both moderate the relationship between self-regulation andachievement.Sample.Participants were 1,345 students enrolled in various trigonometry classesin one university.Methods.Participants answered the Academic Emotions Questionnaire-Math(Pekrun, Goetz, & Frenzel, 2005) and a self-regulation scale (Pintrich, Smith, Garcia,& McKeachie, 1991) halfway through their trigonometry class. The students’ final gradesin the course were regressed to self-regulation, positive emotions, and the interactionterms to test the moderation effects.Results and Conclusions.Enjoyment and pride were both positive predictors ofgrades; more importantly, both moderated the relationship between self-regulation andgrades. For students who report higher levels of both positive emotions, self-regulationwas positively associated with grades. However, for those who report lower levels ofpride, self-regulation was not related to grades; and, for those who reported lower levelsof enjoyment, self-regulation was negatively related to grades. The results are discussedin terms of how positive emotions indicate positive appraisals of task/outcome value, andthus enhance the positive links between cognitive/motivational variables and learning.