This paper introduces the concept of calibration under the umbrella of metacognition. It examines the current theoretical and empirical issues related to self-efficacy beliefs and traces the pathways through which self-efficacy is related to calibration. This paper concludes by outlining three essential components of college teaching of achievement calibration and the educational implications for teachers and learners under the framework of self-efficacy and calibration as two important indices of learning and self-regulation. The importance of this paper is its focus on how teachers can improve student learning, its practical ideas, and strategies for successful teaching.