To examine students' causal judgements of positive mood in relation to self-regulation, 128 participants from two different schools representing two distinct educational environments (Technical/Vocational School (TSO/BSO): N = 63; General Secondary School (ASO): N = 65) were asked to judge 45 statements containing three possible relationships (A [right arrow] B; A [left arrow] B; A [is not equal to] B) for all iterations of 5 constructs associated with "positive mood," namely "Hope," "Optimism," "Resilience," "Confidence," "Persistence," 4 constructs associated with "self-regulation," namely "Motivation," "Social support," "Problem-solving Learning goals," and 1 construct representing "Academic performance." Based on a Pareto analysis, mental models were constructed for each school. An analysis of the mental models indicates that all students believe positive mood constructs to be causally related to self-regulation constructs with "Academic performance" identified as the main driver and "Learning goals" as the primary outcome for both schools. It is concluded that an appreciation of participants' causal attributions of positive mood states in relation to self-regulation can present a clearer picture of the conditions under which participants' causal understanding of positive mood and self-regulation constructs can be activated and used as an interpretive and evaluative framework in learning encounters. (Contains 4 figures and 12 tables.)