The effects of personal characteristics (e.g. personality, aptitude, gender) on student performance, such as Grade Point Average (GPA) and course grades, have been systematically researched, with the emphasis being mainly on outcomes rather than the processes leading to them. The purpose of this paper is to shift the focus to students' perceived competence for learning and examine how this is affected by personality characteristics and learning climate. Data were collected from students enrolled in an elective economics course at a Greek public university. Results indicated that all Big Five traits, except emotional stability, and learning climate were significantly related to students' perceived learning competence. Finally, only conscientiousness interacted with learning climate to predict learning motivation. Limitations and future research initiatives are discussed in light of these findings. (Contains 1 figure and 5 tables.)