Metacognition is "thinking about thinking." It is knowing what you know and what you don't know, and knowing how to work with and around that. Metacognition is vital to success in academic settings, because knowing your own strengths and weaknesses can help students work to the best of their abilities. Metacognition allows kids to evaluate themselves on their own knowledge, allowing them to in turn expand their knowledge.
How and Why it Works
Metacognition is defined (by Google) as "awareness and understanding of one's own thought processes." This awareness allows students to assess themselves and their strengths and weaknesses as they work. It is shown that metacognition is one of the most valuable indicators of future and current success, as opposed to more conventional and tradition methods of measurement.