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This paper concerns optical properties of the isotropic phase above theisotropic-cholesteric transition and of the blue phase BP III. We introduce aneffective index, which describes spatial dispersion effects such as opticalrotation, circular dichroism, and the modification of the average index due tothe fluctuations. We derive the wavelength dependance of these spatialdispersion effects quite generally without relying on an expansion in powers ofthe chirality and without assuming that the pitch of the cholesteric $P$ ismuch shorter than the wavelength of the light $\lambda$, an approximation whichhas been made in previous studies of this problem. The theoretical predictionsare supported by comparing them with experimental spectra of the opticalactivity in the BP III phase.Comment: 15 pages and 7 figures. Submitted to PR

Effective index of refraction, optical rotation, and circular dichroism in isotropic chiral liquid crystals