The optical properties of short pitch cholesteric liquid crystals are theor
etically analysed in the framework of an effective medium theory. It is sho
wn that such properties are well described by a very simple homogeneous mod
el, defined by an effective permittivity tensor <(<epsilon>)over tilde> hav
ing uniaxial symmetry, that is expanded in a power series of the ratio p/la
mbda (o) between the helix pitch and the light wavelength. The linear term
is identically zero. This fact gives short pitch cholesterics very unusual
properties for their optical activity, which is related to the scaling term
s as (p/lambda (o))(m),with m odd and greater than 1. Some problems related
to the presence of these terms and concerning boundary effects are discuss
ed but not fully resolved. The limits of validity of the different approxim
ations, obtained by considering only a limited number of terms, are also fo
und.