{subscripts} are smaller characters appearing set slightly below the normal line.
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vote
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Can't turn off fontified subscripts in Emacs 24
Under Emacs 24.3 and Auctex, the sub/superscript fontification is occurring outside math modes. This appears in either Beamer or normal LaTeX docs.
Per this question, I've included the following ...
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Numbered equation makes small sum operator
I am using the followig:
\chapter{Theoretical framework}
\section{Econometric framework}
\begin{equation}
{r^{h}_{t+1}}=
\alpha+\beta x_{t} + u^{h}_{t}
\end{equation}
%random test equationn
...
