This study aims to understand students' adoption of ChatGPT in educational settings. Students' perceptions of ChatGPT influence their intentions to adopt it. The factors that influence their adoption include "Perceived Pedagogy", "Perceived Amplification ", Perceived Ingenuity" and "Perceived Ethics " and these highlight the potential of ChatGPT to revolutionize pedagogical practices, enhance course materials, and serve as a socially immersive and interactive tool. The study used an Exploratory mixed-methods approach, including in-depth interviews with 20 participants and quantitative surveys with 508 students from UAE and India. Data was analysed using SPSS 26 and AMOS 26, and results showed that Perceived Amplification (PA), Perceived Ingenuity (PI) and/or Perceived Ethics (PE) were found to be independent mediators of Perceived Pedagogy (PP) and Students' Adoption of ChatGPT (SAC); furthermore, the above 3 constructs mediated this relationship serially. The research offers management recommendations for optimizing ChatGPT's educational potential while considering ethical issues. This research illuminates the economics of ChatGPT in the realm of education, as it offers enhanced instructional methods, insightful assessments, invaluable support for academic inquiries and written endeavours, and a conscientious integration into ethical frameworks.