Why do i get the feeling that I am not learning much about engineering in IIT?

Lets take a look. I've been here for the past two years, thats half my course completed and the only thing i've learnt about engineering is that you do not need to study much to get decent grades !! Whoa.. that was really not the reason why i entered this place. It was, if i remember right ,with a passion to learn, to be the best ( was it really? well i do not know. Boy, i've changed a lot and this might be a consequence of that. Or not). But you know now that i look back on these years i really do not remember what i have learnt in class. As a person, i will agree that I have definitely grown and have started making decisions of my own, learning to live on my own, roughing it out, standing on my own feet, and having fun at the same time. I've found happiness, I've found passions, I've found adventures, I've even found love. But when it comes to engineering, well, unfortunately what i've found i've either lost it as soon as i did, or i never found it at all. Take my friends who are doing the same mechanical engineering course in other colleges. They speak of stuff I have never even heard about. This design, that circuit, this code. My oh my, you've lost me totally guys. 

Why is it this way? Is it something amiss with the way we study here? Could be, our semesters are very short, we have the least number of classes( we crib about it still, we sleep them off, we wake up, we find end sems, the quizzes are a vague memory). And in these semesters are packed a host of extra and co curricular activities. To give you an example - all that my mom thinks i do is shaastra, saarang and mechanica and fun ( i never fail to mention that)  ! Lol. And to top it all anyone who opens his books well before the night of the exam is tagged a 'muggu'. God!! 

I really do not understand this. Now that i'm doing an intern in wheels india, i've learnt that there are loads of things about real engineering that i do not follow or dont give a damn. Its also made me realise that people from my college all prefer white collar jobs over core engineering ones. I'm going that way too. Pray, my mom would never understand. But thats the way it is. With my track record on marketing, i'd seamlessly slip into any job in that sector. 

IIT M offers you a lot besides engineering, people. In fact it offers the 'lot' part more than engineering. And here i am experiencing it to the fullest.