Magic, also known as 'Hermeticism', has three main disciplines, called tenets.
Alchemy
Alchemy is the most hands-on tenet of Magic, and is the domain of scholars and engineers. The basic principle of Alchemy is the combining of disparate parts to create a new and unique substance. Alchemists are concerned with advancements and discoveries in such areas as medicine, metalsmithing, and mechanics. Morgana University is considered the world's premiere center for the study and practice of alchemy. The supposed "purpose" of alchemy is the creation of the Philosopher's Stone, a miraculous substance told of in legend. It's widely accepted that the Stone itself is a metaphor for human progress and understanding of the natural world.
Astrology
Astrology is a tenet of magic practiced by both the University and the Temple, and indeed by many private citizens concerned with the heavens' effect on their everyday lives. The position of the stars and planets has a measurable influence on certain energies of interests to Wizards and Scholars; indeed, certain Alchemical creations can only be formed when the positions of the planets create favorable combinations of attractive/repulsive energy. The Clocktower and Observatory of Morgana University, the origins of which no one can remember, contain wonderously accurate recordings of the planets' positions, and project their movements and properties upon the domed ceiling and elaborate floor of the Observatory.
Theurgy
Theurgy is the most obscure of the three tenets, and the secret of its practice is fiercely guarded by the Myrddin Temple. It is the practice of imbuing Cores with their fantastic power, used by Alchemists and Engineers to power their marvelously complicated machines. The theory of Theurgy is that the Temple's Wizards use their physical and Psychic bodies to commune with beneficient spirits, closing their energies in the special Core stones. The specifics practice is never questioned and is considered a holy duty charged to only the most elite members of society.