Elements
There are five of them and these are:
Air, the element of wisdom.
Water, the element of intuition.
Earth, the element of stability.
Fire, the element of desire.
Aether, the gateway to them all.
Magik
Magik, the representation of the elements within ourselves. Not anyone can use this ancient art and the element that chose you will stick with you for life. Magik usually manifests in the first four elements, however, every once in a while an Aether is born. Those with the ability to summon all four, and even if mastering this art takes longer than usual conjuration they are considered both beautiful and special because of their rarity.
Alchemy
Alchemy has to do with the interaction of the elements with each other. Mixing the different elements to produce something new and fresh, something different and unique. That's what alchemy is all about. Alchemist specialize in producing potions that contain within themselves all sorts of elemental power; Those of higher level have found a way of channeling the aether to create the so-called homunculi.
Technology
Technology is the practical application of knowledge to channel the elements by applying particular processes and methods to make them accomplish a particular task. Being something as simple as opening a door by using weights to more complex inventions. For technology there's no limits.