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In order to further expand your empire it is often wise to invest in scientific research. There are many venues with which to spend your hard earned gold though, so choose carefully

The more you advance in science, the more it will cost to advance even further. If you upgrade your science in one area it will affect the costs in all areas.
 
There is no maximum level to science.

Military Science

Often the key to a decisive victory lies in the quality of arms and armour. A well-equipped fighting force will quite obviously fare better then one without armour or advanced weapons. For every level invested in Military Science, you will receive a 10% bonus in both offence and defence.
Having better weapons then your enemy has armour willl make your soldiers more effective at killing enemy soldiers on the field.

Farming Mining and Forestry

While military is important; you mustn’t forget that a strong military must be supported by an equally strong economy. For every level purchased in one of these fields, you will receive a 10% bonus to production of that resource.

Mining science boosts both the gold and stone produced by mines.

Magic Level

For every magic level purchased you will be able to cast certain spells pertaining to that level, as well as making lower level spells easier to cast.

You receive new spells up until level 10. Level 11 will make you more powerful but will not provide you with extra spells. 

Medicine

When you get injured troops, medicine will help them heal faster and less injured troops will die. It will also prevent child death and diseases, making the population grow faster.