The Academy
It is the Academy that teaches young Dungeonmans how to prevail against the terrors of the world. While towns provide Dungeonmans with the necessary hardware, the Academy provides you with Skills and Knowledge. You can upgrade it to make the game easier for future mans, by returning artifacts back to the Academy.
Proof of Strempf
For each PoS you return you get 3 points to spend at the Academy Battlemaster to rais your attributes. Furthermore, all future students from the academy get 1 point right from the beginning. PoS are the most common of all Artifacts. Collect them to get real beefy Dungeon Mans!
Laboratory
The Lab has 3 Tiers, after you reach a certain tier all future students get the poitions preidentified. (If they choose to learn it from the Lab.
The Library
The library is upgraded by returning Books. There is an extra Dialog Option at the Academy Headmaster to turn them in, since a books also grant you the option to learn skills for free. If you upgrade it the librarian will be able to teach you to identify scrolls. If you reach the final tier of the library it will also contain 4 books for each new student. Knowledge is power, gather it fast!
The Museum
The museum serves 2 purposes: Firstly, it collects your knowledge about musters. There is a second kind of books, which increase your knowledge about enemies. If you increase your knowledge about your enemies you will see how much hit points they have left and might also find out about their strength and weaknesses. Additionally, you can turn in Mysterious Items. Like equipment they come in 5 tiers. This grants future graduates of the Academy a hand full of more powerful starting items. For free!
The Armory
Here you can melt down equipment that you don't need and neither want to sell in towns for future students to buy back. Its use is self-explanatory. I'm lazy!
Ghost Professors
Really high educated graduates return as ghost profs if they rip at level 10 or higher. These guys give you a whole talent. Yes! You start these sweet level 6 skills at level 1. So teach 'em and rip 'em!
The Workstation
After you found the hidden tower, you will start to drop map items which allow you to create new dungeons on the overworld. Those are can have special enemy sets and should have their own article.