Details are scant right now, but Square Enix have announced that Bravely Second will involve a magic academy of some sort.
What we do know about the magic academy is that it’s practically a town or city in and of itself—built at the behest of the prime minister of Lakrika, on the continent of Nadarakes. With its completion, scholars and students from all over have congregated and begun exploring and debating new magical theories and day-to-day learning.
More interestingly, new forms and systems of magic have been developed here, thanks to the university faculty. It remains to be seen how this ties in to the game’s story and—if we’re lucky—battle system.