Alchemists spend their time trying to convert various materials into others. Yes, some do look for changing other elements into gold (almost always failing), but the majority are more focused on magic. Their school of study is Alchemy. Alchemists specialize in poison and caustic substances. In addition to standard spell casting, they can create potions, powders, and bombs that can then be used by others! Alchemists are somewhat resistant to caustic substances since they are around them all the time.