|Magic Circle / Magic Level
Both abilities refers to the magic, but they are completely different.
Most of the magic scrolls have their counterparts in the form of magic runes that can be used any amount of time. These runes require learnt specified magic circle depending on the spell.
Magic Circles can be only learnt by mages from NPCs.
On the other hand, magic level increases whenever you spend your Mana Points using magic. The higher magic level you have, the more damage you deal with the spells.