I thought of an idea for alchemy for future tournaments (fingers crossed). Since its been mentioned that the AI isn't very good at using its potions, I think its kind of pointless for your number of potions to increase when alchemy ranks up. I think instead of just getting double or triple the number of potions, you should choose potion setups for each rank like this:
Apprentice: budget of 100, choose what you want
Journeyman: Budget of 250, choose what you want
Expert: Budget of 350, choose what you want
Master: Budget of 500, choose what you want
Also, maybe have Imperials have an increased base magic item budget instead of resist shock