Nah, using science as a term still seems fairly reasonable. 

As for the time period, it's a bit awkward since I kind of pictured it as a kind of alternate universe where the need to advance technology wasn't quite as great due to the presence of magic. Like I said, it's a "fairy tale-esque" world, so technologies powered by electricity, for example, wouldn't exactly be a common idea. We could have inventors and such trying to advance this world's known technology over the course of the story, but for the most part, there is supposed to be more of a magical presence then a technological one. If anyone has seen MaouYuu or played The Legend of Zelda, that's closer to what I had in mind.