Of course, if you want a _real_ challenge, you could go with High Elf + The Apprentice, for 1.5x and 1.5x, with 100% weakness to magicka.
So, with the 1.5x from The Apprentice, and 0.5x from being a Breton, you'll get the same amount of magic as a High Elf with The Mage as his sign. Corpse Absorb:Fortify/Restore HP Namira Ring Effect:Feed on Dead Expert Command. Bretons already get 50% magic resistance, which means (if I'm right about the way the system works) that the 50% weakness to magicka will be canceled out, and you'll get the 1.5x. Can be made at the Atronach Forge with a torchbug thorax, ruined book. re: Restore Magicka cast drain (i think) magicka on self for 1 second. One thought is choose Breton as your race, I would choose Mage as my class because the premades seem well balanced and there's something cool about a premade anyway, and choose The Apprentice as your sign. However, since you probably don't want all those weaknesses (wuss! (no, I'm kidding I picked Breton, too)), you're probably best off as a Breton Mage. High Elves have the highest, at 1.5x, in addition to all of those weaknesses.
Magic ranges from using spells and abilities, to making. Magic is one of the three specializations in Morrowind, and constitutes a major part of gameplay. Actually, Bretons have the second highest, IIRC. For more information, see the help files, the style guide, and this articles talk page.
