times vs modern world

times and modern world both are nouns.

Word	Noun	Adjective	Verb	Adverb
times	Yes	No	No	No
modern world	Yes	No	No	No

As nouns, modern world is a hyponym of times; that is, modern world is a word with a more specific, narrower meaning than times:

Other hyponyms of times include contemporary world, modern times, present times, Roman times.

times (noun)	modern world (noun)
an arithmetic operation that is the inverse of division; the product of two numbers is computed	the circumstances and ideas of the present age
a more or less definite period of time now or previously present