This document provides an overview of how literary theory can be used to understand and interpret literature. It discusses two specific theories - New Criticism and Feminist Criticism - and how each emerged to address problems in traditional literary analysis. New Criticism focused on close reading of texts themselves rather than external contexts, while Feminist Criticism seeks to understand gender inequality and ways women are oppressed in patriarchal societies by examining portrayals and power dynamics between male and female characters. The document also briefly summarizes the historical context of Guy de Maupassant's short story "The Necklace" and provides rationale for analyzing it using these two theories.