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Systems theory is often referred as system science. It is an interdisciplinary study of systems in common terms. The main goal of such studies is to discover new patterns and elucidate principles. Such principles are meant to be derived from and applied to almost any kind of system in all fields of research. These principles can be applied on such fields up to nesting levels. System theory or system science is often considered specialization of system thinking. It uses the emphasis on generality. Such emphasis is useful across a wide system range. When compared to particular models of individual fields, the common emphasis can be applied over wider range of systems.

The central topic of this theory is systems. The systems hold a self-correcting architecture. Feedback is used in order to perform such self-correction over the systems and by the systems themselves (quite confusing, isn't it?). Such self-regulating systems can be found in nature. Here, the term nature also includes the human body's physiological systems, global ecosystems, local ecosystems, climate and human learning processes as well.

Systems theory is originated from General System Theory (GST) developed by Ludwig von Bertalanffy. Systems theory can be used in many other fields. These fields or terms include action theory and social theory. Moreover, the action theory was developed by Talcott Parsons and the social systems theory was developed by Niklas Luhmann.

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No you would be better served spending your time on Wikkipedia. The topic is not done any sort of justice. I think this rendition is a waste of time. Great concept never the less. But not done any justice.