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"Modo" is a noun which is often translated as "way", and "tiempo" is a noun which is often translated as "time". Learn more about the difference between "modo" and "tiempo" below.
el modo(
moh
-
doh
)A masculine noun is used with masculine articles and adjectives (e.g., el hombre guapo, el sol amarillo).
1. (method)
a. way 
En algunos países, una educación superior es el único modo de conseguir un trabajo bueno.In some countries, higher education is the only way to get a good job.
b. manner 
En caso de incendio, evacúen el edificio de modo inmediato y ordenado.In the event of a fire, evacuate the building immediately and in an orderly manner.
2. (computing)
a. mode 
Para finalizar la instalación, tienes que estar en modo Administrador.To complete the installation, you need to be in Administrator mode.
los modos
A plural noun indicates that there is more than one person, place, thing, or idea.
5. (etiquette)
a. manners 
¿Qué modos son esos? Quita los codos de la mesa.Have you forgotten your manners? Get your elbows off the table.
el tiempo(
tyehm
-
poh
)A masculine noun is used with masculine articles and adjectives (e.g., el hombre guapo, el sol amarillo).
1. (duration)
a. time 
Me tomó bastante tiempo resolver el problema.It took me quite a lot of time to solve the problem.
4. (era)
a. day 
En aquellos tiempos, se jugaba afuera el día entero.In those days, you'd play outdoors all day long.
5. (sports)
a. beat 
El bajo frecuentemente acentúa el cuarto tiempo en la música cubana.The bass often accents the fourth beat in Cuban music.
a. tense 
El tiempo pasado indica que la acción se realizó en el pasado.The past tense indicates that an action is in the past.