  We review a detailed investigation of the perturbative part of the low-energy
effective action of N=2 supersymmetric Yang-Mills theory in a conventional
effective field theory approach. With the restriction that the effective action
should contain at most two derivatives and not more than four-fermion
couplings, the features of the low-energy effective action obtained by Seiberg
based on $U(1)_R$ anomaly and non-perturbative $\beta$-function arguments are
shown to emerge.
