Given any function $f: X \to Y$ (and consider in general the set of functions with this domain and codomain), there is an induced function $f': \mathcal{P}(X) \to \mathcal{P}(Y)$ such that $f': A \mapsto f(A)$ etc. My question is about what structure is preserved between the two. Do we have to restrict the set of functions to those which are bijective in order to achieve isomorphism (and what does the isomorphism preserve? Inverses, corresponding to the preimage? What else? Is this an important relationship?
For example, do I always have $(g \circ f)' = g' \circ f'$? Do I need to restrict to bijective functions for this and/or anything else?