Exposition:
From the beginning of the story, we are made familiar of Harry being the chosen one. This is because many years ago his parents fought Voldemort, a Dark Lord. Having lost this battle and their lives, their love protected Harry from dying. To everyone's surprise, Harry emerged victorious by making Voldemort disappear that night. He became known as being special and the Chosen One since then. This is highly essential to the story because this Dark Lord is set out to end him once and for all for what he had done to him.
Rising Action:
Harry went to the Gringotts bank with Hagrid to get the money his parents left for him. Upon arriving at Hogwarts, he became aware that on the day he was there, there was a break-in in the bank. This sparked his interest in finding out the story about the Philosophers Stone.
Climax:
During a game of Quidditch, Harry's friends notice that he looks very uneasy on his broom. This is when Hermione notices Professor Snape apparently performing a hex to hurt Harry. This brings tension between good and evil out in the open, and shifts Harry's attention from winning the game, to surviving.
Falling Action:
The headmaster is sent away and more tension arises. While the forces of good and evil are out in the open, Harry, Ron and Hermione discover and dig deeper into learning about the Philosophers Stone. They also find a mysterious being drinking unicorn blood to sustain himself in the forest, who they later find was Voldemort. They explore the school, which brings about the revelation of Fluffy, a three headed dog on the forbidden third floor. Hermione sees a hidden tap door under the dog, and eventually they get through it. This leads to the three of them using their skills to get through three tasks, with Harry at the end, having to face Voldemort and Professor Quirrell.
Resolution:
Harry defeats Quirrell by placing his hand on his face and burning it. We find that Harry was protected by his parents love, which caused him to defear Quirrell in that way. He takes the Philosophers Stone, but faints due to the fire around him. He wakes up a couple days later, to find Albus tell him that the Stone has been destroyed, it's powers could've killed them all. Everything is resolved and people who were wrongly accused, such as Snape, were brought to light. Gryffindor, Harry's house, won the House Cup, as him and his friends got extra points for their individual bravery. It ends happily, with Hogwarts free of danger, and Harry returning home.