Most good stories start with a fundamental list of ingredients: the initial situation, conflict, complication, climax, suspense, denouement, and conclusion. Great writers sometimes shake up the recipe and add some spice.
Exposition (Initial Situation)
Less Money, Mo' Problems
An Athenian dude named Strepsiades is upset because he's managed to go waaaay into debt financing his son's love of the ponies (racing them, that is). Now he's got creditors "racing" after him to get their cash back, and Strepsiades doesn't have it. So, it seems he needs to come up with a plan.
Rising Action (Conflict, Complication)
Knowledge is Power?
Strepsiades decides that the best course is to argue his way out of the debts (hmm, perhaps he's been watching Clueless?). How, you might ask? Well, apparently a dude named Socrates (yeah, that Socrates) runs a place called the Thinkery that teaches people how to argue well. He wants to send Pheidippides to the school so he can argue the family out of their debts. However, Pheidippides isn't willing (at least initially), so Strepsiades goes instead…
Climax (Crisis, Turning Point)
Nope, Wonky Logic is Power
Strepsiades turns out to be a pretty poor pupil, especially in terms of memory, and Socrates basically tears his hair out trying to figure out how to teach him anything. Eventually, Socrates gives up and resigns, and Strepsiades is finally able to recruit his son to go and do the learnin' instead.
Pheidippides turns out to be a great student, and soon he's arguing circles around everyone. Of course, in order to argue your way out of debts that you knowingly took on, someone would have to use a pretty twisted or evil kind of logic, right? Sure enough, Pheidippides becomes an expert in something called the "Worse Argument," which pretty much tells you everything you need to know about that. While all of this is going on, the "Clouds"—which are basically like gods—are watching and weighing in… and they don't really approve. Uh oh.
Falling Action
You Wouldn't Know Logic if it Hit You Over the Head…
As both the Clouds and Pheidippides predicted, Strepsiades comes to regret that he sent his son to that fancy logic school—regret it big time. Pheidippides has become so skilled in the Worse Argument that he uses it to justify beating his own father. After that incident, Strepsiades realizes that his scheme was a bad idea and regrets ever plotting to get out of paying his debts.
Resolution (Denouement)
Burning Down the (Logic) House
Strepsiades decides that he should get revenge on Socrates and others at the Thinkery for exposing him and his son to the wonky "Worse Argument" logic that makes wrong things right. So, he sets that structure on fire, and encourages Socrates and his posse to scoot if they don't want to die in the fire and smoke.