For a three-act plot analysis, put on your screenwriter’s hat. Moviemakers know the formula well: at the end of Act One, the main character is drawn in completely to a conflict. During Act Two, she is farthest away from her goals. At the end of Act Three, the story is resolved.
Act I
Peekay is identified as the little guy, picked on at school and treated like dirt because he's different. The bullies at school kill his pet chicken, Granpa Chook, and he vows to never be made to feel less ever again.
Act II
Peekay decides to take up boxing, and becomes a great student and an excellent boxer. His plan is to become welterweight champion of the world and go to Oxford University, but he doesn't have enough money and loses a scholarship opportunity.
Act III
Peekay heads to the mines to work and save up for a year before heading to Oxford, where he meets the bully from school again. They fight, and Peekay takes revenge for Granpa Chook, carving his initials into the bully's arm—Peekay's initials, that is. Not Granpa Chook's.