The Hobbit
The Hobbit makes use of many standard conventions of adventure stories, the most common being the idea of a quest. In quest stories, the main character must leave home for a journey. In the course of the journey, the character has adventures, makes discoveries, and acquires relationships, returning home as a changed person. Everything from Star Wars (Episode 4) to The Wizard of Oz makes use of this basic plot.
So one way to read The Hobbit is by watching Bilbo's development as a character. Where and how does he change? How is he different at the end of the story?
This is also a bit of a heroic epic, and so presents dramatic enactments of heroism. In this particular literary universe, what qualities does a hero have?
Don't be too distracted by the portions of the Hobbit that set up the Lord of the Rings. While they are details that will be important in that story, they are minor issues in this one.
