Rise and Fall means going up and down.
That said, one of the cool things about themes for jams is that the interpretation is up to you.
Rise and Fall can mean something that literally goes up and down, like a 2d platformer, such as Mario or Sonic
It can mean going up and down on a figurative level, like recieving a promotion at work then getting fired, or something larger like a revolution.
It means what you think it means, thats the cool part