As a contrasting perspective, I think you really shouldn't refer to historical/cultural values at all. As far as I've seen, the VCE English course assumes the New Criticism school of interpretation wherein your reading/analysis of a text is based entirely on the text in itself, as opposed to any socio-historical factors surrounding the text's development. You CAN refer to the culture of England presented within the text itself, but explicitly drawing it to the world Shakespeare lived in is a bit unnecessary and will probably convolute rather than make clearer your argument.
My two cents, anyway.
That's a fair point, but the values and context are in the study design so it's definitely something examiners look out for.
"methods of analysing complex texts and the social, historical and/or cultural values embodied in
texts;"
That was basically the only thing I could find which suggested anything close to this in the Study Design (
http://www.vcaa.vic.edu.au/Documents/vce/english/English-ESL-SD-2007.pdf), and I don't think it's still quite what you're implicitly suggesting. Values can just be the "ideologies" embedded within a text, and I think it's telling that it says these values are the ones "embodied in texts" - for instance, the historical perspective spouted by Richard III of the historical King, etc.
Above that though, even IF examiners are looking for historical stuff (and I'm willing to accept this if you can find some convincing proof :p), I don't think it's feasibly something they prioritise as significant. Even in the real world of literary analysis (lol real world), historical context is usually very very subordinate to the actual interpretation (if not irrelevant), and what makes a good essay above all else is a solid, well-analysed reading of a text. The VCE English text response essay is usually going to be 1000-1500 - that's barely enough time to develop the well-analysed reading on its own. In this light, I think it's just a waste of what actually makes a good essay to get bogged down in the historical stuff.
Some other random points:
1. Examiners tend to look for "vibes" more than anything - having spoken to a few examiners, they tend to just mark more based on how an essay "feels" in terms of how well it's written, how well-developed the argument is, how complex the ideas are, how closely the text has been worked with, etc. The criteria is more a guide than anything else and not the gospel truth.
2. I got two 10s in my year 12 in text response with absolutely zero historical reference, and most of my students last year were successful having done none of it as well.
But yeah I think I will mainly stick with the stuff present through the period the play was written, rather than the Elizabethan audience, etc unless a prompt comes up that allows for a clear reference to it.
Do you mean period the play depicts, rather than the Elizabethan audience? Because the play was written in Elizabethan England...=/