Essays usually need an overall argument, so I would suggest starting off by unpacking the essay question, re-stating what you think it is asking you, and then saying how you are going to answer it, and what conclusion you expect to arrive at.
Analysis means taking the data / theory / approach which is being singled outin the essay and evaluating it (many students get stuck at description). Your PEEL model maps to this - take a point, explain it (i.e. describe it accurately), analyse and evaluate.
As for referencing in an exam, yes you should cite authors, theories etc - so name-dropping scholars and/or theories with dates if you can remember them would be a good minumum.