Ecosystem-based fisheries management (EBFM) has been the 'next step' in fisheries management for over a decade. Recently, two reports have been published, and each suggests how to proactively make steps towards EBFM implementation. While both are in the context of fisheries management in the US, the analyses are generally applicable. The first report, Building Effective Ecosystem Plans, is a report from the Lenfest Fishery Ecosystem Task: The Task Force believes that operationalizing EBFM, putting principles into practice requires a systematic framework. A framework illustrates the pathways through which managers can identify a coherent set of actions to increase and sustain the multiple benefits people derive from fisheries. This chapter describes the basic elements of the single-species paradigm, and explores how each element can be expanded to be applicable to EBFM. It provides a summary with emphasis on changes on the economic analysis that will be necessary to expand the paradigm.