The normative version of RDF Schema (RDFS) gives non-standard (intensional) interpretations to some standard notions such as classes and properties, thus departing from standard set-based semantics. In this paper we develop a standard set-based (extensional) semantics for the RDFS vocabulary while preserving the simplicity and computa- tional complexity of deduction of the intensional version. This result can positively impact current implementations, as reasoning in RDFS can be implemented following common set-based intuitions and be compatible with OWL extensions.