Exam (elaborations)
ECS2604 EXAM PACK 2022
- Course
- ECS2604 - Labour Economics
- Institution
- University Of South Africa
Recent exam questions and answers and summarized notes for exam preparation. for assistance. All the best on your exams!!
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ECS2604 PAST EXAM PACKANSWERS (2020 - 2014) & 2020
NOTES
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ECS2604
LABOUR ECONOMICS
PAST EXAM PACK QUESTIONS AND ANSWERS
(2020 – 2014)
2020 MAY/JUNE EXAM QUESTIONS AND ANSWERS
2020 SUMMARISED NOTES
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ECS2604: LABOUR ECONOMICS
MAY/JUNE 2020 EXAM MEMO
UNIQUE NUMBER: 477965
SUB SECTION A1 QUESTION 1
According to the theory of demand, discuss and illustrate by means of a
graph the implication of the amendment of Compensation for
Occupational Injuries and Diseases Act no 61 of 1997? (10)
COMPENSATION FOR OCCUPATIONAL INJURIES AND DISEASES ACT,
1993
AS AMENDED BY ACT 61 OF 1997
AIM OF THE BILL
The Act was promulgated with the objective of providing compensation for: -
1. Disablement caused by occupational injuries or
2. Diseases sustained or contracted by employees in the course of their
employment, or
3. Death resulting from such injuries or diseases.
The Act establishes a compensation fund which consists of penalties and
assessments paid by employers, interests on investments of the compensation
fund and moneys vested in the fund. This is to be used for payment of
compensation, the cost of medical aid and witness fees.
Chapter 6 of the Act deals with calculations that are to be taken into
consideration when compensating an employee for temporary total
disablement and permanent disablement. Permanent disablement of
employees in training or less than 26 years of age, compensation if an
employee dies, if an employee previously received compensation, pensions
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and increased compensation due to negligence of an employer is also dealt
with under this chapter.
Section 65 of the Act entitles an employee to the compensation if he or she
contracted a disease in the course of employment. Medical aid is provided in
case of temporary disablement
The employer is responsible for conveyance of injured employees and their
medical expenses in cases where they contract diseases.
An employer who demands or receives from an employee contribution towards
the cost of medical aid supplied shall be found guilty of offence.
The labor demand of an employer is the number of labor-hours that the
employer is willing to hire based on the various exogenous variables it is faced
with, such as the wage rate, the unit cost of capital, the market-determined
selling price of its output. According to the amendment of the Compensation
for Occupational Injuries and Diseases Act no 61 of 1997, it reduces the labour
demand by within the labour market as all employers conducting business in
the Republic are required to register with the commissioner and furnish him
with the prescribed particulars of his business, a health and safety
representative and a trade union representative shall have the right to inspect
and where appropriate bring to the attention of the commissioner, any register,
document or record which the employer must maintain which then increases
the costs of employing more workers therefore will result in an leftward shift of
the demand for labour as illustrated below.
From the diagram above the amendment of the COIDA (1997) increases the
cost of labour to the employer and therefore will shift the demand curve for
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