There are many advantages to setting up the university such as more opportunities for people in the community to pursue their studies and the creation of jobs.
"If you would like to attend a business school, you have to travel across the country to get to a distant university. He or she definitely can get in the business school in the proposed community's university."
----Here you have "you" as the subject of the first sentence. Then in the second sentence, although you are still refering to the same individual, you use "he or she" as the subject. Just pick one.----
"Undoubtedly, the university will have to hire professors, employees and etc." ----Professors would be considered employees so to list these two things seems redundant. I would change the above sentence to something like this:----
Undoubtedly, the university will have to hire professors, janitors, security, and other such faculty.
More waste will have to be managed. Maybe the crime rate will also increase.
Overall very good job and no really major mistakes. You might want to try to work on combining some of your smaller sentences into larger ones. Example:
"Thus, a number vacant positions need to be filled. Also there will be more opportunities to work in the community." ----could become this---- "Thus, a number vacant positions will need to be filled which means there will be more opportunities to work in the community."
----or----
"Moreover, when people have jobs, they will have money to spend on goods and services. This can also help stimulate the local economy." ----could becomes this---- "Moreover, when people have jobs, they will have money to spend on goods and services which can also help stimulate the local economy.
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