Can be done; look into groups and groupings for a start but perhaps you could give more details of what the course looks like e.g. big difference between a course that consists of a self contained scorm package compared to a course built within Moodle with various forums, quizzes, assignments, lessons etc. which is where it becomes more complex than out of the box if you have requirements for timed release of content.
Teaching with Moodle
Running overlapping courses?
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