Massive Open Online Courses (MOOCs) seem to be all the rage with college administrators In North America, particularly the United States of America. However many faculty aren’t so sure about them.
http://techcrunch.com/2013/03/22/72-of-professors-who-teach-online-courses-dont-think-their-students-deserve-credit/

For a different, more faculty driven model, see

http://www.informationweek.com/education/instructional-it/cloud-based-lms-wins-over-abilene-christ/240151876?pgno=1