At our institution semesters, courses, faculty assignments and student enrollments are all managed in the Student Information System. We have an integration to pull that information into Canvas automatically.
If a course is created for a new semester that was taught in a previous semeseter, the instructor can request a copy of the course from the previous semester, which copies all of the assignment groups, assignments, pages, syllabus, quizzes / question banks, grading sheme, etc. into the new course. At the same time previous students and submissions are left behind. From there the instructor can simply reuse the existing content or make any changes to reflect updates to the course.
Basically, we follow a similar path laid out by @Chris_Hofer .
This discussion post is outdated and has been archived. Please use the Community question forums and official documentation for the most current and accurate information.