Module-based education

What is module-based education? 

It’s a learning format where each course is studied within a specific timeframe or module. Students receive their grades for a module right after they complete it. Usually, only one course is studied within each module. This learning format makes it possible to not only focus on one specific course at a time, but also invite leading scientists and lecturers in a given field from other Russian and international universities. 

How is this format different from the traditional one?