This document discusses challenges and opportunities presented by MOOCs (massive open online courses). It defines key aspects of MOOCs such as their massive, open, online nature and lack of fees or prerequisites. It outlines different types of MOOCs and major MOOC providers. Completion rates for MOOCs are typically low, at 10-15%. The document explores ways universities can respond to MOOCs through collaboration, developing courses relevant to communities, and offering partial credit towards degrees.