Yes, you can make backups in two ways: Archives and Exports. Both are found under Packages and Utilities in the Course Control Panel.
An Archive creates a zipped backup file of all content and student related data. Only FCLD or ITS can fully restore an archive with enrollments and student data into a new or existing course.
An Export creates a zipped backup file of content only. It does not include enrollments or student data such as grades, assignments or discussion board posts. You can import the exported file into a new or existing course by going to the Control Panel and selecting Packages and Utilities > Import Package View Logs.
To create an Archive or an Export file, go to the Control Panel and select Packages and Utilities > Export/Archive Course. Select the items you would like to export, then click Submit. When you receive the confirmation email, log back in to your course and go to Export/Archive Course to find your backup file. To save it to your computer, right click and download the file.