Hello Avinesh,
It is confused because tags were changed recently for other similar names.
In order to keep all related concepts together I will put old terms in parenthesis.
1) Classes (formely Offers) are the reserved time space to have an instructor led course.
2) Cohort (formely Classes) is an space to group many offers and one curricula, what is nice it that once offers are grouped you assign the cohort and all those classes are assigned to the users.
Very useful when you have groups that are always together for a lot of classes like English classes or formal studies (high school, bachelor, etc.).
Also you can link a Curricula (just one) which is also auto assigned for cohort users.
3) Classes group (formerly Group) is very similar to Cohort but it is just used to group offers in order to identify them easily. You can link a Curricula but I thinks that is useless.
Hope this can be helpful, and in that case vote up this answer please.
-Gerardo
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