Yes, you can add events to the course Calendar and make changes to existing events by dragging and dropping calendar items. Any assignment due date changes made in your Calendar are automatically updated everywhere else in the course site. You can view calendar items by day, week, month, or agenda list. You can also create appointment groups in the Calendar via the Scheduler tool.

Further resources:

• What is the Calendar?
• How do I use the Calendar as an Instructor?
• How do I add an event to a course calendar?
• How do I add a recurring event in a calendar as an instructor?
• How do do I add an assignment from the Calendar?
• How do I edit or delete an event or assignment in the Calendar? 
• How do I set a different event date for each section in a course calendar?
• How do I add an event to my calendar as an instructor?
• How do I filter the Calendar view by course?
• What is the Scheduler?