The most common and most likely answer to this crossword clue is the 7 letter word CATWALK
I've seen this crossword clue in Financial Times
C
A
T
W
A
L
K
Buddy explains!
The straight part
We know that "Course taken by a model" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case course taken by a model = catwalk.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does CATWALK mean?
CATWALK noun- An elevated enclosed passage providing access fore and aft from the bridge of a merchant vessel.
- Any similar elevated walkway.
- A narrow elevated stage on which models parade; a runway
- (by extension, "the catwalk") The business of making clothes for fashion shows.