The author describes a Problem-Based Learning (PBL) group assignment in which students predict macroeconomic outcomes of various real-world events before they have learned about the IS-LM model that is covered in Intermediate Macroeconomics textbooks. The author also gives a brief history of the...

In this paper IS-LM model, has been introduced as time series model. Standard VAR, VECM test have been applied. Three variables that we estimated were: logarithm of real GDP (q), 3 month interbank interest rate (i), real monetary base (m). VECM mechanism shows that if the system is in...