The velocity by which a disturbance moves through the medium is the wave velocity. Pulse wave velocity is among the key parameters in hemodynamics. Investigation of wave propagation through the fluid-filled elastic tube has a great importance for the proper biophysical understanding of the nature of blood flow through the cardiovascular system. Here, we present a laboratory model of the cardiovascular system. We have designed an experimental setup which can help medical and nursing students to properly learn and understand basic fluid hemodynamic principles, pulse wave and the phenomenon of wave propagation in blood vessels. Demonstration of wave propagation allowed a real time observation of the formation of compression and expansion waves by students, thus enabling them to better understand the difference between the two waves, and also to measure the pulse wave velocity for different fluid viscosities. The laboratory model of the cardiovascular system could be useful as an active learning methodology and a complementary tool for understanding basic principles of hemodynamics.