IPA publishes research and political papers, including its own magazines and newsletters. The IPA publishes material in the mainstream media. The IPA holds forums and seminars, many open to the public. The IPA engages in direct lobbying of government on public policy issues.

Edited version from: Cahill, Damien C, The radical neo-liberal movement as a hegemonic force in Australia, 1976-1996, PhD thesis, History and Politics Program, University of Wollongong, 2004, p 112-113. http://ro.uow.edu.au/theses/193. "Founded in Melbourne in 1943, the Institute of Public Affairs (IPA) is the oldest of Australia’s neo-liberal think tanks. The IPA had its genesis in the disintegration of the United Australia Party and the desire, within sections of the capitalist class, to secure the hegemony of capitalism upon the cessation of the Second World War. The IPA, during its early years, strategically adopted a position that was broadly supportive of Keynesian economic planning, while at the same time rejecting any moves towards socialism. In adopting such a position, the IPA deliberately repudiated laissez faire as a guiding principle of good governance. Thus, from its inception until the mid-to late 1970s, the ideology of the IPA could be characterised as anti-socialist Keynesianism. From the late 1970s onwards, and accelerating with the appointment of Rod Kemp as Director in 1982, the IPA shed its Keynesian past and embraced radical neoliberalism. This has been combined with a conservative moral philosophy. As a neo-liberal think tank the IPA has produced a periodical, IPA Review (which, from 1985, has been sold in newsagents as well as through subscription), a regular summary of economic and social indicators , Facts, as well as more detailed Backgrounders, Policy Issues, Current Issues, Education Papers, Economic Papers and a host of other book and monograph-length publications. In addition, the IPA has organised regular forums, seminars and lectures — some private, but many open to the general public. The IPA was originally called the Institute of Public Affairs (Victoria) in order to distinguish itself from the Institute of Public Affairs (NSW). Based in Sydney, the IPA (NSW) was unaffiliated with its Victorian namesake and, according to Marian Simms, was, from its inception, more opposed to government intervention in the economy. In the 1980s, under the directorship of Gerard Henderson, the IPA (NSW) advocated a radical neo-liberal agenda. In 1989 the IPA (NSW) was reborn as the Sydney Institute, under Henderson’s directorship. This change in organisation also heralded a change in philosophy, with the Sydney Institute being much more a forum for debate, and less a vehicle for radical neo-liberalism, than its predecessor." From the IPA website: "The Institute of Public Affairs is an independent, non-profit public policy think tank, dedicated to preserving and strengthening the foundations of economic and political freedom. Since 1943, the IPA has been at the forefront of the political and policy debate, defining the contemporary political landscape. The IPA supports the free market of ideas, the free flow of capital, a limited and efficient government, evidence-based public policy, the rule of law, and representative democracy. Throughout human history, these ideas have proven themselves to be the most dynamic, liberating and exciting. Our researchers apply these ideas to the public policy questions which matter today. The IPA's specific research areas include the environment, deregulation, workplace relations, energy, political governance, intellectual property, telecommunications, technology, housing, education, health and agriculture. The IPA publishes a wide variety of research papers and supporting opinion pieces, as well as host conferences and lectures across the country. The IPA also publishes the IPA Review, Australia's longest running political magazine. In 2008, the IPA Review was awarded the Sir Anthony Fisher Memorial Award for best magazine.

The IPA is funded by individual memberships and subscriptions, as well as philanthropic and corporate donors.