The Institute of Applied Physics RAS in Nizhny Novgorod (former Gorky) began independent activities in April 1, 1977. It was created on the basis of several divisions of the Radiophysical Research Institute (RRI) of the Ministry of Higher Education of Russian Federation. The IAP was conceived and created as a multi-purpose institution combining fundamental and applied studies in the field of plasma physics, high-power electronics, physics of the atmosphere, hydrophysics, and quantum electronics. The birth of the IAP RAS opened up an "academic" page in the history of Nizhny Novgord physics and was a natural continuation of rapid (beginning with the thirties) formation and development of radio physics and radio electronics in Gorky. The contributions of A.A. Andronov, M.T. Grekhova, G.S. Gorelik, V.L. Ginzburg, M.L. Levin, and their followers and disciples made radiophysics an independent field of knowledge. In the broad sense, radiophysics is science dealing with oscillations and waves of various physical nature, which encompasses the entire spectrum of oscillatory and wave problems: excitation of oscillations and waves in nonequilibrium media and systems, emission and propagation of waves, wave-medium interactions, recording and processing of oscillatory and wave signals, inverse wave problems of remote diagnostics. Generality in formulation of these problems and in methods of their theoretical and experimental studies gives unique capabilities for efficient collaboration of specialists studying electromagnetic and acoustic waves, dynamics of the ocean and atmosphere, stochastic dynamics of nonequilibrium systems and turbulence, laser physics, and many other subjects. Correspondingly, this increases capabilities for solving applied problems.