He graduated from the University of Zagreb Faculty of Economics in 1951 and earned a doctorate at the same institution in 1956.
Between 1970 and 1971 he served as dean of the Faculty of Economy and then as rector of the University of Zagreb for three years from 1986 to 1989.
He also held posts in various governmental bodies of SR Croatia and Yugoslavia.
Stipetić became a member of the Croatian Academy of Sciences and Arts in 1973 and in 2000 he was made an honorary professor emeritus of the University of Zagreb.
Stipetić also published some 30 books dealing with Yugoslav economics and agrarian economy.