If your camera, the EAP and your wireless clients all use static IPs, this would work with the EAP in standalone mode. If you need to use dynamic IPs (DHCP) you will need a DHCP server somewhere (typically on a router). The EAP is an AP only, not a router.

"Standalone mode" means you use it stand-alone, without the EAP controller software running on some PC.
Emulator is here: http://static.tp-link.com/resources/simulator/EAP120_1.0/index.html