I have a new ceiling fan that comes with a wall dimmer and fan speed /on and off... My house wiring is old and has only one black and one white wire,. will this switch work... I have an electrician coming to install. Paid plenty for the fan and I want to make sure...

No it will not work. What you have is two separate switches, one a dimmer and one a speed control, each separate devices. A third wire will be needed to be installed from the switch location to the ceiling outlet box, so that there is one switched wire for the fan and one for the light.

This means he will need to install a new 3 wire cable, as just one wire cannot be added, unless for some reason there is conduit in the walls.

Actually it depends, how many wires does the switch have? Some fans allow for fan/light control with only 2 wires. Casablanca in particular includes this sort of control with most of their fans.

Ceiling fan remote controls - help and FAQ- Ceiling Fans N More