Integrated pest management (IPM) is the combination of cropping systems, practices, and pest control tactics to manage pest populations so that they do not cause economic harm to growers nor negative impacts on the environment. The strategies implemented by growers to achieve their goals (for example, the use of some crop protection products) can result in more or less desirable end products, based on the perception of consumers or other stakeholders. The strategies of growers and the demand for their products contribute to benefits and costs culminating in revenue and profits. In this chapter, we introduce the concepts of economic thinking, discuss the challenges associated with different stakeholder goals, and use case studies to illustrate key principles of economic thinking. We emphasize the importance of considering agricultural system design and utilizing novel control tactics. Understanding IPM within an economic framework can help growers and society create sustainable value over the long term.