Look at these examples:
Pendant la dernière semaine de mes exams, je suis tombé malade.During the final week of my exams, I got sick.
Dernier/Dernière means last/previous when it comes after the noun, but last (ever)/final if it comes before the noun.
Note that as an adjective, dernier agrees in gender and number with the noun it refers to.
Special case of la fois dernière / la dernière fois = (the) last time
To express last time (previous)
When last time is used on its own, you can use either la fois dernière or la dernière fois indifferently in French,
BUT
When last time is followed by a clause (last time I saw you), you can only use la dernière fois, and never la fois dernière.
To express the last time (final)
You always use la dernière fois .
See also:
Ancien = former / old (adjectives that change meaning according to position)
Cher= dear / expensive (adjectives that change meaning according to position)
Certain = specific / sure (adjectives that change meaning according to position)
Propre = own / clean (adjectives that change meaning according to position)
Vrai = real / true (adjectives that change meaning according to position)
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Learn more about these related French grammar topics
Examples and resources
Pendant la dernière semaine de mes exams, je suis tombé malade.During the final week of my exams, I got sick.
Tu étais encore avec Stéphane la dernière fois que je t'ai vue.You were still with Stéphane last time I saw you.