We present a new method for deriving UV-through-IR extinction curves, based on the use of stellar atmosphere models to provide estimates of the intrinsic (i.e., unreddened) stellar spectral energy distributions (SEDs), rather than unreddened (or lightly reddened) standard stars. We show that this ``extinction-without-standards'' technique greatly increases the accuracy of the derived extinction curves and allows realistic estimations of the uncertainties. An additional benefit of the technique is that it simultaneously determines the fundamental properties of the reddened stars themselves, making the procedure valuable for both stellar and interstellar studies. We demonstrate how the extinction-without-standards curves make it possible to: 1) study the uniformity of extinction in localized spatial regions with unprecedented precision; 2) determine the relationships between different aspects of curve morphology; 3) produce high quality extinction curves from low color excess sightlines; and 4) derive reliable extinction curves for mid-late B stars, thereby increasing spatial coverage and allowing the study of extinction in open clusters and associations dominated by such stars. The application of this technique to the available database of UV-through-IR SEDs, and to future observations, will provide valuable constraints on the nature of interstellar grains and on the processes which modify them, and will enhance our ability to remove the multi-wavelength effects of extinction from astronomical energy distributions.

To appear in the Astronomical Journal (September 2005); 28 pages including 9 figures