The system requirements of Photoshop Elements 7.0 is :
Windows#
- 2 GHz or faster processor
- Microsoft Windows XP with Service Pack 2 or 3 or Windows Vista
- Certified for 32-bit version of Windows
- 1 GB of RAM
- 1.5 GB of available hard-disk space
- Color monitor with 16-bit color video card
- 1024 x 768 monitor resolution at 96 dpi or less
- Microsoft DirectX 9 compatible display driver
- CD-ROM drive
- Web features require Microsoft Internet Explorer 6 or 7 or Mozilla Firefox 1.5 through 3.x
Refer : http://helpx.adobe.com/x-productkb/policy-pricing/system-requirements- photoshop-elements.html