The most crucial part of exegesis that can be performed on Eph. 2:8 is to correctly identify the antecedent clause to the assertion, "and that not of yourselves" There are two possibilities and one impossibility.
(Eph. 2:8 AV) For by grace are ye saved through faith; and that not of yourselves: it is the gift of God:
First, we'll dispense with the impossibility. It is impossible that "by grace" is the antecedent clause of "and that not of yourselves" in this verse. Such an interpretation would violate all rules of grammar. If this is the antecedent, then likewise in, "I went to San Diego through Los Angeles; it was hot there," "it was hot there," would refer to San Diego instead of Los Angeles, but it is clear that I am referring to Los Angeles as it is the last subject of the sentence. Attributing the heat to San Diego would simply be absurd.
We might say that "and that not of yourselves" refers to faith. This makes perfect sense in the English and accords with all rules of grammar; however, the problem arises not from the English, but from the Greek. In the Greek, "and that" (
kai touto) is neuter, whereas both "for by grace" (
tei gar chariti) and "through faith" (
dia pisteos) are feminine. Because the genders do not match, the "that" cannot be attributed directly to either noun. Instead, it should be construed as applying to the whole, "by grace through faith." That is, the "that" refers to the whole transaction of salvation, which is,
by grace through faith.
This exegesis is of course faithful to the doctrine of monergism. It is
because this exegesis is sound that we believe in monergistic salvation, after all (and because of other verses which obviously teach it). The verse clearly states that salvation (grace through faith) is the gift of God. It does not say that grace is the gift of God, to which man can then choose to respond in faith. Nor does it say that there is grace
and then faith, which is the gift of God (that is, the faith alone is the gift), but the whole of it all--grace through faith--
is the gift of God. God has graciously elected us and graciously caused us to believe, and this is his gift to his children.
Some verses to compare/confer: Jn. 6:65, Rm. 10:17 (see also Jn. 6:63, 1 Co. 2:14; 12:3), 1 Co. 3:6, 7, Php. 1:29.
Soli Deo Gloria
Jon