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This chapter easily divides into three parts: a salutation, spiritual blessings in Christ, and a prayer for wisdom and revelation. David Guzik in his introduction to chapter one of Ephesians says the following:

a. Paul’s letter to the Ephesians has been called “the Queen of the Epistles,” “the quintessence of Paulinism,” “the divinest composition of man” and even “the Waterloo of commentators.”  Some say that Ephesians reads “like a commentary on the Pauline letters” and probably it has been best termed “the crown of Paulinism.”

 

i. “It sums up in large measure the leading themes of the Pauline writings . . . But it does more than that; it carries the thought of the earlier letters forward to a new stage.” (Bruce)

 

ii. “Among the Epistles bearing the name of St. Paul there is none greater than this, nor any with a character more entirely its own . . . There is a peculiar and sustained loftiness in its teaching which has deeply impressed the greatest minds and has earned for it the title of the ‘Epistle of the Ascension.” (Salmond)

 

iii. “If Romans is the purest expression of the gospel (as Luther said), then Ephesians is the most sublime and majestic expression of the gospel.” (Lloyd-Jones)

 

iv. Lloyd-Jones also said of Ephesians: “It is difficult to speak of it in a controlled manner because of its greatness and because of its sublimity.”

David Guzik

I talked about the question of authorship in my introduction; whoever the author is, certainly Ephesians summarizes Pauline themes in their mature development; it is truly great and, indeed, sublime, and the reader sees this in the very first chapter.

Salutation

1:1 From Paul,1 an apostle of Christ Jesus by the will of God, to the saints [in Ephesus],2 the faithful3 in Christ Jesus. 1:2 Grace and peace to you 4 from God our Father and the Lord Jesus Christ!

According to salutation, the letter is from Paul, made an apostle of Christ Jesus by the will of God.  Paul is not an eye-witness of the physical presence on Christ on earth in the form of Jesus. What he claims is essentially that he has been made an apostle directly as the will of God. If, in fact, Paul is the author of Ephesians, as the writer here acknowledges, he is an apostle to the saints in Ephesus. The Revised Standard Version begins in much the same way:

Eph 1:1 Paul, an apostle of Christ Jesus through the will of God, to the saints that are at Ephesus, and the faithful in Christ Jesus:

Eph 1:2 Grace to you and peace from God our Father and the Lord Jesus Christ.

The Net Bible adds explanatory notes: these indicate the word "from" is added and that Marcion's canon list offers the letter to the Laodiceans:

1 tn (1:1) Grk "Paul." The word "from" is not in the Greek text, but has been supplied to indicate the sender of the letter.
2tc (1:1) The earliest and most important MSS omit "in Ephesus" (Ì46 Í * B* 6 1739 and apparently Marcion's list), yet the opening line of this epistle makes little sense without them ("to the saints who are and are faithful..."? or perhaps "to the saints who are also faithful," though with this sense the ou\sin [ousin] is redundant and the kaiv [kai ] is treated somewhat unnaturally). What is interesting is Marcion's canon list which offers the letter to the Laodiceans among Paul's authentic epistles. This, coupled with some internal evidence that the writer did not know his audience personally (cf. 1:15; 3:2; absence of personal names throughout), suggests that Ephesians was an encyclical letter, intended for more than one audience. Does this mean that the shorter reading is to be preferred? Yes and no. A plausible scenario is as follows: Paul sent the letter from Rome, intending it first to go to Ephesus. At the same time, Colossians was dispatched. Going counterclockwise through Asia Minor, this letter would first come to Ephesus, the port of entry, then to Laodicea, then Colossae. Tychicus' instructions may well have been for each church to "fill in the blank" on the address line. The church at Ephesus would have certainly made the most copies, being Paul's home base for nearly three years. Hence, most of the surviving copies have "in Ephesus" in v. 1. But one might expect a hint of evidence that Laodicea also made a few copies: both Marcion's list and Col 4:16 may well imply this. What is to account for the early Alexandrian evidence, then? These MSS were probably made from a very early copy, one reflecting the blank line before each church filled it in. Although it is of course only speculation (as is necessary in a historical investigation lacking some of the pieces to the puzzle), this scenario accounts for all of the data: (1) "in Ephesus" in most MSS; (2) Laodicea in Marcion's list and Col 4:16; (3) the lack of an addressee in the earliest witnesses; (4) why the earliest witnesses' reading must be rejected as too hard; and (5) why Paul seems not to know the readership. In sum, is "in Ephesus" original? Yes and no. Some address belongs there; ejn *Efevsw/ (en Efesw ) is the predominant address; but several other churches also received this circular letter as their own. For this reason the phrase has been placed in single brackets in the translation.

The post-modern "yes and no" about Paul's authorship may be as much certainty as can be determined for the reader and invites an analysis outside the purpose of this introduction, although in the introduction itself, I did address authorship. The salutation extends grace and peace from G od our  Father and from the Lord Jesus Christ::

Eph 1:2 Grace be to you, and peace, from God our Father, and from the Lord Jesus Christ.

The writer is clear about the relationship of saints or believers to God as Father and about the role of Jesus Christ: Lord. Note, the Jewish and Greek form is used in this translation "Jesus Christ."

The Net Bible points out a stylistic characteristic of Ephesians that some use as an argument for an author other than Paul; the unusually long sentences in Ephesians are not characteristic of his writing in other books:

5sn (1:3) Eph 1:3-14 comprises one long sentence in Greek, with three major sections. Each section ends with a note of praise for God (vv. 6, 11, 14), focusing on a different member of the Trinity. After an opening summary of all the saints' spiritual blessings (v. 3), the first section (vv. 4-6) offers up praise that the Father has chosen us in eternity past; the second section (vv. 7-11) offers up praise that the Son has redeemed us in the historical past (i.e., at the cross); the third section (vv. 12-14) offers up praise that the Holy Spirit has sealed us in our personal past, at the point of conversion.

Blessings in Christ

The organization above is a useful theological statement: Ephesians 1. 3-14 praises the Trinity: the Father has chosen us in eternity past, the Son has redeemed us in the historical past, and the Holy Spirit has sealed us in our personal past, at the point of conversion. Consider the Revised Standard Version:

Ephesians, chapter 1[1]: Paul, an apostle of Christ Jesus by the will of God, To the saints who are also faithful in Christ Jesus: [2]: Grace to you and peace from God our Father and the Lord Jesus Christ. [3]: Blessed be the God and Father of our Lord Jesus Christ, who has blessed us in Christ with every spiritual blessing in the heavenly places, [4]: even as he chose us in him before the foundation of the world, that we should be holy and blameless before him. [5]: He destined us in love to be his sons through Jesus Christ, according to the purpose of his will, [6]: to the praise of his glorious grace which he freely bestowed on us in the Beloved. [7]: In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace [8]: which he lavished upon us. [9]: For he has made known to us in all wisdom and insight the mystery of his will, according to his purpose which he set forth in Christ [10]: as a plan for the fulness of time, to unite all things in him, things in heaven and things on earth. [11]: In him, according to the purpose of him who accomplishes all things according to the counsel of his will, [12]: we who first hoped in Christ have been destined and appointed to live for the praise of his glory. [13]: In him you also, who have heard the word of truth, the gospel of your salvation, and have believed in him, were sealed with the promised Holy Spirit, [14]: which is the guarantee of our inheritance until we acquire possession of it, to the praise of his glory.

Daniel Wallace, in his introduction to Ephesians, also, sees this introduction as emphasizing the Trinity:

Immediately he launches into praise for God as a theological preface to the body of his letter (1:3-14): God is blessed and is to be praised because (1) the Father elected us in eternity past (1:3-6), the Son redeemed us in the historical past (1:7-12), and the Spirit sealed us in our personal and individual pasts (1:13-14). Thus Paul begins this letter with a reminder of the great things God has done for believers individually http://www.bible.org/docs/soapbox/ephotl.htm

The full development of the Trinity is another reason some use for arguing this letter is by an author later than Paul, who used a more developed Christian theology. 

Matthew Henry summarizes the organization of this chapter in a similar way:

* A salutation, and an account of saving blessings, as prepared

in God's eternal election, as purchased by Christ's blood. (1-8)

And as conveyed in effectual calling: this is applied to the

believing Jews, and to the believing Gentiles. (9-14) The

apostle thanks God for their faith and love, and prays for the

continuance of their knowledge and hope, with respect to the

heavenly inheritance, and to God's powerful working in them.

(15-23)

Theology in verses 4-14 introduces two concepts  needing some exploration: "chosen and destined" and "adopted."  The Net Bible explains these as follows:

13tn (1:5) Grk "by predestining." Verse 5 begins with an aorist participle dependent on the main verb in v. 4 ("chose").
sn (1:5) By predestining. The aorist participle may be translated either causally ("because he predestined," "having predestined") or instrumentally ("by predestining"). A causal nuance would suggest that God's predestination of certain individuals prompted his choice of them. An instrumental nuance would suggest that the means by which God's choice was accomplished was by predestination. The instrumental view is somewhat more likely in light of normal Greek syntax (i.e., an aorist participle following an aorist main verb is more likely to be instrumental than causal).
14tn (1:5) Grk "to himself" after "through Jesus Christ."
15sn (1:5) Adoption as his sons (Greek uiJoqesivan, Juioqesian ) is different from spiritual birth as children. All true believers have been born as children of God and will be adopted as sons of God. The adoption is both a future reality, and in some sense, already true. To be adopted as a son means to have the full rights of an heir. Thus, although in the ancient world, only boys could be adopted as sons, in God's family all children--both male and female--are adopted.

God's will from the beginning is the universal salvation of humankind: it is God's will before even the foundation of the world that all are destined in love to be sons of Jesus Christ. This is certainly the Christian message that sets itself apart from ancient Judaism. John Darby in his Synopsis defines God's choosing humankind in the following way:

But there is another thing we have to note here. We are chosen in Him before the foundation of the world. Now this expression is not simply that of the sovereignty of God. If God chose some out of men now, it would be as sovereign as if before the world: but this shews that we belong in the counsels of God to a system set up by Him in Christ before the world existed, which is not of the world when it does exist, and exists after the fashion of this world has passed away. This is a very important aspect of the christian system. Responsibility came in (for man of course) with the creation of Adam in this world. Our place was given us in Christ before the world existed The development of all the characters of this responsibility went on up to the cross and there closed; innocent, a sinner without law, under law, and, when every way guilty, grace-God Himself comes into the world of sinners in goodness and finds hatred for His love. The world stood judged and men lost, and this the individual now learns as to himself. But then redemption was accomplished, and the full purpose and counsel of God in the new creation in Christ risen, the last Adam, was brought out, "the mystery hidden from ages and generations," while the first man's responsibility was being tested. Compare 2 Timothy 1:9-11; Titus 1:2, where this truth is very distinctly  brought out. http://bible.crosswalk.com/Commentaries/DarbysSynopsisofNewTestament/

Allen Turner in his synopsis of Ephesians links, appropriately, God's omniscience, foreknowledge, and predestination:

4. Just as He chose us in Him before the foundation of the world. Before the foundation of the world, that is, in eternity before God created the universe (i.e., while He was “in the heavenly places”), the “God and Father of our Lord Jesus Christ,” elected, selected, picked out, or chose (for this is the meaning of the Greek word eklegomai) “us” in Christ Jesus. This, of course, does not rule out the activities of the Son and Holy Spirit, but it does show that it was the Father who took the lead in the scheme of redemption. The “us” here are the faithful saints of verse 1, including Paul, and, by extension, all who at one time or another are predestined to become faithful saints. Contrary to what some think, the teaching of predestination is a Biblical subject. We will have more to say about this when we look at verse 5, but before we do so, we must learn the purpose of election. That we should be holy and without blame before Him in love. In other words, God, in His infinite wisdom, chose or elected those who would, through Christ, be holy and without blame before Him. This wonderful relationship between Redeemer and the redeemed would be one of mutual love.

5. Having predestined us to adoption as sons by Jesus to Himself, according to the good pleasure of His will. In connection with His having chosen before the foundation of the world those who would, through their relationship with Christ, be holy and blameless before Him, He is said to have predestined or foreordained certain ones (“we”) who would be faithful saints to adoption as sons. But, how did He do this? He did it, the Scriptures tell us, by exercising His omniscience, particularly His foreknowledge (Romans 8:29,30; I Peter 1:2). Furthermore, the death of Jesus involved a similar combination of foreknowledge and predestination (Acts 2:23). Because God foreknew certain free will choices of men like Judas and Pilate, He could predestinate (arrange in advance) the death of Jesus Christ on the cross of Calvary. Thus, we conclude that God foreknows the future, even the contingent free will choices of human beings, and, therefore, can know not just the group of the saved generally (i.e., the corporate body or church), but the specific individuals who make up the church. This choosing and predestinating on God's behalf is not of individuals unconditionally. Instead, God's foreknowledge has permitted Him to select before the foundation of the world those who, of their own free will, would respond to God's grace in a positive way and allow themselves to be “conformed to the image of His Son” (Romans 8:29). In other words, these verses are speaking of the election and predestination of individuals conditioned upon God's foreknowledge of their obedience to the gospel (cf. II Thessalonians 2:13-17).

http://www.allanturner.com/eph_1.html

Turner goes on to point out that God's eternal purpose has been to gather together in one all things in Christ, God's good pleasure from the beginning, to redeem humankind:

9. Having made known to us the mystery of His will. All this wisdom and spiritual insight comes from God's revealing to us the “mystery of His will,” which, according to verse 10, was God's eternal purpose to gather together in one all things in Christ. According to His good pleasure, which He purposed in Himself. In verse 5, we were told that we were predestined “according to the good pleasure” of the Father's will. Again, we learn that in eternity it was the Father's good pleasure to set forth His plan to redeem fallen mankind through His only begotten Son, Jesus Christ.

10. That in the dispensation of the fullness of the times. In the Father's eternal plan, there was a specific period of time when He would send forth His Son, “born of a woman, born under the law, to redeem those who were under the law, that we might receive the adoption of sons” (Galatians 4:4,5). Here, and in verse 10, as in other places, the expression “fullness of times” or “last days” is often applied to the period of Christ's first coming (cf. Hebrews 1:2; I Peter 1:20). All the previous time periods reached their fullness when this dispensation (the Christian era) began. More specifically, ever since the death, burial, resurrection, and coronation of Jesus Christ, this dispensation of the fullness of times has been in effect. It will not end until the Lord returns and has executed judgment (I Corinthians 15:24,25). He might gather together in one all things in Christ, both which are in heaven and which are on earth. The plan was that all things would come under the authority of “the Christ of God.” Consequently, the resurrected Lord said all authority was given Him in heaven and earth (Matthew 28:18). And in Philippians 2:9-11, we learn that Christ Jesus has been given a “name which is above every name, that at the name of Jesus every knee should bow, of those in heaven, and of those on earth, and of those under the earth, and that every tongue should confess that Jesus Christ is Lord, to the glory of God the Father.” —Him. That is, Jesus Christ, King of kings and Lord of lords.

For further study of adoption, one may want to look at reference verses supplied by Nave's Topical Bible:

(Exo.4v22-23)(Num.6v27)(Deut.14v1)(Deut.26v18)

(Deut.27v9)(Deut.28v10)(Deut.32v5-6)(2Sam.7v14)

(1Chr.22v10)(1Chr.28v6)(2Chr.7v14)(Prov.14v26)

(Isa.8vl8)(Isa.43v6-7)(Isa.63v8,16)(Jer.3v19)

(Jer.31v9)(Jer.31v20)(Hos.1v9)(Hos.11v1)

(Matt.5v9)(Matt.5v45)(Matt.13v43)(Lk.6v35)

(Jn.1v12-13)(Jn.11v52)(Ac.15v17)(Rom.8v14-19)

(Rom.8v21,29)(Rom.9v8)(Rom.9v26)(2Cor.6v17)

(Gal.3v26,29)(Gal.4v5-7)(Eph.1v5)(Eph.2v19)

The Oxford Companion summarizes the first part of Ephesians one in the following way:

(a)1.3-14: God's love has been poured out as an abundant blessing; to through grace and forgiveness Jews and gentiles now praise God's glory (1.6, 12, 14). (b)1.15-23: Thanksgiving and intercession for the congregation issue in praise of God's power, which has raised Jesus Christ from death and made him the head over all things, especially over the church. 185

Prayer for Wisdom and Revelation

The writer concludes Ephesians 1 by a prayer for the spirit of wisdom and revelation in the knowledge of God, that the eyes of understanding would be enlightened, that the Ephesian believers might know the hope of God's calling, the exceeding greatness of God's power in Christ, raised from the dead, set in heavenly places above all principality, power, might, and dominion; God's eternal purpose is that every name and all things will be put under his feet and that Christ will be head over all things to the church:

Eph 1:15 Wherefore I also, after I heard of your faith in the Lord Jesus, and love unto all the saints,

Eph 1:16 Cease not to give thanks for you, making mention of you in my prayers;

Eph 1:17 That the God of our Lord Jesus Christ, the Father of glory, may give unto you the spirit of wisdom and revelation in the knowledge of him:

Eph 1:18 The eyes of your understanding being enlightened; that ye may know what is the hope of his calling, and what the riches of the glory of his inheritance in the saints,

Eph 1:19 And what is the exceeding greatness of his power to us-ward who believe, according to the working of his mighty power,

Eph 1:20 Which he wrought in Christ, when he raised him from the dead, and set him at his own right hand in the heavenly places,

Eph 1:21 Far above all principality, and power, and might, and dominion, and every name that is named, not only in this world, but also in that which is to come:

Eph 1:22 And hath put all things under his feet, and gave him to be the head over all things to the church,

Allen Turner points out that everything is under the ultimate authority and control of Christ:

22. And He put all things under His feet, and gave Him to be head over all things to the church. “All things” (i.e., everything) is under the ultimate authority and control of Christ. Therefore, it should not surprise us that Christ is also head over all things to the church, the called out body of the redeemed, “which He purchased with His own blood” (Acts 20:28). This body receives its instructions, its life, and its strength from Jesus Christ.

Eph 1:23 Which is his body, the fulness of him that filleth all in all.