Ephesus was a very important city in the Roman Empire and it was very cosmopolitan. People from across the empire came there. When Paul wrote his epistle to the church(es) there, he offered a cosmopolitan greeting - grace and peace. Grace was common greeting to the larger population, peace (shalom) was a very common greeting to the Jews. But Paul said that both come only "from God the Father and the Lord Jesus Christ." He is also implying that we can't have either without God and Jesus.
This sermon helps us understand the biblical meaning of both grace and peace, it show what difference they make in our lives, and offers three actions steps to take.