Below is the outline of  the teaching by Dr. Wayne Grudem on union  with Christ. At the end of the outline is the link to the mp3 audio file of the teaching. Enjoy--good discussion!

Definition: Union with Christ is a phrase used to summarize several different relationships between believers and Christ,through which Christians receive every benefit of salvation.

A. We are In Christ

1. In God's Eternal Plan [Eph. 1:4, 2 Tim. 1:8-9,

2. During Christ's Life on Earth [Rom. 5:19, 2 Cor. 5:21, Gal. 2:20, Eph. 2:6]

3. During Our Lives Now

a. Dying and Rising With Christ [Col. 2:12, Rom 6:4, 11]

b. New Life in Christ [1 John 5:11, Eph. 1:3]--Every stage of the application of redemption is given to us because we are "in Christ." It is "in Christ"that we are called to salvation (1 Cor. 7:22), regenerated (Eph. 1:3, 2:10), and justified (Rom. 8:1). "In Christ" we die (1 Thess. 4:16) and "in him" our bodies will be raise up again (1 Cor. 15:22). These  passages suggest that because our lives are inseparably connected to Christ himself, the Holy Spirit  gives us all the blessings that Christ has earned.

c. All Our Actions Can Be Done in Christ [Rom. 9:1, Rom. 15:17,Eph 6:10, Phil 2:1, 1 Thess. 3:8, 2 Tim. 3:12, Rom. 16:12]

d. All Christians Together Are One Body in Christ [1 Cor. 12:12, 26;1 Peter 2:4-5, John 17:21]

B. Christ Is in Us [Gal. 2:20, Col. 1:27, 1 John 3:24, Rom. 8:9-10]

C. We Are Like Christ

1. We Imitate Christ [1 Cor. 11:1, Rom. 15:7, Col. 3:13]

2. We Become Like Christ [2 Cor. 3:18]

D. We Are With Christ

1. Personal Fellowship With Christ [Matt. 28:20, 1 Cor. 1:9]

2. Union With the Father and With the Holy Spirit [John 17:21, Rom. 8:9,John 14:23, Eph. 4:32, Gal. 5:22-23, John 16:13, Matt. 6:9, Acts 15:28,2 Cor. 13:14]

The mp3 filepath--

http://scottsdalebible.com/assets/audio/christian-essentials/20080622WGrudem.mp3