Preheat oven to 350 degrees F. Cook macaroni per pkg. directions. Drain and set aside. Mix milk, salt, pepper and eggs together in a small bowl. In another bowl, mix margarine and noodles.
In a 6x9 casserole dish, layer 1/2 of noodles and 1/2 of cheese. Salt and pepper to taste. Repeat with remainder of noodles and cheese. Pour the egg and milk mixture over the layers of noodles and cheese.
Bake in oven for about 30-40 minutes or until mixture is bubbling and cheese is lightly browned. Let stand 5-7 minutes before serving.