Monogenes
16. For God so loved the world, that he gave his only begotten (monogenes) Son, that whosoever believeth in him should not perish, but have everlasting life.
Modern Christian theology advocates that the term “only begotten” is an incorrect translation. Numerous modern translations of the Bible omit the word “begotten”. Instead, the translations read, “one and only Son”, or "unique". We will let the Bible be its own interpreter, its own dictionary. The Greek word for “only begotten” is the word ‘monogenes’. This word is only used nine times in the Greek New Testament; referring five times to Jesus as “only begotten” of the Father and four times to other people. Every time the word “monogenes” doesn’t refer to Jesus, it is used in its obvious meaning: as one true and literal begotten child.
The widow's son
12. Now when he came nigh to the gate of the city, behold, there was a dead man carried out, the only son (monogenes) of his mother, and she was a widow...
The text emphasizes the socioeconomic circumstances of this unfortunate widow. Men were those who provided for the family. This woman was without her husband and now without her son—her monogenes son. There is no doubt that this child was her only begotten son.
Jairus' daughter
41. And, behold, there came a man named Jairus, and he was a ruler of the synagogue: and he fell down at Jesus’ feet, and besought him that he would come into his house:
42. For he had one only (monogenes) daughter, about twelve years of age, and she lay a dying. But as he went the people thronged him.
Jairus' daughter was truly his begotten and only daughter. There is no doubt.
The father of a possessed son
38. And, behold, a man of the company cried out, saying, Master, I beseech thee, look upon my son: for he is mine only child (monogenes).
The son of this man was his true son and child. The Bible uses the word 'monogenes' in its obvious meaning. In all of the examples given, we are left with no doubt that these children were only begotten children of their parents. The fourth example, below, is perhaps the most important one because it is a picture of Christ.
Isaac
17. By faith Abraham, when he was tried, offered up Isaac: and he that had received the promises offered up his only begotten (monogenes) son,
Isaac was a promised child. He was literally and truly Abraham’s son. Now some people are trying downplay the 'monogenes' in terms of 'only', since we know that Isaac was not the only child of Abraham. But at that point in time, Ishmael was out of question.
“God had promised Abraham that in his old age he should have a son, and this promise had been fulfilled. But now God says: ‘Take now thy son, . . . and offer him there for a burnt-offering.’ God left Ishmael out of the question saying,’ ‘Thine only son Isaac’." {EGW, YI June 6, 1901, par. 3; 1901}
When God asked Abraham to give his only son Isaac, it was the lesson for us that God will provide the way of redemption through His only begotten Son, Jesus Christ. If the image was a literal son, why wouldn’t the Reality also be accepted literally? Jesus Christ is the only begotten Son of our God.
As the Bible is its own interpreter and its own dictionary, Christ referenced as monogenes testifies of the true Sonship of our Lord Jesus Christ and puts the highest emphasis on the sacrifice that the Father has made.
Own Begotten Son
God had given us His "own begotten" Son!
“Christ impresses upon the mind of believers the fact that they are to have the glory which the Father has given Him, in order that all who love and serve him may be one with God. [quoted John 17:8,22,23] What a request! He asked not that which was impossible for the members of the human race who believe on Him to receive. He asks that the Father shall love those who believe in Him, who love and serve Him as He loves His Son. Is this not sufficient to fill our minds with profoundest awe and love? Where is our faith? O, let it be strengthened in contemplation of the thought of the possibility of God loving finite men, even as He loves His own begotten Son. Let our faith be strengthened in contemplating the thought that as followers of Christ we may be complete in Him. O how far short is our faith! Let us talk faith, live faith, and give to the world an example of the faith which works by love and purifieth the soul.” {EGW, Lt13-1894.18; 1894}
If Jesus is truly begotten how is He eternal? See The Beginning Problem