DISPENSATIONALISM
A definition:
"Dispensationalism is an interpretive or narrative framework for understanding the overall flow of the Bible, and is frequently contrasted with an opposing interpretation: supersessionism (also referred to as Covenant Theology, see also New Covenant (theology)). In simple terms, supersessionism teaches that the Christian Church has been established for the salvation of "the Jews first, and also to the Gentiles", and that there is one people of God joined in unity through Jesus Christ. Since the Jews have largely refused to accept Christ - "the Messiah of Israel" - and he is their means to salvation, those individual Jews that reject Him - that is, reject the merits of his atoning sacrifice for sins - in effect reject the only provision God has offered for divine forgiveness, and are therefore damned. In contrast, dispensationalism teaches that the Christian Church is a "parenthesis" in God's dealings with the Jews, when the Gospel began to go to the Gentiles instead of the Jews, but that God's continued favor of the Jews will be revealed after the Church Age (or Dispensation), when the Jews will be restored to their land and will own Jesus as their Messiah. Hence, dispensationalists typically believe in a Jewish restoration."
(Source: http://en.wikipedia.org/wiki/Dispensationalism)
Additional Links:
www.christinyou.net/pages/dthcthchth.html
www.middletownbiblechurch.org/dispen/dispensa.htm
www.angelfire.com/nt/theology/dispens.html