Preheat oven to 350 degree F. In a large pot cook macaroni according to package directions; drain. Return to pot.
Add milk, melted butter, pepper, and salt. Stir in cheeses. Transfer to a greased 2-quart casserole.
Bake, uncovered, for 15 minutes. Carefully stir mixture. Sprinkle with crushed crackers. Bake 5 minutes more or until crackers are browned and mixture is just heated through (dont overheat or mixture will curdle). Let stand 10 minutes before serving. Makes 8 to 10 side-dish servings.