We calculate multi-instanton effects in a three-dimensional gauge theo
ry with N = 8 supersymmetry and gauge group SU(2). The k-instanton con
tribution to an eight-fermion correlator is found to be proportional t
o the Gauss-Bonnet-Chem integral of the Gaussian curvature over the ce
ntered moduli space of charge-k BPS monopoles, (M) over tilde(k). For
k = 2 the integral can be evaluated using the explicit metric on (M) o
ver tilde(2) found by Atiyah and Hitchin. In this case the integral is
equal to the Euler character of the manifold. More generally the inte
gral is the volume contribution to the index of the Euler operator on
(M) over tilde(k), which may differ from the Euler character by a boun
dary term. We conjecture that the boundary terms vanish and evaluate t
he multi-instanton contributions using recent results for the cohomolo
gy of (M) over tilde(k). We comment briefly on the implications of our
result for a recently proposed test of M(atrix) theory. (C) 1997 Else
vier Science B.V.