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I think you download it into the same files where you are keeping your projects, hmmm, I think. Then to use it you need to write the import into the project at the start. I'm not 100%, I hope someone can confirm or deny...
You'll need to download the libraries (most likely will be a .jar file) then right click on the project you want the libraries to be loaded in and click on properties. In properties go to the Java Build Path link and the Libraries tab and click on add external JARs then find the ACM jar and add it. (If it's not a JAR try the Add library button instead). Hope that helps :-)
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If this is for Stanford's Programming Methodology course, if you use the Eclipse package downloaded from http://see.stanford.edu , I don't remember having to do anything special to, save normal java import statements.