Heat oil in a large skillet over medium heat. Saute onions until translucent. Add green pepper and cook until soft. Add ground round and brown (make sure meat is thoroughly cooked). Add tomato soup and water, stirring to combine.
When mixture starts to bubble, reduce heat to low and add corn; cover and cook until heated through or until done (if using frozen corn). Stir in noodles, and cook about 5 more minutes. Top with shredded cheese.
Remove from heat, and cover for about 5 minutes, or until cheese begins to melt.