In 12-inch skillet, cook beef over medium- high heat 5 to 7 minutes, stirring occasionally, until thoroughly cooked; drain.
Stir in salsa, tomato sauce and water. Heat to boiling. Stir in macaroni and corn. Reduce heat. Cover; simmer 12 to 15 minutes, stirring occasionally, until macaroni is tender.
Sprinkle with cheese. Remove from heat; let stand covered 1 to 2 minutes or until cheese is melted.