Heat a 12 inch skillet over medium heat. Add the beef and cook it until browned. Drain fat and set aside.
Wipe out the skillet, add the oil, and heat over medium heat. Add the onions and garlic and cook until tender.
Return the beef to the skillet and add the basil, oregano, canned tomatoes, chili powder and 1 cups of water. Season with salt and pepper to taste. Increase the heat to high and let come to a simmer. Add the elbow macaroni, stir and cover the skillet. Reduce heat to medium and let simmer, stirring occasionally, until the macaroni is tender and most of the liquid is gone, about 8 minutes.
Sprinkle cheese on top, then cover the skillet and cook util cheese is melted, about 60 seconds.