Oh lord, only $200.... Let's see what I can do...
CPU: AMD A6-3500 Llano 2.1GHz ($69)
Comes w/ integrated GPU
Mobo: BIOSTAR A55MLV ($54)
Case: XION XON-180 ($34)
HDD: Western Digital Blue 500GB ($69)
PSU: COOLER MASTER Elite 460 (24.99 w/ rebate)
RAM: G.SKILL 4GB ($19)
This is the BARE minimum, not including OS, or anything else. And this build is butt. You'd be 100% better off to save some money spend it on much better parts.