A decent graphics card: Galaxy Geforce GT 640. It's budget but it's really worth it.
CPU wise, a good but well rounded budget one is a Intel Core i5 3570K Unlocked 4-Core which you can overclock as well as a Intel Core i7 3770K Unlocked 4-core (I have this<<) is great! But slightly expensive... Both of these include stock heatsink and thermal solution already on the fan so you save money there and it is a decent fan.
Just get like a 1TB WD Hardrive, no real need for a SSD if your looking for a budget PC.
RAM wise I'd suggest 8gb memory is teriffic. I don't know if you have a Kingston brand from where you come from but they are a great budget memory manufacturer.
This would fit nicely on a Gigabyte GA-B75M-D3 is perfect. In future you can expand up 32GB of ram!!!!
This is my optical drive: LG GH24NS90.AYBU10B 24x Internal SATA OEM DVD Burner Drive
It's bloody terrific!
Power Supply: Antec HCG-750 750W. Yes it is expensive! But 100% worth it. I have it and for me it's totally and utterlly reliable.
Run a windows home premium 64 bit system (don't really need pro or ultimate and if one of your mate's has one, you can just borrow it).
Case: Antec SOLO II Black Mid ATX Tower Case. Expensive, heavy but reliable.
I reckon all up this system should be around $650-$700 in Australia but it should be cheaper where ever you are as Sydney is currently the most expensive city in the world. I'd think it should set you back about $550? Just taking a guess.
Good luck!