Hi Michael,

If you wanted to do this through the API then you would use the 
CampaignService:

  
http://code.google.com/apis/adwords/docs/reference/latest/CampaignService.html

However, there is a new feature in the AdWords web interface that allows you 
to set up automatic rules that can pause and result campaigns without any 
programming:

  http://adwords.blogspot.com/2010/12/adwords-rules-and-so-can-you.html

Best,
- Eric Koleda, AdWords API Team

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