It depends what you mean by “Time Track” if you mean Tempo or Signature changes then you indeed need to open the Tempo Track from the Project menu as Giovanni says. It’s not nearly as convenient as it is in Cubase Pro but does the job in most cases.
Svennilenni is mistaken, as I said before, open the Tempo Track from the Project Menu. A separate window opens in which you can add Tempo and Signature changes as per attached screen grab from Elements 9.
Then I stand corrected and svenileni was correct. If you want exactly the same thing you’ll have to stay with Cubase 5. if you upgrade to 9 Pro you’ll get a similar ability to five but with Elements you’ll have to do as Giovanni and I suggested and open the Tempo editor window.