One simplistic approach to measuring the "elapsed time" between events is to just grab the current date and time.
In SQL Server Management Studio
SELECT GETDATE();
SELECT /* query one */ 1 ;
SELECT GETDATE();
SELECT /* query two */ 2 ;
SELECT GETDATE();
To calculate elapsed times, you could grab those date values into variables, and use the DATEDIFF function:
DECLARE @t1 DATETIME;
DECLARE @t2 DATETIME;
SET @t1 = GETDATE();
SELECT /* query one */ 1 ;
SET @t2 = GETDATE();
SELECT DATEDIFF(millisecond,@t1,@t2) AS elapsed_ms;
SET @t1 = GETDATE();
SELECT /* query two */ 2 ;
SET @t2 = GETDATE();
SELECT DATEDIFF(millisecond,@t1,@t2) AS elapsed_ms;
That's just one approach. You can also get elapsed times for queries using SQL Profiler.