There isn't a simple "Select" tool. There are several "Selection" tools such as Rectangular Marquee, Lasso, and Magic Wand.
Perhaps you mean the Move tool. This has an option to select top most layer you click on (called "Auto Select Layer"). This tool and this option are both still available in PSE11. You can use the "v" key to select the moVe tool ("m" was taken by the marquee tool), and the layer selection option is on by default (you can change such options in the Tools Options panel at the bottom, click the button it is not currently showing).
I guess you are in Quick Edit mode which has a limited number of tools. Click the expert button and move to expert mode. There you will see a selection tool category. In this category you will find all selections tool. But make sure that the tools are nested. For eg Quick Selection tool is nested with Magic Wand tool and Selection Brush tool. When you select a tool from the tool box , all the nested tool will be visible below in the tools option bar. Do reply back if you have any questions.