sheer drapes divide a sleeping space- This may be an option to hang the curtains with wire if your room doesn't allow a rod.
Stylehouse: Break It Up & Zone It Down
Living Savvy: 03.2011
SANITY FAIR: The Economic Apartment
Spectacular Studio Apartments- I envision the bed is behind the curtain and the couch, that way you can watch tv from bed, or close it off to entertain.