No, for electives you can (usually) take whatever you want.
http://registrar.mcmaster.ca /CALEN...nt/pg1679.html
You have 24 units that must be economics, but within that restriction they can be almost anything...so these are sort of quasi-electives.
Then, you have 36 units that can be whatever you want, BUT at least 6 units must be humanities/religious studies courses.