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I think at least for undergrad studies there a lot of non-useful math out there. Can't really say about grad studies although.
It depends a little on the field. A eminent Brazilian economist, J.A Sheickmann, who's now professor at Princeton always say in interviews that many of his recent ideas appeared after sharing thought with physicians, since he works with complex systems.
I really can't say a thing about his research since it's too advanced for me, but it clearly shows that very advanced math is necessary at some points depending on the field you are in.
Since grad economics is often much more advanced than undergrad econ, I prefer to believe that is really necessary since ever each program gives a lot of value to math, sometimes more than they give to econ studies before grad school.
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