Is there a shot or an i.V. Involved when doing an echocardiography?

NO I.V. w/ ECHO. If you are just getting an echocardiogram, then no I.V. (or shot) is needed. So don't worry. But, if you are getting a stress echo it is possible you may get an I.V. To induce 'stress' if you unable to 'run on a treadmill'. This second test is more specialized looking for possible coronary artery (heart) disease.
Not usually. For a regular echocardiogram you should normally not need an iv. However, if your images are difficult to get due to your body type, the sonographer may use agitated 'contrast' bubbles (definity or optison) to get better images. These are given in an iv, and are fairly safe for you.