Guru Gobind Singh Indraprastha University Eligibility

Eligibility for MA hons in economics in IP University is as follows:
The candidate must have secured an aggregate of 50% in the Bachelor's program of economics or equivalent, from a recognized university or college.
The age eligibility is that it must not be more than 35 years.

You need to appear for IPU_CET which is carried out by GGSIPU and the rank in this exam determines which college you get. Your JEE scores won't matter.
Good luck.

Admission in IPU is done on the basis of a separate exam IPU-CET conducted by GGSIPU.
For eligibility criteria visit: http://www.ipu.ac.in/pubinfo/admission2018/adm2018main/ADMBRO2018A_190218.pdf.

I advice you to please go through the official website for eligibility criteria.
http://www.ipu.ac.in/pubinfo/admission2018/adm2018main/ADMBRO2018A_190218.pdf
Follow the brochure.

The eligibility score for admission in B.Ed. programme is at least 50% marks (i.e. aggregate of total marks in all subjects offered by the candidate) either in the Bachelors degree and/or in the Masters Degree in Science/Social Science/Humanities/Commerce, or Bachelors in Engineering or Technology with specialization in Science and Mathematics with 55% marks, or any other qualification equivalent thereto.
So I think you are eligible.

You can try via management quota to get admission in colleges affiliated to IPU.

https://googleweblight.com/i?u=https://www.shiksha.com/b-tech/resources/ggsipu-college-predictor&grqid=RUxhNhC3&s=1&hl=en-IN
Here is the college predictor link where you will get the idea which college you will get. Good luck.

Qualification
NATA
Age
Maximum 21 years
Other eligibility criteria
Candidate must have passed 10+2 with Mathematics as a subject
OR
10+3 Diploma (any stream) recognized by Central/ State Governments
OR
International Baccalaureate Diplomas, after 10 years of schooling, and with Mathematics as compulsory subject of examination