einstein1921,
the relation
<br />
\mathbf j = \rho \mathbf v<br />
was introduced already in continuum mechanics (Eulerian description). It gives amount of mass that will flow through a small planar surface of area \Delta S and perpendicular to unit vector \mathbf n after time interval \Delta t:
<br />
amount~of~mass = \mathbf j \cdot (\Delta S \mathbf n) \Delta t<br />
Have a look into beginning chapters of some textbook on hydrodynamics, they explain this in greater length.
The mass density \rho and current density \mathbf j satisfy the equation of continuity
<br />
\partial_t \rho + \nabla \cdot \mathbf j = 0.<br />
It turns out that Schroedinger's equation for one particle allows similar current density \mathbf f to be defined, with the difference that now it gives the "amount of probability that flows through small area in unit time" in space, instead of giving directly amount of mass.
In theory based on Schroedinger's equation, the equation of continuity (of "probability flow") is
<br />
\partial_t (\psi^*\psi) + \nabla \cdot \mathbf f = 0,<br />
where \mathbf f is a triple of numbers given by
<br />
\mathbf f = Re \{\frac{1}{m} \psi^* \hat{\boldsymbol \pi} \psi \}.<br />
Here \hat{\boldsymbol \pi} = \hat{\mathbf p} - \frac{q}{c}\mathbf A(\mathbf r) is operator of kinetic momentum (mv) of the particle. All this can be derived from Schroedinger's equation.
We can even retain the same formula for current density as in continuum mechanics
<br />
\mathbf f = \rho \mathbf v,<br />
provided we define
<br />
\rho = \psi^*\psi,<br />
<br />
\mathbf v = \frac{Re\{ \frac{1}{m} \psi^* \hat{\boldsymbol \pi} \psi \}}{\rho}.<br />