Academic ("professional") journals offer detailed expertise by specialists in the field, many of whom spend most of their academic careers conducting research and presenting papers and are therefore often on the "cutting edge" of the latest theories and discussions in the profession. While textbooks are often published and distributed years after the final manuscripts have been submitted to the publisher, academic journals give students a more current view of the state of research. The Economic Journal, published by the Royal Economic Society in the U.K., is one of the most prestigious journals in the field and prides itself on offering the most "current thinking in economics."
Scholarly journals in economics--as in most academic disciplines--are "peer-reviewed," meaning that all submissions are vetted by a panel of editors with research and subject expertise in economics and who will review the findings and theories put forth by the submission authors to ensure that the quality of the journal's scholarship is maintained. The Cambridge Journal of Economics, for example, has an extensive list of editors on its board hailing from institutions in Europe, Asia, the Middle East, and the United States.
Professional economics journals, although often highly technical in nature, allow students to see for themselves how the basic concepts they learn in class--from macroeconomics to microeconomics--are applied on a daily basis by renowned economists. Labor economics is one specialty that many students may find complex but at the same time highly familiar. An article published in the Economic Journal, for example, analyzed the relationship between part-time work and happiness in the home.
Graduate students in economics who wish to pursue doctoral research benefit tremendously from being exposed to professional journals as often and as early as possible. Aside from the opportunities to remain abreast of current issues and discussions in the field, journals also provide them with examples on how to conduct economics research, from compiling data to analyzing the literature to developing formulas. Publishing in peer-reviewed journals remains a critical part of achieving tenure and establishing one's reputation in academe, and learning how journals work and edit submitted articles is imperative for future scholars and educators.