Abstract: Assessing the economic impact of climate change (EICC), with a focus on the cost of carbon dioxide (CO₂) emission reduction and the balancing of reduction benefits, presents a challenging problem. This article investigates the current state of research on the EICC, identifies its concept, offers the classification of EICC, summarizes the current research on models for assessing EICC, and provides an outlook on future trends of EICC. It aims to offer insights and references for the enhancement of the EICC assessment system.