Heat the vegetable oil in a large pot over medium-high heat. Brown the beef chunks for about 5 minutes until nicely seared. Add the chopped onion and minced garlic; sauté until fragrant, about 3 minutes. Incorporate the carrots and potatoes, stirring well. Pour in the beef broth and add dried thyme, paprika, salt, and pepper. Bring to a boil, then reduce heat to low, cover, and simmer for about 1 hour until the meat is tender and the vegetables are cooked through. Adjust seasoning if necessary. Serve hot, garnished with chopped parsley if desired.