Preheat oven to 325 degrees F.
Season lamb with salt and pepper and set aside.
Preheat olive oil in an ovenproof dutch oven over medium-high heat. Add carrots and onions and saute until almost tender and they start to get golden brown (caramelized).
Add flour and stir for 2 minutes. Add the stock and stir. Bring to a simmer then turn off.
Add lamb stew meat, potatoes, and thyme to the pot.
Cover with a tight lid and braise in the oven until the lamb and potatoes are tender about 2 to 2½ hours.
Adjust salt and pepper if needed and garnish with fresh parsley.
