Toss the beef cubes with 1 tablespoon of vegetable oil. In a separate bowl, stir together the flour, salt, pepper, and cayenne pepper. Dredge the beef in this to coat.
Heat the remaining oil in a deep skillet or Dutch oven over medium-high heat. Add the beef, and brown on all sides. Add the onions, and garlic. Stir the tomato paste into a small amount of water to dilute; pour into the pan and stir to blend. Reduce the heat to medium, cover, and cook for 5 minutes.
Pour 1/2 cup of the beer into the pan, and as it begins to boil, scrape any bits of food from the bottom of the pan with a wooden spoon. This adds a lot of flavor to the broth. Pour in the rest of the beer, and add the carrots and thyme. Cover, reduce heat to low, and simmer for 2 to 3 hours, stirring occasionally. Taste and adjust seasoning before serving. Garnish with chopped parsley.