Heat olive oil in a large pot or Dutch oven over medium-high heat. Add ground beef and cook, breaking it up with a spoon, until browned. Drain off any excess grease.
Add diced onion and minced garlic to the pot and cook until softened, about 3-5 minutes.
Stir in all-purpose flour until the meat and vegetables are coated. Cook for 1 minute.
Pour in beef broth and diced tomatoes. Stir to combine and scrape up any browned bits from the bottom of the pot.
Add cubed potatoes, sliced carrots, dried thyme, salt, and pepper to the pot. Bring to a boil, then reduce heat and simmer for 25-30 minutes, or until the potatoes and carrots are tender.
Stir in frozen peas during the last 5 minutes of cooking time. Cook until heated through.