Preheat oven 350°. Heat oil in large oven-proof saucepot over medium-high heat and brown beef. Remove beef and set aside.
Reduce heat to medium and cook onions, stirring frequently, 8 minutes. Stir in garlic and thyme and cook 1 minute. Stir in wine, Knorr® Homestyle Stock - Beef and 1 cup water until Stock is melted. Return beef to saucepot. Bake covered 2 hours. Stir in carrots and bake an additional 30 minutes or until beef and carrots are tender. Remove beef and carrots to serving platter and keep warm.
To make gravy, combine 2 tablespoons all-purpose flour with remaining 1/3 cup water in small bowl. Stir into sauce with wire whisk and bring to a boil over high heat. Reduce heat to medium and cook, stirring constantly, until thickened, about 5 minutes.