Heat the olive oil in a medium to large Dutch oven or flameproof casserole dish. Add the lamb to a medium bowl and toss with the flour. Add the flour-coated lamb to the hot oil and cook until browned on all sides (a few minutes). Remove the meat from the pan and set it aside. Add the carrots and onions to the pan- stir and cook for a few minutes, seasoning to taste with salt and pepper. Return the meat to the pot, add the broth and bring to a boil. Add the potatoes and season again with salt and pepper. Place thyme sprigs on top.
Cover and bake in the oven for 1½ to 2 hours, until the meat is very tender. Add chopped herbs and serve.
Notes
Lamb options: Use lamb stew meat (already chopped). Or cut up lamb shoulder and use that.