Preheat the oven to 325° F.
Cut the beef into 2" chunks and season it generously with salt and pepper.
Heat 1 tablespoon of olive oil over medium-high heat in a large oven-proof skillet or braising pan with a lid.
Place the beef into the hot skillet and sear until brown on all sides.
Remove the beef to a plate and set it aside.
To the skillet add the diced onion, and carrots and cook until tender, about 6-7 minutes. Season with salt and pepper to taste.
Add the minced garlic and thyme. Cook until the vegetables are tender - about 4 minutes. Add the tomato paste and stir to combine. Add the red wine and deglaze the pan by scraping up all the brown bits. Cook for 1-2 minutes.
Add the crushed tomatoes, sugar, and 1 cup of beef broth to the skillet. Stir and simmer for a few minutes until combined.
Add 2 bay leaves and 2 cinnamon sticks along with the seared beef to the pan. Cover and braise for 2 hours at 325 degrees.
Add the orzo and 1 ½ cups of broth to the skillet and stir. Place the braising pan back into the oven for 35 minutes.
Top with chopped parsley and serve with grated parmesan cheese.