Heat olive oil in a skillet over medium heat. Add beef; cook until evenly browned, 3 to 5 minutes per side.
Place potatoes, carrots, onion, and garlic in a slow cooker; top with browned beef.
Pour 1/4 cup beer into the same skillet and bring to a boil while scraping the browned bits of beef off of the bottom of the skillet with a wooden spoon. Stir in tomato paste; cook until thickened, about 5 minutes. Pour beer mixture into slow cooker.
Pour beef broth, remaining beer, garlic powder, onion powder, paprika, salt, and pepper into slow cooker.
Cook on Low for 8 hours.
Stew can alternately be cooked on High until potatoes and carrots are easily pierced with a fork, 3 to 4 hours.
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