Heat olive oil in a large skillet or Dutch oven over medium-high heat. Add the ground beef and chopped onion. Cook, breaking up the beef with a spoon, until the beef is browned and the onion is soft, about 5-7 minutes. Drain off any excess grease.

Stir in the minced garlic and cook for 1 more minute until fragrant.

Sprinkle the flour, smoked paprika, garlic powder, onion powder, salt, and pepper over the beef. Stir well to coat everything and cook for 1 minute to toast the spices and cook out the raw flour taste.

Stir in the tomato paste until combined, then gradually whisk in the beef broth and milk. Scrape up any browned bits from the bottom of the pan.

Bring the liquid to a gentle simmer, then stir in the uncooked elbow macaroni.

Reduce the heat to medium-low, cover the skillet, and let it simmer for 10-12 minutes, or until the pasta is tender and has absorbed most of the liquid. Stir occasionally to prevent the pasta from sticking to the bottom.

Once the pasta is cooked, remove the skillet from the heat. Gradually stir in the shredded cheddar cheese until it's completely melted and the sauce is creamy and smooth.

Let the dish rest, uncovered, for 5 minutes before serving. The sauce will thicken as it cools. Garnish with fresh parsley if desired.