Heat the olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Add the onion and cook until it begins to soften, about 5 minutes.

Add the ground beef to the pot and sauté until it is browned, breaking the meat apart with a spoon as it cooks. Add the garlic and cook for another minute until fragrant. Drain any excess grease.

Add the chili powder, cumin, smoked chipotle powder, salt, and ground black pepper to the pot. Cook for about 1 minute, stirring constantly, until the spices are fragrant. This step toasts the spices, deepening their flavor.

Pour in the beef broth, tomato sauce, and undrained diced tomatoes and green chilies, as well as the rinsed and drained beans, if using. Mix well, scraping the bottom of the pot to lift any flavorful browned bits. Bring to a steady simmer.

Add the uncooked elbow macaroni and stir, ensuring the pasta is submerged in the liquid. Reduce the heat to medium low. Cover the pot and simmer until the pasta is al dente, about 10 to 15 minutes. Stir occasionally to prevent the pasta from sticking to the bottom of the pot. The sauce will thicken as the pasta releases its starches.

Turn off the heat and uncover the pot. Add the shredded cheese. Stir until the cheese is completely melted and the sauce is creamy and smooth.