Preheat your oven to 425 degrees F. Line a rimmed baking sheet with foil and lightly spray it with nonstick cooking spray.
Place the carrots on the baking sheet and toss them with 2 tablespoons of olive oil until evenly coated. Spread them out in a single layer without overlapping. Bake for 20 minutes.
While the carrots are baking, whisk together 3 tablespoons balsamic vinegar, 2 tablespoons olive oil, 1 tablespoon honey, and all the seasonings in a small bowl.
After 20 minutes, take the carrots out of the oven. Pour the sauce over them and toss until they are well coated. Spread them back into an even layer.
Return the carrots to the oven and bake for another 15 to 25 minutes, until they are tender. Cooking time can vary depending on the size and freshness of the carrots.
Remove from the oven. In a small bowl, whisk together the remaining 1 tablespoon balsamic vinegar and 1 tablespoon honey. Pour this over the carrots and gently stir to coat.
Taste and add a little more honey if you prefer them sweeter. Season with extra salt and pepper if needed. Serve warm.