An integrated circuit (and optical transceiver module) includes an optoelectronic thyristor device formed within a resonant cavity on a substrate, and circuitry integrally formed on the substrate that dynamically switches the thyristor between a transmit mode configuration and a receive mode configuration. In the transmit mode configuration, the thyristor is modulated between a non-lasing state and a lasing state in accordance with an input digital electrical signal. In the receive mode configuration, the thyristor device is modulated between a non-lasing OFF state and a non-lasing ON state in accordance with an input digital optical signal that is injected into the resonant cavity to thereby produce an output digital electrical data signal that corresponds to the input digital optical signal. The integrated circuit (and optical transceiver module) can be used in optical fiber applications as well as free-space applications.