Silicon photonic-based optical interconnects have emerged as the enabler for the continual scaling of high-data transfer rates required for emerging computing applications. Transceivers employing multilevel modulation promise a pathway towards realizing the future Terabit Ethernet standards. This tutorial brief overviews SiP modulator devices, and circuit design techniques for hybrid CMOS-photonic transceivers focusing on compact microring modulator transmitters and inverter-based linear receivers in scaled CMOS technologies.