We present and test an instance model of associative learning. The model, Minerva-AL, treats associative learning as cued recall. Memory preserves the events of individual trials in separate traces. A probe presented to memory contacts all traces in parallel and retrieves a weighted sum of the traces, a structure called the echo. Learning of a cue-outcome relationship is measured by the cue's ability to retrieve a target outcome. The theory predicts a number of associative learning phenomena, including acquisition, extinction, reacquisition, conditioned inhibition, external inhibition, latent inhibition, discrimination, generalization, blocking, overshadowing, overexpectation, superconditioning, recovery from blocking, recovery from overshadowing, recovery from overexpectation, backward blocking, backward conditioned inhibition, and second-order retrospective revaluation. We argue that associative learning is consistent with an instance-based approach to learning and memory.