  We study the birational geometry of $\bar{M}_{3,1}$ and $\bar{M}_{4,1}$. In
particular, we pose a pointed analogue of the Slope Conjecture and prove it in
these low-genus cases. Using variation of GIT, we construct birational
contractions of these spaces in which certain divisors of interest -- the
pointed Brill-Noether divisors -- are contracted. As a consequence, we see that
these pointed Brill-Noether divisors generate extremal rays of the effective
cones for these spaces.
