Serotonergic, noradrenergic and dopaminergic brainstem (including midbrain) neurons, often exhibit spontaneous and fairly regular spiking with frequencies of order a few Hz, though dopaminergic and noradrenergic neurons only exhibit such pacemakertype activity in vitro or in vivo under special conditions. A large number of ion channel types contribute to such spiking so that detailed modeling of spike generation leads to the requirement of solving very large systems of differential equations. It is useful to have simplified mathematical models of spiking in such neurons so that, for example, features of inputs and output spike trains can be incorporated including stochastic effects for possible use in network models. In this article we investigate a simple two-component conductance-based model of the Hodgkin-Huxley type. Solutions are computed numerically and with suitably chosen parameters mimic features of pacemaker-type spiking in the above types of neurons. The effects of varying parameters is investigated in detail, it being found that there is extreme sensitivity to eight of them. Transitions from non-spiking to spiking are examined for two of these, the half-activation potential for an activation variable and the added (depolarizing) current and contrasted with the behavior of the classical Hodgkin-Huxley system. The plateaux levels between spikes can be adjusted, by changing a set of voltage parameters, to agree with experimental observations. Experiment has shown that in, in vivo, dopaminergic and noradrenergic neurons' pacemaker activity can be induced by the removal of excitatory inputs or the introduction of inhibitory ones. These properties are confirmed by mimicking opposite such changes in the model, which resulted in a change from pacemaker activity to bursting-type phenomena. The article concludes with a brief review of previous modeling of these types of neurons and a brief discussion of their involvement in some pathological pysychiatric conditions.