Recognize when people are getting emotional and don't play along. You are searching for a concrete point, an argument, not a feeling. A concise argument needs more than emotion to be valid.
Don't talk about abstract ideas and encourage the other participant to do so as well. Focus on specific examples. If someone talks about "the institution," "the industry," or other abstract bodies and ideas, ask them to refer to a specific notion or person.
If someone is teasing you and you'd like them so stop, remain collected and friendly, and casually say that you didn't like that comment made on you. This can make people uncomfortable, and you can shake that off with a joke or a laugh. In short: calmly state what you didn't like. Once the message is received, move past it.
If you feel that someone is crossing a line or teasing you, intending to pick a fight, set a boundary. Now, a boundary is not an ultimatum, it is presenting to the other side how you will behave in reaction to someone doing something. For example, "If you keep using that demeaning tone, I will walk away." This is for extreme cases only that will probably not occur amongst friends. Calmly state your boundary and why it is important to you. If they continue to cross your boundaries, act on your promises.
Source: CharismaOnCommand