Preheat your oven to 350°F (175°C). Grease and flour the springform pan.
Cream together 1/2 cup unsalted butter and 1 cup sugar until light and fluffy.
Add 1 cup ricotta cheese and mix until well combined.
Beat in 2 large eggs, one at a time, then stir in 1 teaspoon vanilla extract.
Combine 1 1/2 cups flour, 1 teaspoon baking powder, 1/2 teaspoon baking soda, and 1/4 teaspoon salt in a separate bowl.
Add the dry ingredients to the wet mixture, alternating with 1/2 cup whole milk, beginning and ending with the flour mixture.
Pour the batter into the prepared pan and smooth the top with a spatula.
Mix together 1/2 teaspoon cinnamon and 1/2 teaspoon nutmeg, then sprinkle over the top of the batter.
Bake for 50 minutes, or until a toothpick inserted into the center comes out clean.
Cool in the pan for 10 minutes, then remove the sides of the springform pan and let the cake cool completely on a cooling rack.